PMGC Subsidiary NorthStrive Signs Exclusive License Agreement with Modulant
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 11 2026
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Should l Buy ELAB?
NorthStrive Biosciences, a wholly owned subsidiary of PMGC Holdings, announced that it has executed a definitive, exclusive license agreement with Modulant Biosciences, 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 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.
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Analyst Views on ELAB
About ELAB
PMGC Holdings Inc. is a management, advisory, and investment company specializing in United States (U.S.)-based opportunities across financial services, manufacturing, and healthcare. Its segments include corporate, treasury and biosciences, IT packaging solutions and precision engineering and machining. The Company's portfolio consists of various subsidiaries: Northstrive BioSciences Inc., PMGC Research Inc., PMGC Capital LLC, Pacific Sun Packaging Inc. and AGA Precision Systems LLC. Northstrive Biosciences Inc. is a biopharmaceutical company focusing on the development and acquisition of aesthetic medicines. Its lead asset, EL-22, is leveraging a first-in-class engineered probiotic approach to address obesity’s pressing issue of preserving muscle while on weight loss treatments, including GLP-1 receptor agonists. PMGC Research Inc. is focused on advancing the frontiers of scientific discovery. AGA Precision Systems LLC specializes in CNC machining operations.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
PMGC Holdings Files New Patents to Drive Growth
- Patent Application Volume: PMGC Holdings' NorthStrive Biosciences has filed 10 new patent applications, including five for EL-22 and five for EL-32, covering livestock, aquaculture, and poultry sectors, indicating the company's potential expansion in animal health and agriculture markets.
- Muscle Growth Promotion: Two of the applications focus on the use of the technologies as non-feed additive supplements to promote muscle growth and increase muscle yield per animal, which not only enhances farming efficiency but also potentially improves overall animal health.
- Environmental Impact Reduction: Additional filings aim to reduce gaseous emissions and improve animal health, including mitigation of ruminal tympany, which will help enhance the company's competitiveness in sustainable agriculture.
- Exclusive Licensing Agreement: NorthStrive Biosciences signed an exclusive licensing deal with Modulant Biosciences, granting them worldwide rights to develop and commercialize EL-22 and EL-32 assets, reflecting the company's strategic focus on technology development and market commercialization.
See More
Small-Cap Acquisitions Drive Market Gains
- Acquisition Surge: Interactive Strength (NASDAQ:TRNR) announced a definitive agreement to acquire Ergatta, which is expected to boost 2026 revenue guidance by 50% to over $30 million, with Ergatta alone projected to contribute more than $10 million in revenue, enhancing TRNR's competitive edge in the fitness market.
- Cash Flow Growth: The transaction caps the maximum enterprise value at $19.5 million based on an EBITDA of approximately $4 million for 2026, and is expected to be immediately accretive to TRNR's earnings, driving market share expansion in the fitness industry.
- Production Program Launch: Kraig Biocraft Laboratories (OTCQB:KBLB) confirmed the activation of its 2026 production program, with bio-materials moved to incubation, marking its leadership in scalable spider silk manufacturing and accelerating commercialization in defense and medical applications.
- Patent Expansion: NorthStrive Biosciences filed 10 new U.S. patent applications targeting animal health and agriculture, aiming to enhance muscle growth and reduce environmental impact, further solidifying the company's position at the intersection of sustainable farming and biopharma innovation.
See More
NorthStrive Files Ten New Patent Applications for Animal Health Technologies
- Patent Expansion: NorthStrive Biosciences has filed ten new patent applications that expand its EL-22 and EL-32 technologies into the animal health and agricultural markets, which is expected to enhance the company's market share in these sectors.
- Muscle Growth Technology: Two of the applications focus on the use of EL-22 and EL-32 as non-feed additive supplements designed to promote the growth of new muscle tissue in animals, potentially significantly improving livestock efficiency by increasing muscle weight return per animal.
- Emission Reduction and Health: Other applications address the use of EL-22 and EL-32 to reduce gaseous emissions in livestock, which could decrease environmental impact and mitigate the risk of ruminal tympany, demonstrating the company's commitment to sustainability.
- Aquaculture and Poultry Applications: The new filings also include technologies for using EL-22 and EL-32 in aquaculture and poultry to accelerate muscle growth in aquatic species and improve muscle yield per bird, potentially enhancing overall production efficiency.
See More
GB Capital Advises PMGC on SVM Acquisition
- Acquisition Overview: PMGC Holdings Inc. completed the acquisition of 100% of SVM Machining, Inc. on February 2, 2026, executed on a cash-free, debt-free basis, aiming to build a U.S. precision manufacturing platform through the integration of profitable, high-quality businesses.
