Welcome to our dedicated page for Bellevue Life Sciences Acquisition news (Ticker: BLAC), a resource for investors and traders seeking the latest updates and insights on Bellevue Life Sciences Acquisition stock.
Bellevue Life Sciences Acquisition Corp. (BLAC) is a publicly traded special purpose acquisition company (SPAC) listed on Nasdaq under the symbol BLAC. Established with the core objective of facilitating mergers, acquisitions, or similar business combinations, BLAC focuses particularly on the life sciences and biotechnology sectors.
In July 2023, BLAC entered into an exclusive, non-binding letter of intent with OSR Holdings, Ltd., a global healthcare holding company. This collaboration aims to complete a business combination within the fourth quarter of 2023, potentially resulting in OSR Holdings becoming a publicly traded company, to be renamed as OSR Biosciences, Inc., upon completion.
OSR Holdings, headquartered in South Korea, operates through subsidiaries in Switzerland and South Korea, focusing on developing therapeutic drugs in oncology and osteoarthritis and distributing medical devices for neurovascular diseases. The company has also signed a Letter of Intent to acquire Landmark BioVentures AG, which operates multiple biotech ventures in France.
On November 16, 2023, BLAC and OSR Holdings formalized their business combination agreement, whereby outstanding shares of OSR Holdings would be exchanged for newly issued shares of BLAC common stock. Upon closing, BLAC is set to hold at least 60% of OSR Holdings' outstanding shares and plans to rename itself as OSR Biosciences, Inc.
OSR Holdings' subsidiaries include:
- Vaximm: Develops T-cell immunotherapies for cancer treatment
- Darnatein: Focuses on disease-modifying osteoarthritis drugs
- RMC: Distributes medical devices for neurovascular treatments
Most recently, in April 2024, OSR Holdings signed a memorandum of understanding (MOU) with SillaJen, a Kosdaq-listed biotech firm, to explore strategic collaborations in the global immuno-oncology market.
BLAC's sponsor management team, affiliated with Bellevue Global Life Sciences Investors LLC, brings decades of experience in healthcare investing, mergers and acquisitions, and investment management.
For more updated and detailed information, please visit their official websites at www.bellevuespac.com and www.osr-holdings.com.
Bellevue Life Sciences Acquisitions Corp. (BLAC) has announced a Special Meeting to vote on extending the deadline for a business combination with OSR Holdings Co., , a healthcare holding company based in South Korea. Stockholders are encouraged to vote in favor of the Extension Amendment Proposal to extend the deadline from May 14, 2024, to November 14, 2024. Failure to secure at least 65% of votes may lead to liquidation and missed opportunities for stockholders.
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