NorthStrive Biosciences Executes Definitive, Exclusive License Agreement With Modulant Biosciences

NorthStrive Biosciences Inc. ("NorthStrive"), a wholly owned subsidiary of PMGC Holdings Inc. (NASDAQ:ELAB) (the "Company," "PMGC," "we," or "our"), today announced that it has executed a definitive, exclusive license agreement ("License Agreement") with Modulant Biosciences LLC ("Modulant"), following the previously announced binding term sheet dated May 12, 2025.

The License Agreement covers NorthStrive's EL-22 and EL-32 assets and, pursuant to its terms, grants Modulant an exclusive, royalty-bearing, sublicensable license to develop, manufacture, and commercialize products derived from these technologies solely for non-human animal health applications, including use as a feed additive. This license ("License") applies on a worldwide basis, excluding the Republic of Korea. Modulant agreed to pay value to NorthStrive in exchange for the License granted under the License Agreement.

EL-22 and EL-32 are based on proprietary intellectual property targeting myostatin and activin-A pathways, which are key biological regulators of muscle development, strength, and metabolic efficiency. These pathways are increasingly viewed as important targets across a range of animal health and nutrition applications, including livestock productivity, feed efficiency, and companion animal muscle health and aging.

The License Agreement encompasses issued patents, pending patent applications, and associated proprietary know-how underlying the EL-22 and EL-32 programs. Under the terms of the License Agreement, Modulant is responsible for all development, manufacturing, regulatory, and commercialization activities for licensed products within the animal health field, using commercially reasonable efforts. The License Agreement expressly excludes any human pharmaceutical or clinical applications.