Monday, August 31, 2026

Samsung Biologics publishes offer prospectus for PolyPeptide

Samsung Biologics has published the offer prospectus for its planned public tender offer for PolyPeptide Group AG through its Swiss subsidiary Samsung Peptide AG. The offer covers the publicly held registered shares of PolyPeptide, the peptide-focused CDMO listed on the SIX Swiss Exchange.

The publication follows the pre-announcement made on July 20, 2026. Samsung Peptide, based in Zug, is acting as the formal offeror.

Offer terms and timetable

PolyPeptide shareholders are to receive CHF 44.31 net in cash per share. According to Samsung Biologics, this implies an aggregate equity value of about CHF 1.46 billion. The offer price represents a 40 percent premium to PolyPeptide’s unaffected share price on April 10, 2026, the last trading day before initial media speculation about a potential transaction. It also represents an 11.6 percent premium to the volume-weighted average share price over the 60 trading days before the July pre-announcement.

The main offer period is scheduled to open on September 15, 2026 and is expected to close on October 12, 2026 at 4 p.m. Swiss time. Completion is subject to several conditions, including a minimum acceptance level of 66⅔ percent on a fully diluted basis, excluding treasury shares. Regulatory approvals and further customary conditions also apply.

PolyPeptide board backs the offer

The independent and non-conflicted members of PolyPeptide’s Board of Directors unanimously recommend that shareholders accept the offer. Their recommendation is supported by an independent fairness opinion from IFBC AG.

Draupnir Holding B.V., PolyPeptide’s largest individual shareholder, has agreed to tender its entire holding. The shareholder owns around 55.65 percent of PolyPeptide’s outstanding shares, excluding treasury shares.

Delisting planned after settlement

After the offer is settled, Samsung Peptide intends to seek a squeeze-out of any remaining minority shareholders and to delist PolyPeptide’s shares from SIX. Subject to the relevant conditions, the tender offer is currently expected to be completed by the end of 2026.

The offer prospectus and related documents are available on Samsung Biologics’ dedicated transaction website.

Strategic background

Samsung Biologics is a contract development and manufacturing organization providing services from late discovery to commercial manufacturing. The company reports global manufacturing capacity of 845,000 liters, including sites in Korea and a manufacturing facility in Rockville, Maryland.

PolyPeptide specializes in contract development and manufacturing of peptide-based active pharmaceutical ingredients. The company supports pharmaceutical and biotech customers from pre-clinical development to commercial supply. Its portfolio includes exposure to metabolic diseases, including GLP-1-related therapies. PolyPeptide operates six GMP-certified facilities across Europe, the United States and India.