ELAB PMGC Holdings Inc

PMGC Holdings Inc. (formerly Elevai Labs Inc.) (the “Company” or “PMGC”) (Nasdaq: ELAB), today announced that its subsidiary, Northstrive Biosciences Inc. (“Northstrive Biosciences”), has executed a research agreement (“Research Agreement”) with a leading preclinical contract research organization (“CRO”) specializing in metabolic disorders. This Research Agreement will support a preclinical study carried out by the CRO and designed to evaluate EL-32, a novel engineered probiotic, as a monotherapy and in combination with the GLP-1 receptor agonist semaglutide, focusing on its impact on glycemic control and body composition in diet-induced obese (DIO) mice. Pursuant to the research agreement, within three months of completion of this study, the CRO will provide results of this study to Northstrive Biosciences and deliver a report to Northstrive Biosciences describing the work envisaged in the Research Agreement.

Northstrive Biosciences believes that EL-32 has the potential to treat obesity in combination with popular weight loss therapeutics, including GLP-1 receptor agonists, by preserving muscle mass while decreasing fat mass.

Addressing a Critical Need in Obesity Treatment

GLP-1 receptor agonists have gained prominence as effective weight loss therapeutics; however, research has shown that up to 40-60% of weight loss from these treatments comes from lean body mass, including muscle.1 This significant reduction in muscle mass underscores the critical need for strategies to preserve muscle during weight loss interventions.

Northstrive Biosciences’ lead candidate, EL-32, is an engineered probiotic targeting dual myostatin and activin-A pathways—two clinically validated targets known to regulate muscle. By addressing these pathways, EL-32 has the potential to complement GLP-1 receptor agonists by preserving muscle mass while decreasing fat mass, offering a more comprehensive approach to obesity treatment.

Innovative Study Design with Leading CRO Partner

The planned study, titled "Effects of the test agent EL-32 administered either alone or in combination with semaglutide, on glycemic control and body composition in DIO mice," will use C57BL6/J mice as the experimental model. The study will evaluate body composition and metabolic progress across treatment groups receiving EL-32, semaglutide, or a combination of both. A leading preclinical CRO with extensive expertise in metabolic disorders and preclinical research will oversee the study’s execution.

“We are thrilled to collaborate with a leading obesity CRO to advance our understanding of EL-32’s therapeutic potential,” said Deniel Mero, Co-founder of Northstrive Biosciences. “This agreement marks the beginning of an important phase of research to confirm the role of myostatin and activin-A pathways in preserving muscle mass while addressing the unmet need for muscle preservation during weight loss.”

Advancing Innovation in Metabolic Health

Northstrive Biosciences’ existing preclinical data has demonstrated that EL-32 administration results in statistically significant improvements in key measures of physical muscular function and body composition. The planned study is expected to further validate EL-32’s role as a therapeutic option that can be used in combination with existing GLP-1 therapies to treat obesity more effectively.

About Northstrive Biosciences Inc.

Northstrive Biosciences Inc., a PMGC Holdings company, is a biopharmaceutical company focusing on the development and acquisition of cutting-edge aesthetic medicines. Its lead asset, EL-22, is leveraging an engineered probiotic approach to address obesity’s pressing issue of preserving muscle while on weight loss treatments, including GLP-1 receptor agonists. For more information, please visit www.northstrivebio.com

About PMGC Holdings Inc.

PMGC Holdings Inc. is a diversified holding company that manages and grows its portfolio through strategic acquisitions, investments, and development across various industries. Currently, our portfolio consists of three wholly owned subsidiaries: Northstrive Biosciences Inc., PMGC Research Inc., and PMGC Capital LLC. We are committed to exploring opportunities in multiple sectors to maximize growth and value. For more information, please visit https://www.pmgcholdings.com.

Forward-Looking Statements

Statements contained in this press release regarding matters that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Words such as “believes,” “expects,” “plans,” “potential,” “would” and “future” or similar expressions such as “look forward” are intended to identify forward-looking statements. Forward-looking statements are made as of the date of this press release and are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy, activities of regulators and future regulations and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results. Therefore, you should not rely on any of these forward-looking statements. These and other risks are described more fully in PMGC Holdings’ filings with the United States Securities and Exchange Commission (“SEC”), including the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, filed with the SEC on March 29, 2024, and its other documents subsequently filed with or furnished to the SEC. Investors and security holders are urged to read these documents free of charge on the SEC’s web site at www.sec.gov. All forward-looking statements contained in this press release speak only as of the date on which they were made. Except to the extent required by law, the Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

IR Contact:IR@pmgcholdings.com

1Neeland IJ, Linge J, Birkenfeld AL. Changes in lean body mass with glucagon-like peptide-1-based therapies and mitigation strategies. Diabetes Obes Metab. 2024; 26(Suppl. 4): 16-27. doi:10.1111/dom.15728