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OSR Holdings, Inc. (NASDAQ:OSRH) announced that Sang Hyun Kim resigned from its board of directors, including his role as an independent director, effective June 26. According to a statement released in a Securities and Exchange Commission filing, the company said Mr. Kim’s resignation was not the result of any dispute or disagreement with OSR Holdings regarding its operations, policies, or practices.
The filing, signed by CEO Kuk Hyoun Hwang, did not indicate whether a successor had been named or provide additional details about future board composition. OSR Holdings is based in Bellevue, Washington, and is listed on the Nasdaq Stock Market. The company’s redeemable warrants (NASDAQ:OSRHW) are also traded on Nasdaq.
This information is based on a press release statement included in the company’s SEC filing.
In other recent news, OSR Holdings has secured a significant financial arrangement to advance its cancer therapy initiatives. The company has entered into a Common Stock Purchase Agreement with the White Lion GBM Innovation Fund, allowing OSR to sell up to $80 million of its common stock. This strategic move is aimed at furthering the development of a novel vaccine for glioblastoma through its Swiss-based biotech subsidiary, Vaximm. The funding is expected to bolster the Vaximm VXM01 program, which focuses on enhancing the immune system’s response to glioblastoma tumors. CEO Peter Hwang highlighted this agreement as a crucial step in bringing transformative therapies to market. The transaction also connects OSR to Innovate GBM’s extensive network of researchers, clinicians, and other stakeholders, promoting cooperation in glioblastoma treatment. The White Lion GBM Innovation Fund, known for its strategic investments in glioblastoma drug development, plays a pivotal role in this collaboration. This development underscores OSR’s commitment to advancing its immunotherapy platform and other healthcare initiatives.
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