Denver, Colorado- NorthStrive Biosciences, a wholly owned subsidiary of PMGC Holdings (NASDAQ:ELAB), has moved a step closer to commercialization in animal health, announcing the execution of a definitive, exclusive license agreement with Modulant Biosciences LLC. The agreement formalizes a previously disclosed binding term sheet and grants Modulant worldwide rights—excluding the Republic of Korea—to develop, manufacture, and commercialize EL-22 and EL-32 for non-human applications, including use as feed additives.
EL-22 and EL-32 are built on proprietary intellectual property targeting the myostatin and activin-A pathways, key biological regulators of muscle growth, strength, and metabolic efficiency. These pathways are increasingly viewed as valuable targets in livestock productivity, feed optimization, and companion animal muscle health, positioning the assets within a growing global animal health market focused on performance, wellness, and longevity.
Under the terms of the agreement, Modulant receives an exclusive, royalty-bearing, sublicensable license covering issued patents, pending applications, and associated know-how. In exchange, Modulant has agreed to provide value to NorthStrive for the rights granted. Modulant will assume responsibility for development, manufacturing, regulatory processes, and commercialization efforts in the animal health field, using commercially reasonable efforts. The license specifically excludes human pharmaceutical or clinical applications.
The agreement also outlines development and reporting obligations, permits sublicensing under defined terms, provides for shared ownership of improvements and newly created intellectual property related to licensed products, and requires adherence to regulatory and quality standards customary in animal health and feed additive industries.
For PMGC Holdings (NASDAQ:ELAB), the definitive agreement marks a meaningful milestone, converting a previously announced term sheet into an operational framework designed to advance EL-22– and EL-32-derived products toward market entry. While the structure provides a clear path forward, commercialization success will depend on development progress, regulatory outcomes, and market adoption within the competitive animal health sector.