Organization and Nature of Business (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| Organization and Nature of Business [Abstract] |
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| Schedule of Details of Shareholders |
Details of shareholders as of June
30, 2026 are as follows:
| Name of Shareholder | |
Number of
ordinary
share | | |
Percentage of
ownership | |
| Bellevue Global Life Sciences Investors LLC | |
| 1,332,500 | | |
| 3.79 | % |
| Bellevue Capital Management Europe AG | |
| 8,612,636 | | |
| 24.52 | % |
| Bellevue Capital Management LLC | |
| 3,123,970 | | |
| 8.90 | % |
| Senyon Choe | |
| 3,953,574 | | |
| 11.26 | % |
| Others | |
| 18,096,012 | | |
| 51.53 | % |
| Total | |
| 35,118,692 | | |
| 100.00 | % |
|
| Schedule of Investments in Subsidiaries |
Details of investments in subsidiaries
as of June 30, 2026 are as follows:
| Name of subsidiary | | Share capital | | | Percentage of
ownership | | | Principal activities | | Country of
incorporation | | VAXIMM AG (“VAXIMM”) | | | 707,884 | | | | 100 | % | | Biotech (drug development) | | Switzerland | | RMC Co., Ltd. (“RMC”) | | | 22,705 | | | | 100 | % | | Medical device distribution | | Republic of Korea | | Darnatein Co., Ltd. (“Darnatein”) | | | 4,195,048 | | | | 100 | % | | Biotech (drug development) | | Republic of Korea | | OSR Health, Inc. (“OSRI”) | | | 3,299 | | | | 100 | % | | NASDAQ Listed Company | | The United States | | Woori-IO Co., Ltd. (“Woori-IO”) | | | 288,326 | | | | 100 | % | | Medical device development | | Republic of Korea |
|
| Schedule of Key Financial Information |
Key financial information of the subsidiaries
at June 30, 2026 are as follows :
| Name of subsidiary | |
Asset | | |
Liability | | |
Equity | | |
Sales | | |
Net Income
(loss) | |
| VAXIMM AG | |
$ | 244,068 | | |
$ | 267,049 | | |
$ | (22,981 | ) | |
$ | — | | |
$ | (359,739 | ) |
| RMC Co.,Ltd | |
| 957,772 | | |
| 772,028 | | |
| 185,744 | | |
| 782,993 | | |
| (111,213 | ) |
| Darnatein Co.,Ltd | |
| 180,088 | | |
| 1,201,957 | | |
| (1,021,869 | ) | |
| — | | |
| (107,096 | ) |
| OSR Health, Inc.(*1) | |
| 58,893,755 | | |
| 11,733,846 | | |
| 47,159,909 | | |
| — | | |
| 1,044,681 | |
| Woori-IO | |
| 276,956 | | |
| 1,382,582 | | |
| (1,105,626 | ) | |
| 16,734 | | |
| (110,042 | ) |
| (*1) | Aforementioned above, the Company is treated as the acquired
company under ASC 805 Business Combinations. As such, it is shown as subsidiary for the subsidiary investment details. |
|
| Schedule of Summaries of Entities |
Summaries of entities, which are newly
included in consolidation scope for the periods ended June 30, 2026 and 2025 are as follows:
| For the six months ended June 30, 2026 | | Name of subsidiary | | Reason | | Type of purchase consideration | | Woori-IO Co.,Ltd. | | Acquisition (*1) | | Equity swap with shares of OSR Holdings Co.,Ltd. |
(*1) The Parent acquired subsidiary
in January 26, 2026 and accounted for the acquisitions at January 1, 2026, which is deemed the acquisition date.
| For the six months ended June 30, 2025 | | Name of subsidiary | | Reason | | Type of purchase consideration | | OSR Health, Inc. | | Acquisition (*2) | | Equity swap with shares of the Parent and OSR inc.’s share |
(*2) The Parent acquired subsidiary
in February 2025 and accounted for the acquisitions at March 31, 2025, which is deemed the acquisition date.
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