OSR Holdings (OSRH) said Thursday it signed an agreement allowing it to sell up to $80 million in stock to White Lion GBM Innovation Fund.

The capital will support OSR's global efforts to develop new therapies, including glioblastoma treatments, the company said.

The funding agreement gives OSR the option to sell shares gradually over time but does not obligate it to do so.

OSR's biotech portfolio includes Vaximm, a Swiss subsidiary developing an immunotherapy vaccine for glioblastoma.

Shares of the company were up more than 55% in recent Thursday premarket activity.