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Elevai Labs, Inc. (NASDAQ: ELAB) is a California-based medical aesthetics company that specializes in physician-dispensed skincare products. Elevai leverages cutting-edge science-driven technologies to modernize the aesthetic skincare market. The company has commercialized its proprietary ELEVAI Exosomes, a next-generation, patent-pending technology used in its flagship skincare products.
Recently, Elevai launched an online e-commerce portal, expanding their business-to-business (B2B) relationships to retail customers. This platform allows customers to select a physician provider to start their personalized skincare journey and enjoy the convenience of online re-ordering. The launch supports Elevai’s sales and marketing initiatives, reflecting the company's commitment to providing a medically-guided customer experience.
Elevai also announced unaudited 113% year-over-year (YoY) Q4 sales growth and 75% YoY Q4 new account growth. The company's robust infrastructure enables the quick launch of new products utilizing the same ELEVAI exosome platform technology.
In terms of global expansion, Elevai recently signed an exclusive distribution agreement with ILIA International Ltd. in Taiwan. This partnership is set to distribute ELEVAI’s patented skincare products, leveraging ILIA’s expertise and access to Taiwan's high-end medical aesthetics market. Elevai has secured a total of five international distribution agreements with a cumulative minimum purchase requirement commitment of up to $4.9 million over the next five years.
Elevai Biosciences, a division of the company, is focusing on the development of aesthetic medicines. One of its lead assets, EL-22, is an engineered probiotic aimed at treating obesity by preserving muscle mass while decreasing fat mass. Preclinical studies suggest that EL-22 has the potential to work in combination with GLP-1 receptor agonists like Ozempic and Mounjaro.
Elevai's commitment to innovation and collaboration positions it as a leader in the medical aesthetics industry. The company continues to empower physicians and enhance customer outcomes through its innovative skincare solutions.
Elevai Labs Inc. (NASDAQ: ELAB) reported Q2 2024 financial results and provided a business update. Key highlights include:
- Revenue increased 91.3% to $605,529 for Q2 2024 and 165.6% to $1,220,092 for H1 2024 year-over-year.
- Gross margin improved to 72.5% for both Q2 and H1 2024.
- Net loss of $1,412,491 for Q2 and $2,809,741 for H1 2024.
- Launched B2B/B2C Elevai Skincare e-commerce platform.
- Established subsidiaries: Elevai Biosciences Inc. and Elevai Skincare Inc.
- Initiated corporate restructuring to reduce annual operating expenses by an estimated $800,000.
- Received research grant from MITACS Canada.
- Formed Scientific Advisory Board for Elevai Biosciences.
The company continues to focus on growth opportunities and increasing shareholder value through strategic acquisitions and investments in biotech, cosmetic, health, and wellness sectors.
Elevai Labs Inc. (NASDAQ: ELAB) has announced the appointment of Orian Shirihai, MD, PhD, to the Scientific Advisory Board of its subsidiary, Elevai Biosciences Inc. Dr. Shirihai, a Professor of Medicine at UCLA and Director of the UCLA Metabolism Research Theme, will support the advancement of EL-22, a first-in-class engineered probiotic approach to address muscle preservation during weight loss treatments.
Dr. Shirihai's expertise in metabolism and obesity research, with over 180 publications and multiple NIH-funded projects, is expected to be valuable in developing EL-22 as a differentiated, oral myostatin approach for obese patients. Elevai Biosciences plans to recruit additional scientific leaders in metabolic health and obesity to join its team.
Elevai Labs Inc. CEO, Graydon Bensler, expressed enthusiasm for the developments at Elevai Biosciences and indicated the company's focus on increasing shareholder value through strategic acquisitions and investments in biotech, cosmetic, health, and wellness spaces.
Elevai Labs (NASDAQ: ELAB) has launched the Elevai S-Series™, a new hair and scalp care product line under its subsidiary Elevai Skincare. Unveiled at The Aesthetic Show in Las Vegas on June 28, 2024, the S-Series utilizes a unique dual mechanism combining exosomes and mitochondrial technology. This three-part system, including the Root Renewal System™, is designed to address issues like thinning hair by promoting scalp and hair vitality. The technology integrates Elevai's proprietary PREx™ and Yuva Bioscience's Y100, identified using AI platform MitoGPT. The S-Series aims to provide a scientifically-backed, cost-effective solution for both men and women.