- Advisory Role: GB Capital served as co-advisor to PMGC, leading the financial due diligence process, which included quality of earnings analysis, working capital assessment, and preparation of historical financial statements to ensure compliance with U.S. GAAP audit requirements.
- Post-Closing Support: GB Capital will also provide post-closing transition and integration services, implementing its proprietary C.O.R.E. Financial Framework™ to standardize accounting, reporting, and internal controls, ensuring PMGC's financial reporting meets audit readiness standards.
- Company Background: GB Capital Ltd. is a strategic finance, advisory, and management firm focused on growth-stage and publicly listed companies, offering comprehensive M&A advisory, capital markets strategy, and financial reporting support to help businesses build scalable financial infrastructure.
See More
PMGC Holdings Subsidiary Signs Exclusive License Agreement
- Stock Surge: PMGC Holdings Inc. (ELAB) shares surged nearly 45% in pre-market trading on Wednesday, reflecting strong market optimism regarding the company's growth potential following the signing of a new agreement.
- Exclusive License Agreement: The company's wholly-owned subsidiary, NorthStrive Biosciences, signed an exclusive license agreement with Modulant Biosciences, granting Modulant the rights to develop, manufacture, and commercialize products using NorthStrive's EL-22 and EL-32 assets, which is expected to drive revenue growth.
- Bullish Market Sentiment: Following the announcement, retail sentiment around PMGC Holdings trended into 'bullish' territory, with message volumes at 'high' levels, indicating a significant increase in investor confidence in the company's future performance.
- Commercialization Opportunities: This agreement not only provides Modulant with the opportunity to develop new products but also has the potential to generate ongoing royalty revenue for PMGC, thereby enhancing its market competitiveness and financial stability.
See More
NorthStrive Signs Exclusive License Agreement with Modulant for Animal Health Products
- License Agreement Signed: NorthStrive has executed an exclusive license agreement with Modulant covering the EL-22 and EL-32 assets, allowing Modulant to develop and commercialize non-human animal health products globally, marking a significant advancement for the company in the animal health market.
- Technological Application Outlook: The EL-22 and EL-32 assets target key biological regulators of muscle development and metabolic efficiency, which are expected to enhance livestock productivity and feed efficiency, addressing the growing demand for animal health solutions and potentially increasing the company's market share in this sector.
- Clear Development Responsibilities: Under the agreement, Modulant is responsible for all development, manufacturing, and commercialization activities, ensuring compliance with regulatory and quality standards in the animal health field, thereby enhancing NorthStrive's competitive position in the market.
- Strategic Implications: The signing of this agreement not only converts the previously announced term sheet into a definitive agreement but also provides a clear framework for NorthStrive's product development and commercialization efforts in the animal health sector, positioning the company favorably in a rapidly growing market.
See More
PMGC Holdings Files New Patents to Drive Growth
- Patent Application Volume: PMGC Holdings' NorthStrive Biosciences has filed 10 new patent applications, including five for EL-22 and five for EL-32, covering livestock, aquaculture, and poultry sectors, indicating the company's potential expansion in animal health and agriculture markets.
- Muscle Growth Promotion: Two of the applications focus on the use of the technologies as non-feed additive supplements to promote muscle growth and increase muscle yield per animal, which not only enhances farming efficiency but also potentially improves overall animal health.
- Environmental Impact Reduction: Additional filings aim to reduce gaseous emissions and improve animal health, including mitigation of ruminal tympany, which will help enhance the company's competitiveness in sustainable agriculture.
- Exclusive Licensing Agreement: NorthStrive Biosciences signed an exclusive licensing deal with Modulant Biosciences, granting them worldwide rights to develop and commercialize EL-22 and EL-32 assets, reflecting the company's strategic focus on technology development and market commercialization.
See More
Small-Cap Acquisitions Drive Market Gains
- Acquisition Surge: Interactive Strength (NASDAQ:TRNR) announced a definitive agreement to acquire Ergatta, which is expected to boost 2026 revenue guidance by 50% to over $30 million, with Ergatta alone projected to contribute more than $10 million in revenue, enhancing TRNR's competitive edge in the fitness market.
- Cash Flow Growth: The transaction caps the maximum enterprise value at $19.5 million based on an EBITDA of approximately $4 million for 2026, and is expected to be immediately accretive to TRNR's earnings, driving market share expansion in the fitness industry.
