Woori IO, an OSR Company, Signs NDA with Sinopharm for China Market and Global Multicenter Trials

BELLEVUE, Wash., March 19, 2026 /PRNewswire/ -- OSR Holdings, Inc. (NASDAQ: OSRH), a healthcare-focused holding company advancing innovative medical technologies, today announced that its subsidiary, Woori IO Co., Ltd. ("Woori IO"), has entered into a mutual non-disclosure agreement ("NDA") with Sinopharm Group Beijing Huahong ("Sinopharm"), the Beijing-based unit of Sinopharm Group and major state-owned healthcare and pharmaceutical distribution enterprise of China. This announcement is being made in accordance with Regulation FD to ensure broad, non-exclusionary public dissemination of this information.

The NDA establishes a formal framework for Woori IO and Sinopharm to exchange confidential information relating to Woori IO's noninvasive near-infrared (NIR) glucose monitoring technology, allowing both parties to evaluate potential regulatory, clinical, and commercial pathways in China. Sinopharm Group, with reported 2024 revenue of approximately USD 81 billion, is generally considered China's largest pharmaceutical and medical device distributor with the most extensive nationwide network.

China represents one of the world's largest and fastest-growing diabetes markets, with more than 140 million people estimated to be living with the disease and rising demand for convenient glucose monitoring solutions. China's diabetes device market is projected to expand significantly over the next decade, potentially exceeding $12 billion by 2032, as adoption of advanced glucose monitoring technologies accelerates. Woori IO's proprietary NIR optical sensing technology addresses this demand directly, offering noninvasive, needle-free continuous glucose monitoring without the pain and adoption barriers of conventional invasive methods.

"China is a highly compelling market, given its large and growing diabetes population and increasing adoption of advanced glucose monitoring technologies," said Peter Hwang, CEO of OSR Holdings. "Our engagement with Sinopharm reflects the strategic importance of the China market and the potential role that established national distribution platforms may play in enabling future commercialization. While still at an early stage, this engagement underscores the broader global interest in Woori IO's noninvasive glucose monitoring platform."

Woori IO has received additional interest from healthcare organizations, pharmaceutical companies, and distribution partners across multiple regions, highlighting growing recognition of its noninvasive glucose monitoring platform and strong demand for more accessible, patient-friendly solutions. "Our NDA with Sinopharm allows us to begin evaluating potential regulatory and commercial pathways in China while continuing discussions with partners in other regions," said Sunkie Park, CEO of Woori IO. "These interactions could help shape future clinical development programs, including potential global multicenter trials."

While discussions remain preliminary, OSR Holdings intends to actively pursue strategic partnerships across major international markets as it advances development, regulatory strategy, and potential commercialization pathways for this next-generation glucose monitoring technology, which could represent a transformational step forward in improving accessibility and convenience in diabetes care globally.

OSR Holdings, Inc. (NASDAQ:OSRH) is a global healthcare holding company dedicated to advancing biomedical innovation approaches to health and wellness. Through its subsidiaries, OSRH is engaged in immuno-oncology, regenerative biologics, and medical device technologies. Its vision is to build a portfolio of breakthrough healthcare solutions to improve global health outcomes.

Woori IO is a South Korea-based medical device company developing noninvasive biosensing technologies for glucose monitoring and beyond. Its proprietary NIRS-based system enables accurate, pain-free glucose tracking and is designed for integration into wearables. The company has been recognized by a leading global consumer electronics company's startup program for its innovation in NIGM technology.

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This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding potential collaboration opportunities, anticipated commercialization pathways, regulatory strategy, global market demand for noninvasive CGM technology, and future business prospects. These statements are based on current expectations and assumptions and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Factors that may affect future results include, but are not limited to, the ability to enter into definitive agreements with prospective partners, regulatory approvals, product development outcomes, market acceptance, competitive developments, capital market conditions, and other risks described in OSR Holdings' filings with the U.S. Securities and Exchange Commission. OSR Holdings undertakes no obligation to update forward-looking statements except as required by law.

SOURCE OSR Holdings