Samsung Biologics has launched an all-cash public tender offer to acquire 100 percent of the fully diluted share capital of PolyPeptide Group AG.

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 66? percent, applicable regulatory approvals, and other conditions.

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 the company’s global manufacturing scale with PolyPeptide's specialised 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 over 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.

Upon completion of the transaction, Samsung Biologics will bring together PolyPeptide's highly experienced team and specialised 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.

John Rim, Chairman of the Board of Directors and CEO, Samsung Biologics, said, “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. 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.”

Samsung Biologics is launching an all-cash public tender offer for all publicly held shares in PolyPeptide. The offer price represents a 40 percent premium to the undisturbed share price of CHF 31.65, being the last closing price of PolyPeptide’s shares on the SIX Swiss Exchange as of April 10, 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 percent 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 percent and who has undertaken to tender all of its shares into the offer.

Peter Wilden, Chairman of the Board of Directors, PolyPeptide, said, “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. 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.”

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 20 trading days on the SIX Swiss Exchange, following a 10 trading-day cooling-off period under Swiss takeover law.

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.