- Production Program Launch: Kraig Biocraft Laboratories (OTCQB:KBLB) confirmed the activation of its 2026 production program, with bio-materials moved to incubation, marking its leadership in scalable spider silk manufacturing and accelerating commercialization in defense and medical applications.
- Patent Expansion: NorthStrive Biosciences filed 10 new U.S. patent applications targeting animal health and agriculture, aiming to enhance muscle growth and reduce environmental impact, further solidifying the company's position at the intersection of sustainable farming and biopharma innovation.
See More
NorthStrive Files Ten New Patent Applications for Animal Health Technologies
- Patent Expansion: NorthStrive Biosciences has filed ten new patent applications that expand its EL-22 and EL-32 technologies into the animal health and agricultural markets, which is expected to enhance the company's market share in these sectors.
- Muscle Growth Technology: Two of the applications focus on the use of EL-22 and EL-32 as non-feed additive supplements designed to promote the growth of new muscle tissue in animals, potentially significantly improving livestock efficiency by increasing muscle weight return per animal.
- Emission Reduction and Health: Other applications address the use of EL-22 and EL-32 to reduce gaseous emissions in livestock, which could decrease environmental impact and mitigate the risk of ruminal tympany, demonstrating the company's commitment to sustainability.
- Aquaculture and Poultry Applications: The new filings also include technologies for using EL-22 and EL-32 in aquaculture and poultry to accelerate muscle growth in aquatic species and improve muscle yield per bird, potentially enhancing overall production efficiency.
See More
GB Capital Advises PMGC on SVM Acquisition
- Acquisition Overview: PMGC Holdings Inc. completed the acquisition of 100% of SVM Machining, Inc. on February 2, 2026, executed on a cash-free, debt-free basis, aiming to build a U.S. precision manufacturing platform through the integration of profitable, high-quality businesses.
- Advisory Role: GB Capital served as co-advisor to PMGC, leading the financial due diligence process, which included quality of earnings analysis, working capital assessment, and preparation of historical financial statements to ensure compliance with U.S. GAAP audit requirements.
- Post-Closing Support: GB Capital will also provide post-closing transition and integration services, implementing its proprietary C.O.R.E. Financial Framework™ to standardize accounting, reporting, and internal controls, ensuring PMGC's financial reporting meets audit readiness standards.
- Company Background: GB Capital Ltd. is a strategic finance, advisory, and management firm focused on growth-stage and publicly listed companies, offering comprehensive M&A advisory, capital markets strategy, and financial reporting support to help businesses build scalable financial infrastructure.
See More
PMGC Holdings Subsidiary Signs Exclusive License Agreement
- Stock Surge: PMGC Holdings Inc. (ELAB) shares surged nearly 45% in pre-market trading on Wednesday, reflecting strong market optimism regarding the company's growth potential following the signing of a new agreement.
- Exclusive License Agreement: The company's wholly-owned subsidiary, NorthStrive Biosciences, signed an exclusive license agreement with Modulant Biosciences, granting Modulant the rights to develop, manufacture, and commercialize products using NorthStrive's EL-22 and EL-32 assets, which is expected to drive revenue growth.
- Bullish Market Sentiment: Following the announcement, retail sentiment around PMGC Holdings trended into 'bullish' territory, with message volumes at 'high' levels, indicating a significant increase in investor confidence in the company's future performance.
- Commercialization Opportunities: This agreement not only provides Modulant with the opportunity to develop new products but also has the potential to generate ongoing royalty revenue for PMGC, thereby enhancing its market competitiveness and financial stability.
See More
NorthStrive Signs Exclusive License Agreement with Modulant for Animal Health Products
- License Agreement Signed: NorthStrive has executed an exclusive license agreement with Modulant covering the EL-22 and EL-32 assets, allowing Modulant to develop and commercialize non-human animal health products globally, marking a significant advancement for the company in the animal health market.
- Technological Application Outlook: The EL-22 and EL-32 assets target key biological regulators of muscle development and metabolic efficiency, which are expected to enhance livestock productivity and feed efficiency, addressing the growing demand for animal health solutions and potentially increasing the company's market share in this sector.
- Clear Development Responsibilities: Under the agreement, Modulant is responsible for all development, manufacturing, and commercialization activities, ensuring compliance with regulatory and quality standards in the animal health field, thereby enhancing NorthStrive's competitive position in the market.
- Strategic Implications: The signing of this agreement not only converts the previously announced term sheet into a definitive agreement but also provides a clear framework for NorthStrive's product development and commercialization efforts in the animal health sector, positioning the company favorably in a rapidly growing market.
See More
