Northstrive Biosciences Signs Binding Term Sheet with Modulant Biosciences for Exclusive Global Animal Health Licensing of EL-22
Northstrive Biosciences, a subsidiary of PMGC Holdings (NASDAQ: ELAB), has signed a binding term sheet with Modulant Biosciences for exclusive global licensing rights of EL-22 in animal health applications. The agreement covers worldwide rights (excluding South Korea) for developing and commercializing EL-22 as a feed additive, focusing on a probiotic approach to muscle preservation in livestock.
The intellectual property includes U.S. Patent 8,470,551 and two patent applications. Under the financial terms, Modulant will pay Northstrive a share of revenues from sublicensing and commercial activities, with the royalty rate decreasing after reaching a certain threshold. The agreement also includes provisions for co-ownership of new intellectual property and annual updates on commercialization efforts.
Northstrive Biosciences, una controllata di PMGC Holdings (NASDAQ: ELAB), ha firmato un accordo vincolante con Modulant Biosciences per i diritti di licenza esclusiva globale di EL-22 nelle applicazioni per la salute animale. L'accordo copre i diritti mondiali (esclusa la Corea del Sud) per lo sviluppo e la commercializzazione di EL-22 come additivo per mangimi, con un focus su un approccio probiotico per la conservazione muscolare negli animali da allevamento.
La proprietà intellettuale comprende il brevetto statunitense 8.470.551 e due domande di brevetto. Secondo i termini finanziari, Modulant corrisponderà a Northstrive una quota dei ricavi derivanti da sublicenze e attività commerciali, con una riduzione della royalty dopo il raggiungimento di una certa soglia. L'accordo prevede inoltre disposizioni per la comproprietà di nuova proprietà intellettuale e aggiornamenti annuali sugli sforzi di commercializzazione.
Northstrive Biosciences, una subsidiaria de PMGC Holdings (NASDAQ: ELAB), ha firmado una hoja de términos vinculante con Modulant Biosciences para los derechos exclusivos de licencia global de EL-22 en aplicaciones para la salud animal. El acuerdo cubre los derechos mundiales (excluyendo Corea del Sur) para desarrollar y comercializar EL-22 como aditivo alimentario, enfocándose en un enfoque probiótico para la preservación muscular en el ganado.
La propiedad intelectual incluye la patente estadounidense 8.470.551 y dos solicitudes de patente. Según los términos financieros, Modulant pagará a Northstrive una parte de los ingresos derivados de sublicencias y actividades comerciales, con una tasa de regalías que disminuye después de alcanzar un cierto umbral. El acuerdo también incluye disposiciones para la copropiedad de nueva propiedad intelectual y actualizaciones anuales sobre los esfuerzos de comercialización.
Northstrive Biosciences는 PMGC Holdings(NASDAQ: ELAB)의 자회사로, Modulant Biosciences와 동물 건강 분야에서 EL-22의 전 세계 독점 라이선스 권리에 관한 구속력 있는 기본 합의서를 체결했습니다. 이 계약은 한국을 제외한 전 세계 권리를 포함하며, EL-22를 가축의 근육 보존을 위한 프로바이오틱 접근법에 중점을 둔 사료 첨가제로 개발 및 상용화하는 내용을 담고 있습니다.
지적 재산권에는 미국 특허 8,470,551호와 두 건의 특허 출원이 포함됩니다. 재무 조건에 따라 Modulant는 서브라이선스 및 상업 활동에서 발생하는 수익의 일부를 Northstrive에 지급하며, 일정 기준을 초과하면 로열티 비율이 감소합니다. 또한 계약에는 새로운 지적 재산 공동 소유 및 상용화 노력에 대한 연례 보고 조항도 포함되어 있습니다.
Northstrive Biosciences, une filiale de PMGC Holdings (NASDAQ : ELAB), a signé une lettre d'intention contraignante avec Modulant Biosciences pour les droits de licence exclusifs mondiaux d'EL-22 dans les applications de santé animale. L'accord couvre les droits mondiaux (à l'exception de la Corée du Sud) pour le développement et la commercialisation d'EL-22 en tant qu'additif alimentaire, en mettant l'accent sur une approche probiotique pour la préservation musculaire chez le bétail.
La propriété intellectuelle comprend le brevet américain 8 470 551 ainsi que deux demandes de brevet. Selon les modalités financières, Modulant versera à Northstrive une part des revenus issus des sous-licences et des activités commerciales, avec un taux de redevance dégressif après un certain seuil. L'accord prévoit également des dispositions pour la copropriété de nouvelles propriétés intellectuelles et des mises à jour annuelles sur les efforts de commercialisation.
Northstrive Biosciences, eine Tochtergesellschaft von PMGC Holdings (NASDAQ: ELAB), hat einen verbindlichen Term Sheet mit Modulant Biosciences für exklusive globale Lizenzrechte an EL-22 im Bereich der Tiergesundheit unterzeichnet. Die Vereinbarung umfasst weltweite Rechte (mit Ausnahme Südkoreas) zur Entwicklung und Vermarktung von EL-22 als Futtermittelzusatzstoff, wobei der Schwerpunkt auf einem probiotischen Ansatz zur Muskelerhaltung bei Nutztieren liegt.
