Samsung Biologics announces all-cash offer to acquire PolyPeptide, accelerating multi-modality strategy and expanding global network across U.S., Europe, and India.

Samsung Biologics to launch an all-cash public tender offer for 100% of PolyPeptide’s fully diluted share capital (excluding therefrom any treasury shares) at CHF 44.31 per share, representing an equity value of approximately CHF 1.46 billion.

– Strong transaction support, with a unanimous recommendation from PolyPeptide’s Board members (acting through its independent and non-conflicted members) and an irrevocable tender undertaking from PolyPeptide’s largest shareholder, representing approximately 55.65% of outstanding shares (excluding treasury shares).

– PolyPeptide’s specialized peptide expertise and global multi-site network to strengthen Samsung Biologics’ multi-modality and global manufacturing excellence

– Strategic investment to propel Samsung Biologics’ long-term growth strategy spanning portfolio, geography, and capacity

Incheon, S. KOREA, July 20, 2026 – Samsung Biologics (KRX: 207940.KS) today announced the launch of an all-cash public tender offer to acquire 100% of the fully diluted share capital of PolyPeptide Group AG (“PolyPeptide”) (ISIN CH1110760852, ticker symbol: PPGN), a leading global contract development and manufacturing organization (CDMO) specializing in peptide-based active pharmaceutical ingredients (APIs).

Under the terms of the offer, PolyPeptide shareholders will receive CHF 44.31 in cash for each PolyPeptide share, representing an implied equity value of approximately CHF 1.46 billion. The transaction is expected to be completed towards the end of 2026, subject to customary offer conditions, including a minimum acceptance threshold of 66⅔%, applicable regulatory approvals, and other conditions described in the pre-announcement published today (Link), and the offer prospectus to be published in accordance with Swiss takeover law.

After a comprehensive review of strategic options, PolyPeptide’s Board of Directors, acting through its independent and non-conflicted members, unanimously recommend that PolyPeptide shareholders accept the tender offer, subject to the terms and conditions set forth in the offer prospectus. The Board determined that the transaction represents an attractive outcome for shareholders and PolyPeptide while positioning PolyPeptide for its next phase of growth as part of Samsung Biologics’ global CDMO platform.

With this transaction, Samsung Biologics will expand its capabilities beyond antibodies and ADCs to include peptide therapeutics, one of the fastest-growing segments of the biopharmaceutical industry, driven by surging global demand for obesity treatments and the continued expansion of peptide-based therapies into new disease areas. The transaction brings together Samsung Biologics’ global manufacturing scale with PolyPeptide’s specialized peptide expertise to create a differentiated, end-to-end multi-modality CDMO platform. PolyPeptide stands as one of the industry’s top peptide CDMOs, distinguished by its advanced technology platform and proven track record, with more than 70 years of API manufacturing heritage and over 1,000 therapeutic peptides produced to date.

PolyPeptide operates an integrated development-to-commercial model with growth focused on a modular, automation approach, giving it the flexibility to adapt quickly to changing market demand. Through PolyPeptide’s peptide capabilities, innovative technologies, and proven commercial manufacturing track record, Samsung Biologics aims to serve clients across a broader range of therapeutic modalities by addressing growing demand for peptide-based therapeutics, particularly in obesity and diabetes, including GLP-1 therapies, while advancing innovation across high-growth areas such as oncology and other emerging indications.

The planned acquisition extends beyond adding capacity; it lays the foundation for Samsung Biologics’ next phase of growth, supported by a strong pipeline of active peptide projects that includes a deep late-stage portfolio. PolyPeptide operates global sites across Sweden, Belgium, France, the United States, India, together with a corporate office in Switzerland and a separate Innovation Center in Strasbourg, France, with capabilities encompassing R&D, development, and commercial manufacturing.

Upon completion of the transaction, Samsung Biologics will bring together PolyPeptide’s highly experienced team and specialized peptide expertise, further enhancing its capabilities. By combining the companies’ scientific strengths, manufacturing excellence, and global operations, the transaction is expected to enhance operational excellence, unlock additional growth opportunities, and further strengthen Samsung Biologics’ position as a leading global multi-modality CDMO.

“This acquisition reinforces our long-term growth strategy by not only broadening our service portfolio with modality expansion into peptides including GLP-1, but by also boosting our geographic reach and proximity further within the US, Europe, and India,” said John Rim, Chairman of the Board of Directors and CEO of Samsung Biologics. “We highly value PolyPeptide’s world class employees, industry leading capabilities, and global operational footprint, and look forward to leveraging the complementary strengths of PolyPeptide and Samsung Biologics in our continued growth supporting clients as the CDMO of choice for decades to come.”

“PolyPeptide was built on the dedication of our employees, deep scientific expertise and strong customer focus. After a comprehensive review of strategic options, the Board is convinced that Samsung Biologics’ offer is compelling for our shareholders, delivering an attractive cash price and immediate, certain value today,” said Peter Wilden, Chairman of the Board of Directors of PolyPeptide. “At the same time, it represents a transformational opportunity to accelerate our strategic ambitions at a scale we could not reach alone – creating a stronger global partner for customers and a platform uniquely positioned to lead the next phase of growth in peptide-based therapeutics.”

Samsung Biologics is launching an all-cash public tender offer for all publicly held shares in PolyPeptide. The Offer Price represents a 40% premium to the undisturbed share price of CHF 31.65 (the “Unaffected Price”), being the last closing price of PolyPeptide’s shares on the SIX Swiss Exchange (“SIX”) as of 10 April 2026, which was the last trading day prior to the emergence of market rumors regarding a potential acquisition of PolyPeptide. The Offer Price represents an approximately 11.6% premium to the volume-weighted average share price over the last 60 trading days prior to the publication of this announcement. The Board of Directors of PolyPeptide, acting through its independent and non-conflicted members, unanimously recommends that shareholders accept the offer. The transaction is further supported by PolyPeptide’s largest shareholder, who holds approximately 55.65% (based on total shares, excluding therefrom any treasury shares) and who has undertaken to tender all of its shares into the offer.

Indicative timeline-

The offer by Samsung Biologics is conditioned upon at least two-thirds of all PolyPeptide shares on a fully diluted basis being tendered into the offer at the end of the offer period, together with other customary offer conditions, including the regulatory approvals set out in the pre-announcement.

The tender offer is expected to be launched by the end of August 2026 by publication of the formal offer prospectus and will remain open for a minimum of twenty trading days on the SIX Swiss Exchange (“SIX”), following a ten trading-day cooling-off period under Swiss takeover law. The pre-announcement, published together with this press release, sets out the tender offer procedure and the specific terms and conditions of the offer.

Once the offer has been successfully completed, Samsung Biologics intends to pursue a squeeze-out of any remaining minority shares and to delist PolyPeptide from the SIX, at which point PolyPeptide would become a wholly owned subsidiary of Samsung Biologics.

J.P. Morgan is acting as exclusive financial advisor to Samsung Biologics, with Ernst & Young Han Young serving as accounting and tax advisor. O’Melveny & Myers LLP and Schellenberg Wittmer Ltd are acting as legal advisors to Samsung Biologics.