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NEWPORT BEACH, Calif. - Northstrive Biosciences Inc., a subsidiary of PMGC Holdings Inc. (NASDAQ:ELAB), announced the completion of Phase I strategic research for its innovative oral treatment, EL-22, aimed at addressing muscle-wasting conditions. According to InvestingPro analysis, PMGC Holdings maintains a solid liquidity position with a current ratio of 8.97, though the company’s overall Financial Health Score stands at FAIR. The study, in partnership with Yuva Biosciences and utilizing AI-based review technology, provided insights into EL-22’s mechanism of action, supporting further investigation into its potential benefits for conditions such as GLP-1-associated atrophy and age-related sarcopenia. While the company trades at an attractive Price-to-Book ratio of 0.27, InvestingPro data reveals the company is currently burning through cash rapidly, with negative free cash flow of $4.51 million in the last twelve months.
EL-22 is a first-in-class oral myostatin-engineered probiotic, designed to preserve muscle mass during weight loss treatments. The treatment uses a genetically engineered Lactobacillus casei to stimulate the gut immune system, offering a patient-friendly oral delivery method. This contrasts with traditional injectable therapies and is expected to offer safety and efficacy advantages.
The report highlighted EL-22’s preclinical efficacy in mdx mice, showing promising results in antibody production, serum CK levels, body weight, motor function, and muscle histology. The oral vaccine approach, utilizing Lactobacillus casei, represents a novel strategy in the field of muscle-wasting disorder treatments.
Given the growing use of GLP-1 receptor agonists for obesity and diabetes management, EL-22 is strategically positioned to address the associated risk of muscle loss. Northstrive plans to initiate a Phase 2 proof-of-concept trial specifically targeting GLP-1 users and will commence regulatory discussions aimed at advancing EL-22 toward an IND filing in the United States.
Northstrive Biosciences, part of PMGC Holdings Inc., focuses on developing innovative aesthetic medicines, with EL-22 being its lead asset. Yuva Biosciences, collaborating on this research, is a longevity company working on mitochondrial science to combat aging-related issues.
This announcement contains forward-looking statements, which are not historical facts but are based on current expectations about the future. These statements are subject to risks and uncertainties, and actual results may differ materially. The information is based on a press release statement from PMGC Holdings Inc. For comprehensive financial analysis and additional insights, including 13 more exclusive ProTips, visit InvestingPro.
In other recent news, PMGC Holdings Inc. announced a registered direct offering of its common stock, expected to generate approximately $1.48 million in gross proceeds. The offering includes the sale of 294,450 shares at $5.04 each, with Univest Securities, LLC serving as the sole placement agent. Additionally, PMGC Holdings has engaged in a share repurchase from existing investors, as disclosed in its latest SEC filings, and is open to further buybacks based on market conditions. In a strategic move, PMGC Holdings has entered into a secondment agreement with Northstrive Companies Inc., allowing for the temporary assignment of certain employees to PMGC Holdings. Meanwhile, Northstrive Biosciences Inc., a subsidiary of PMGC Holdings, has filed four new patent applications for obesity treatments, including the candidates EL-22 and EL-32. Northstrive also announced a partnership with Yuva Biosciences Inc. to develop treatments for obesity and type 2 diabetes using AI technology. These developments reflect PMGC Holdings’ ongoing efforts to expand its pharmaceutical and biopharmaceutical capabilities.
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