Company Overview - PMGC Holdings Inc. has rebranded its subsidiaries to align with its evolving focus as a diversified holding company [1][3] - The company now manages three wholly owned subsidiaries: Northstrive Biosciences Inc., PMGC Research Inc., and PMGC Capital LLC [3] Subsidiary Details - PMGC Research Inc. (formerly Elevai Research Inc.) focuses on advancing scientific discovery through public-private collaborations and Canadian research grants [1][5] - Northstrive Biosciences Inc. (formerly Elevai Biosciences, Inc.) is dedicated to developing innovative aesthetic medicines, with its lead asset EL-22 targeting obesity by preserving muscle during weight loss treatments [2][5] Strategic Focus - Both subsidiaries aim to drive innovation and deliver transformative solutions in their respective fields [3]

Core Insights - PMGC Holdings Inc. has announced a strategic divestiture of its skincare subsidiary, Elevai Skincare, to enhance shareholder value and operational efficiency [1][2] - The sale is aimed at maximizing immediate financial benefits while positioning the company for future growth through structured royalties and milestone payments [2][4] - This divestiture aligns with PMGC's strategy to focus on transformative acquisitions that drive substantial growth and shareholder value [3][5] Financial and Operational Highlights - The divestiture has led to a reduction in cash burn by eliminating a loss-generating subsidiary, resulting in a leaner operational framework [4] - PMGC will receive approximately $1.1 million in stock from Carmell Corporation and retain a 5% royalty on skincare revenues over the next five years [4] - The company plans to redirect resources into high-potential assets, leveraging its expertise to create shareholder value [4][6] Strategic Vision - PMGC is committed to exploring accretive acquisitions and licensing opportunities in sectors with significant growth potential [7] - The company aims to identify undervalued assets that align with its vision of building a diversified and growth-oriented portfolio [7][9] - Current subsidiaries include Elevai Biosciences, Elevai Research, and PMGC Capital LLC, reflecting the company's focus on innovation and growth [10]

NEWPORT BEACH, Calif., Dec. 20, 2024 (GLOBE NEWSWIRE) -- PMGC Holdings Inc. (formerly known as Elevai Labs Inc.) (NASDAQ:ELAB) (before and after the redomestication, the "Company" or "we") announced today that it completed a strategic reorganization. This reorganization included changing the Company's name from Elevai Labs Inc. to PMGC Holdings Inc. and redomiciling from Delaware to Nevada. Upon this reorganization, the Company will continue to trade on The Nasdaq Stock Market ("Nasdaq") under the ticker sy ...

Core Viewpoint - PMGC Holdings Inc. is undergoing a strategic reorganization to enhance operational efficiency and maximize shareholder value as a diversified holding company [1][3]. Group 1: Company Overview - PMGC Holdings Inc. (formerly Elevai Labs Inc.) is a diversified holding company managing a portfolio through strategic acquisitions and investments across various industries [2][3]. - The current portfolio includes four wholly owned subsidiaries: Elevai Skincare Inc., Elevai Biosciences Inc., Elevai Research Inc., and PMGC Capital LLC [2][12]. Group 2: Strategic Reorganization - The reorganization includes a name change to PMGC Holdings Inc. and a redomestication from Delaware to Nevada, effective December 20, 2024 [3][10]. - The company will continue trading on Nasdaq under the ticker symbol "ELAB" after the changes take effect on December 23, 2024 [3]. Group 3: Benefits of Redomiciling - Redomiciling to Nevada is aimed at streamlining operations and creating a more efficient legal and governance framework [4]. - Key benefits of redomiciling include a business-friendly regulatory environment, robust protections for directors and officers, cost efficiency through lower state franchise taxes, and flexibility in shareholder governance [11]. Group 4: Subsidiary Focus - Elevai Skincare Inc. specializes in physician-dispensed skincare solutions using proprietary technology [12]. - Elevai Biosciences Inc. focuses on biopharmaceutical advancements, including treatments for obesity and muscle preservation [12]. - Elevai Research Inc. conducts life sciences research supported by grants and partnerships [12]. - PMGC Capital LLC is a multi-strategy investment vehicle that seeks diversified opportunities across various markets, aiming for superior risk-adjusted returns [12].

NEWPORT BEACH, Calif., Nov. 14, 2024 (GLOBE NEWSWIRE) -- In a release earlier today by Elevai Labs Inc. (NASDAQ: ELAB), please note that in the headline and first paragraph, the financial results are from the company's third fiscal quarter of 2024, not the second fiscal quarter as previously stated; as such, the header over the first bullet list should note the financial results as being from the three and nine months ended September 30, 2024, rather than the three and six months ended June 30, 2024 as prev ...

Achieves Robust Financial Performance with 74% Gross Margin and Strategic Public Offering, Bolstering Resources for Continued Growth and Innovation.Elevai Enfinity™ Clinical Trials Showcase Breakthroughs in Skin Firmness, Tone, and Wrinkle Reduction, Reinforcing Leadership in Aesthetic Innovation.Elevai Biosciences Expands Patent Portfolio with EL-22, a Myostatin-Targeting Treatment for Obesity, Addressing Muscle Preservation in Weight Management NEWPORT BEACH, Calif., Nov. 14, 2024 (GLOBE NEWSWIRE) -- Elev ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For The Quarterly Period Ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-41875 ELEVAI LABS INC. (Exact name of registrant as specified in its charter) Delaware (Stateofincorporation) | --- | --- | --- | |-------|----------------|- ...

NEWPORT BEACH, Calif., Nov. 04, 2024 (GLOBE NEWSWIRE) -- Elevai Labs, Inc. (NASDAQ: ELAB) (“Elevai” or the “Company”), a leader in medical aesthetics, announced today that it is has amended and restated the Offer to Exchange, including extending the expiration date, of its previously announced offer (the “Offer”) to holders of the Company’s outstanding Common Stock (the “Common Stock”), to exchange up to 15,000,000 shares of Common Stock for up to 15,000,000 shares of the Company’s newly issued Series B Pre ...

NEWPORT BEACH, Calif., Oct. 04, 2024 (GLOBE NEWSWIRE) -- Elevai Labs, Inc. (NASDAQ: ELAB) ("Elevai" or the "Company"), a leader in medical aesthetics, today announced the commencement of an offer to exchange up to 15,000,000 shares of its currently issued and outstanding common stock, par value $0.0001 per share (the "Common Stock") for up to 15,000,000 shares of the Company's newly issued Series B Preferred Stock ("Series B Preferred Stock"), with each share of Common Stock being exchangeable in for one sh ...

In Collaboration with Renowned Aesthetic Medicine Expert Dr. Jennifer Pearlman, Elevai's Study Will Investigate the Impact of Combining Exosome Skincare with Advanced Energy-Based Treatments for Optimal Skin Rejuvenation As the Global Energy-Based Aesthetic Device Market Is Projected to Reach $5.60 Billion by 2030, Elevai's Study Seeks to Unlock the Full Potential of Combining Exosome Skincare Products with These Technologies for Enhanced Facial Rejuvenation NEWPORT BEACH, Calif., Oct. 02, 2024 (GLOBE NEWSW ...