Das geistige Eigentum umfasst das US-Patent 8.470.551 sowie zwei Patentanmeldungen. Nach den finanziellen Bedingungen zahlt Modulant Northstrive einen Anteil der Einnahmen aus Unterlizenzen und kommerziellen Aktivitäten, wobei der Lizenzsatz nach Erreichen einer bestimmten Schwelle sinkt. Die Vereinbarung enthält zudem Bestimmungen zur Miteigentümerschaft neuer geistiger Eigentumsrechte und jährliche Berichte über die Vermarktungsaktivitäten.
- Potential for long-term revenue generation through licensing and royalties
- Global exclusive rights (except South Korea) with sublicensing capabilities
- Strategic monetization of EL-22 intellectual property in the animal health sector
- Partnership with experienced leadership - CEO Tom Campi brings 25+ years of animal health expertise
- Agreement is still in term sheet phase, pending final definitive agreement
- Requires approval from Northstrive's head licensor
- Royalty rate will decrease after reaching certain revenue threshold
Insights
Northstrive's EL-22 animal health licensing agreement creates new revenue stream potential without diluting human applications.
This binding term sheet represents a strategic intellectual property monetization opportunity for Northstrive in the animal health sector, completely separate from any human therapeutic applications they might pursue. The deal grants exclusive global rights (excluding South Korea) to Modulant for using EL-22 in animal health, particularly as a feed additive.
The core technology appears focused on a probiotic approach targeting the myostatin pathway using modified lactobacillus casei bacteria. This is scientifically significant as myostatin naturally limits muscle growth, and inhibiting it can increase muscle mass - highly valuable in livestock production where feed conversion efficiency directly impacts profitability.
The financial structure follows typical biotech licensing patterns with tiered royalties - Northstrive receives a higher percentage initially until reaching a certain threshold, after which rates decrease. This indicates a well-structured deal balancing upfront value with long-term revenue sharing.
Having Tom Campi lead Modulant adds credibility, given his
The deal's true value depends on the yet-undisclosed royalty percentages and revenue projections for EL-22 in livestock markets, but represents a low-risk pathway to monetize IP in a secondary market while preserving core human therapeutic applications.
- Binding term sheet grants Modulant Biosciences exclusive global rights to develop and commercialize EL-22 for animal health, enabling a first-of-its-kind probiotic approach to muscle preservation in livestock.
- This collaboration represents a strategic opportunity for Northstrive to monetize the intellectual property of EL-22 in the animal health sector. If EL-22 is successfully developed and brought to market, the license could become a long-term revenue-generating asset.
NEWPORT BEACH, Calif., May 13, 2025 (GLOBE NEWSWIRE) -- Northstrive Biosciences Inc. (“Northstrive”), a subsidiary of PMGC Holdings Inc. (NASDAQ: ELAB) (the “Company,” “PMGC,” “we,” or “our”), today announced the signing of a binding term sheet with Modulant Biosciences LLC (“Modulant”). This binding term sheet outlines the terms for a future definitive licensing agreement for Northstrive’s licensing of certain intellectual property rights related to EL-22 in the field of animal health. This license would allow Modulant to use the relevant intellectual property for uses in animal health (“Intellectual Property”), including use as a feed additive. Excluding the Republic of Korea, the license would be worldwide and exclusive, and give Modulant the exclusive right to sub-license the relevant intellectual property globally.
The Intellectual Property consists of those patents and applications set forth in the definitive licensing agreement, including at least: (i) U.S. Patent 8,470,551, (ii) U.S. Patent Application No. 19/19,191,246, and (iii) U.S. Patent Application No. 19/191,258. The definitive licensing agreement will establish a framework for the parties’ collaboration, sharing of intellectual property, and commercialization oversight, with a focus on livestock and other veterinary markets.
“Targeting the myostatin pathway with a probiotic approach could be a breakthrough for achieving improved body composition in livestock and companion animals,” said Modulant Biosciences CEO Tom Campi. “The licensing of EL-22 will enable us to evaluate the muscle-building properties of the modified lactobacillus casei for treating livestock and supporting the industry’s environmental efforts.”
Modulant Biosciences is led by Tom Campi, a seasoned biotechnology executive with extensive experience in animal drug development and commercialization. Dr. Campi is board certified by the American College of Poultry Veterinarians and has previously worked for Elanco Animal Health and Huvepharma. His more than 25-year career path has included roles in poultry technical consulting, leadership roles in US and European regulatory affairs and technology acquisitions.
As part of the financial terms, Modulant will pay Northstrive a share of all revenues generated from sublicensing and commercial activities. Northstrive will receive a percentage of all such revenues until a certain dollar limit, after which the royalty rate will decrease. The definitive licensing agreement will also include provisions for the parties’ co-ownership of new intellectual property developed by Modulant, certain sublicensing rights, and annual updates from Modulant about licensing and commercialization efforts for the licensed technology.
The parties intend to finalize and execute the definitive license agreement in the coming months, pending necessary approvals from Northstrive’s head licensor for certain intellectual property rights related to EL-22.
About Northstrive Biosciences Inc.
Northstrive Biosciences Inc., a PMGC Holdings Inc. company, is a biopharmaceutical company focusing on the development and acquisition of cutting-edge aesthetic medicines. Northstrive’s lead asset, EL-22, leverages 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.
About Modulant Biosciences LLC
Modulant Biosciences is a biotechnology company specializing in veterinary medicine innovation. Led by Dr. Tom Campi, Modulant is focused on developing novel drugs and biologics for livestock and companion animals. Currently, Modulant’s synergistic pipeline includes first in class antivirals for livestock and companion animals and a “One Drug for All Cancers” platform.
Forward-Looking Statements
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FAQ
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