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PMGC Holdings (ELAB) grants Modulant exclusive rights to EL-22 and EL-32 in animal health

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8-K

Rhea-AI Filing Summary

PMGC Holdings Inc., through its wholly owned subsidiary Northstrive Biosciences Inc., has signed a definitive, exclusive license agreement with Modulant Biosciences LLC for its EL-22 and EL-32 programs in animal health. Modulant receives a worldwide (excluding Korea), royalty-bearing, sublicensable license to develop, manufacture, and commercialize products derived from these myostatin- and activin-A–targeting probiotic technologies for non-human animal applications, including use as a feed additive. Modulant is responsible for all development, regulatory, manufacturing, and commercialization activities. The agreement converts a previously announced binding term sheet into a full contract, but PMGC cautions there is no assurance Modulant will successfully obtain approvals or commercialize products.

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Insights

PMGC locks in an exclusive out-licensing deal for EL-22 and EL-32 animal health uses, shifting development to Modulant.

Northstrive Biosciences, a PMGC subsidiary, granted Modulant Biosciences an exclusive, royalty-bearing, sublicensable license covering EL-22 and EL-32 for non-human animal health worldwide except Korea. Modulant assumes responsibility for development, manufacturing, regulatory, and commercialization activities, which can limit PMGC’s direct spending in this field while preserving upside through license economics.

The licensed assets target myostatin and activin-A pathways, which the companies describe as key regulators of muscle development, strength, and metabolic efficiency, relevant to livestock productivity, feed efficiency, and companion animal muscle health. The deal also includes issued patents, pending applications, and know-how, indicating broad intellectual property coverage around these programs.

The companies highlight that there is no assurance Modulant will successfully develop products, obtain required regulatory approvals, or achieve market acceptance, so any economic benefit to PMGC depends on Modulant’s execution. Future disclosures in PMGC’s periodic reports may clarify development progress, regulatory milestones, or commercial outcomes under this agreement.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (Date of earliest event reported): February 11, 2026

 

PMGC Holdings Inc.
(Exact name of registrant as specified in its charter)

 

Nevada   001-41875   33-2382547
(State or other jurisdiction
of incorporation)
  (Commission File Number)   (I.R.S. Employer
Identification No.)

 

675 West Hastings Street, Suite 805
Vancouver, BC
  V6B1N2
(Address of principal executive offices)   (Zip Code)

 

Registrant’s telephone number, including area code: (888) 445-4886

 

N/A

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
Common Stock, $0.0001 par value   ELAB   The Nasdaq Stock Market LLC

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 

 

 

 

 

 

Item 7.01 Regulation FD Disclosure. 

 

On February 11, 2026, PMGC Holdings Inc. (the “Company”) issued a press release, a copy of which is furnished as Exhibit 99.1 to this Current Report on Form 8-K (“Form 8-K”).

 

The information furnished pursuant to this Item 7.01, including Exhibits 99.1 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

 

Item 9.01. Financial Statements and Exhibits.

 

(d) Exhibits.

 

Exhibit No.   Description
99.1   Press Release dated February 11, 2026.
104   Cover Page Interactive Data File (formatted in Inline XBRL).

  

1

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Date: February 11, 2026

 

PMGC Holdings, Inc.  
     
By: /s/ Graydon Bensler  
Name: Graydon Bensler  
Title: Chief Executive Officer  

 

2

 

 

 Exhibit 99.1

 

NorthStrive Biosciences Signs Definitive License Agreement for Commercialization of EL-22 and EL-32, a Myostatin-Engineered Probiotic for Muscle Preservation in Animal Health

 

NEWPORT BEACH, Calif., Feb. 11, 2026 (GLOBE NEWSWIRE) -- 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.

 

The License Agreement also provides for:

 

Certain development, commercialization, and reporting obligations;

 

Modulant’s ability to grant sublicenses to the License, subject to the terms of the License Agreement;

 

Northstrive and Modulant’s shared ownership of improvements and newly created intellectual property related to licensed products; and

 

Certain ongoing regulatory compliance and abidance with quality standards customary in the animal health and feed additive industries.

 

The collaboration represented by this License Agreement between Northstrive and Modulant is intended to advance EL-22– and EL-32-derived products toward commercialization in the global animal health market, which continues to grow alongside rising demand for improved animal performance, wellness, and longevity.

 

The execution of the License Agreement represents a key milestone for NorthStrive, converting the previously announced term sheet into a fully executed definitive agreement that enables focused development and commercialization activities for EL-22 and EL-32 within the animal health sector.

 

 

 

While the definitive licensing agreement provides a framework for the development and commercialization of EL-22 and EL-32 for animal health applications, there can be no assurance that Modulant will be successful in developing, obtaining any required regulatory approvals for, or commercializing products derived from these technologies, or that any such products will achieve market acceptance.

 

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. 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, companion, and aquatic 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

 

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’s 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, 2024, filed with the SEC on March 28, 2025, 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

 

 

FAQ

What did PMGC Holdings (ELAB) announce in this 8-K filing?

PMGC Holdings announced that its subsidiary Northstrive Biosciences signed a definitive, exclusive license agreement with Modulant Biosciences for EL-22 and EL-32 in animal health. The deal finalizes a prior term sheet and sets Modulant to lead development and commercialization.

Who is Modulant Biosciences in the PMGC (ELAB) license agreement?

Modulant Biosciences is a biotechnology company focused on veterinary medicine innovation, developing drugs and biologics for livestock, companion, and aquatic animals. Under the agreement, Modulant receives exclusive, worldwide (excluding Korea) rights to develop and commercialize EL-22 and EL-32 for animal health applications.

What assets are included in PMGC’s EL-22 and EL-32 license to Modulant?

The license covers Northstrive’s EL-22 and EL-32 programs targeting myostatin and activin-A pathways. It includes issued patents, pending patent applications, and related proprietary know-how, allowing Modulant to develop, manufacture, and commercialize derived products for non-human animal health uses, including as feed additives.

Does the PMGC–Modulant license include human pharmaceutical rights?

No. The license agreement between Northstrive and Modulant expressly excludes human pharmaceutical or clinical applications. Modulant’s exclusive, royalty-bearing rights apply only to non-human animal health uses, such as livestock productivity, feed efficiency, and companion animal muscle health and aging.

What responsibilities does Modulant assume under the PMGC (ELAB) license deal?

Under the agreement, Modulant is responsible for all development, manufacturing, regulatory, and commercialization activities for licensed products in animal health, using commercially reasonable efforts. PMGC notes there is no assurance Modulant will secure approvals or commercial success for EL-22- and EL-32-derived products.

Why is the EL-22 and EL-32 license important for PMGC Holdings (ELAB)?

The definitive license converts a previously announced binding term sheet into a full agreement, creating a structured path to advance EL-22 and EL-32 in the growing global animal health market. It allows PMGC’s Northstrive unit to leverage Modulant’s veterinary focus while retaining potential royalty benefits.

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