Vaximm updates term sheet with BCM Europe to shorten exclusivity period

OSR Holdings (OSRH) provided an update regarding the previously announced non-binding term sheet between its subsidiary, Vaximm, and BCM Europe. The parties have agreed to shorten the exclusivity period from six months to three months, reflecting the strong alignment and confidence between Vaximm and BCME in advancing a definitive exclusive global licensing agreement for VXM01, Vaximm’s first-in-class orally administered cancer immunotherapy platform. Under the updated timeline, Vaximm and BCME now expect to negotiate and finalize a definitive agreement within three months, supported by BCME’s demonstrated ability to rapidly organize the financing and partnering infrastructure required for a potential global out-license to a major pharmaceutical company, as well as its capacity to expedite and streamline the due-diligence processes. The contemplated financial terms remain unchanged and include: A $20M upfront payment to Vaximm; Up to $815M in clinical, regulatory, and commercial milestone payments; and A pass-through of commercial royalties BCME may receive from future pharmaceutical partners, following milestone differential recovery under a defined delta-recovery mechanism. As previously disclosed, the term sheet also includes an optional blockchain-based royalty participation mechanism utilizing “TAC” tokens to represent potential future royalty streams. This mechanism remains available should Vaximm elect to access development capital through the BCM Royalty Fund. During the revised exclusivity period, Vaximm and BCME will continue confirmatory diligence, finalize partnering materials, and complete the documentation required for a definitive agreement. Vaximm retains full ownership of VXM01 intellectual property unless and until a definitive license is executed.