Elevai Labs, a leader in the medical aesthetics sector, has announced that its subsidiary, Elevai Skincare, will debut a new product line at The Aesthetic Show 2024, held from June 27-30 at the Wynn Las Vegas.
At Booth #511, Elevai will showcase the latest innovations in stem cell exosome products. CEO and Co-Founder Jordan R. Plews, PhD, will introduce the new product line during a presentation on June 28 at 3:30 PM, joined by guest speaker Keshav Singh, PhD, an acclaimed scientist and inventor of one of the key ingredients in the new products.
This event marks a significant step for Elevai in advancing its product offerings within the medical aesthetics field.
Elevai Labs announced the creation of a new Scientific Advisory Board to support its weight loss program, focusing on the development of EL-22, an engineered probiotic solution aimed at addressing obesity by preserving muscle during weight loss treatments. The board includes experts like Dr. Roger A. Fielding, a leading researcher in skeletal muscle function, and Dr. Eduardo Grunvald, an obesity medicine physician. Elevai CEO Dr. Jordan R. Plews emphasized the board's role in advancing Elevai's vision to address the unmet medical needs of obese patients.
Key members include Dr. Fielding, known for his extensive research on muscle mass decline and nutrition, and Dr. Grunvald, who has vast experience in obesity medicine and weight management. Elevai aims to recruit additional experts in metabolic diseases and obesity to its advisory board.
Elevai Labs announced that its CEO, Dr. Jordan R. Plews, will present at the 2024 Beauty Through Science (BTS) conference in Stockholm on May 30, 2024. BTS is a prestigious annual event attracting over 1,000 participants from around 50 countries, focusing on innovative techniques and technologies in aesthetic medicine. Dr. Plews will discuss the role of exosomes in medical aesthetics during a session titled 'Exosomes: Key Considerations, Regulations and Results,' emphasizing their benefits in promoting natural repair processes. Elevai's participation underscores its commitment to advancing science-driven, data-backed skincare solutions.
Elevai Labs, a leader in medical aesthetics, announced that CEO Dr. Jordan R. Plews will present at the LA-BEST 2024 conference on May 23, 2024. This event, organized by UCLA Technology Development Group, brings together around 1,000 participants to foster biotech innovation. Dr. Plews will discuss Elevai Biosciences' engineered probiotic approach for muscle loss prevention in obesity, particularly focusing on combining this approach with GLP-1 receptor agonists. He will highlight their lead candidate, EL-22, which aims to preserve muscle mass through mucosal immunity and anti-myostatin antibodies. The conference aims to promote biotech partnerships and showcase pioneering research.
Elevai Labs (NASDAQ: ELAB) reported financial results for Q1 2024, showcasing substantial year-over-year revenue growth and improved gross margins. The company achieved $614,563 in revenue, up 330.3% from $142,820 in Q1 2023, but down 12% from Q4 2023. Gross margin rose to 72.5%, compared to 68.9% in Q1 2023. However, operating expenses increased to $2,129,113, a 125.4% year-over-year rise and a 38% increase from Q4 2023, leading to a total comprehensive loss of $1,396,069. Elevai Labs remains focused on sustainable growth, operational efficiency, and innovation.
Elevai Biosciences highlighted preclinical data on their in-licensed asset EL-22 for potential obesity treatment. The data showed improvements in muscle mass and fat reduction in mouse models of Duchenne muscular dystrophy. Elevai plans to submit an IND application in 2025 for clinical trials combining EL-22 with GLP-1 receptor agonists.
Elevai Labs, Inc. announced the establishment of two new subsidiaries - Elevai Biosciences, Inc., and Elevai Skincare, Inc. Elevai Biosciences will focus on developing biopharmaceutical technologies with lead assets targeting indications related to obesity. Elevai Skincare will commercialize exosome skincare technologies for the medical skincare market. The restructuring aims to enhance focus, agility, and market penetration for accelerated growth and profitability.
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