Bellevue Life Sciences Acquisition and OSR Holdings today announced an exclusive, non-binding letter of intent, with the goal of completing a business combination in the fourth quarter.
The target is a global healthcare holding company.
Bellevue raised $69 million in a February IPO. The biotech-focused SPAC was formed by Bellevue Capital Management.
Based in Seoul, South Korea, OSR leverages a network of partners in the US, Europe, and South Korea to develop and license its pipeline of biomedical therapies with the ultimate goal of addressing unmet medical needs. OSR Holdings currently wholly-owns three operating subsidiaries in Switzerland and South Korea, two of which are focused on developing therapeutic drugs in the areas of oncology and osteoarthritis, and the third is a distributor of medical devices for treating neurovascular and other diseases.
OSR Holdings signed an LOI last week to acquire Landmark BioVentures, a Swiss company that operates through four different biotech ventures in France with therapeutic focuses on oncology and immunology. Read more.