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PMGC Holdings Inc. (NASDAQ: ELAB) delivers innovative solutions across biopharmaceuticals, medical aesthetics, and strategic investments. This news hub provides investors with centralized access to all corporate announcements, regulatory updates, and market developments.
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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.
Elevai Labs has acquired exclusive rights to two myostatin muscle loss prevention assets, EL-22 and EL-32, for the treatment of obesity. EL-22 has shown promising results in preclinical trials, increasing body weight and restoring muscle damage. The company aims to combine these assets with popular GLP-1 obesity treatments to improve the standard of care for obesity patients. Elevai plans to submit an IND application in 2025 for further clinical trials in the U.S. market. The CDC reports that 42% of adults suffer from obesity, creating a large market opportunity for weight-loss medications.
The licensing agreement with MOA Life Plus Co., includes global rights excluding South Korea. The agreement involves upfront cash, equity considerations, milestone payments, and royalties based on development and sales milestones. Elevai's approach to muscle preservation while decreasing fat mass could address the current challenge of muscle loss associated with GLP-1 weight-loss drugs, offering a unique solution to the obesity epidemic.
ELEVAI Labs Inc. (NASDAQ: ELAB), a medical aesthetic company, highlights global distribution agreements securing up to $4.9M in revenue commitments over five years. With five agreements signed and five more in discussion, Elevai aims to expand its global presence with innovative skincare solutions tailored to diverse markets. The company's distribution partners will lead marketing efforts, ensuring seamless product entry and compliance in various regions.