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In a recent development, PMGC Holdings Inc. (NASDAQ:PMGC), a pharmaceutical company specializing in preparations for medical aesthetics with a market capitalization of $3.83 million, has mutually terminated a material definitive License Agreement with INmune Bio (NASDAQ:INMB), Inc. This termination was effective on February 27, 2025, as disclosed in a filing with the U.S. Securities and Exchange Commission. According to InvestingPro data, the company maintains strong gross profit margins of 71.15%, despite recent market challenges.
The original agreement, entered into on January 22, 2024, granted PMGC Holdings exclusive and non-exclusive rights to develop, manufacture, and commercialize INmune Bio’s EMx technology, which is based on human umbilical cord-derived mesenchymal stromal cells (hucMSCs), for use in certain topical cosmetic products. An amendment to this agreement was made on July 12, 2024, modifying the tech transfer fee payable to INmune. The company’s stock has experienced significant volatility, with a 99.16% decline over the past year, though it maintains a healthy current ratio of 3.86, indicating strong short-term liquidity.
With the mutual termination of the License Agreement, PMGC Holdings will no longer owe fees to INmune Bio. The company noted that it is currently considering other in-licensing opportunities for biotechnology assets from INmune Bio but has not made any formal decisions at this stage.
The details of the original License Agreement and its amendment were provided in previous SEC filings by PMGC Holdings. The specifics of the Mutual Termination of License Agreement are included in the latest filing, underscoring the company’s strategic shift away from the previous agreement’s commitments.
This decision comes as PMGC Holdings continues to evaluate its portfolio and strategic direction in the medical aesthetics market. The company’s management has not provided any additional comments on the potential future collaboration with INmune Bio or other partners. InvestingPro analysis suggests the stock is currently undervalued, with 16 additional key insights available to subscribers, including detailed financial health metrics and growth indicators.
The information reported in this article is based on the press release statement and the SEC filing by PMGC Holdings Inc. Despite recent challenges, the company has shown impressive revenue growth of 112.17% in the last twelve months, though investors should note its current weak financial health score as reported by InvestingPro.
In other recent news, PMGC Holdings Inc. has raised $1.94 million through a warrant inducement agreement, as reported in an 8-K filing with the SEC. The transactions involved the exercise of warrants by certain holders, with Univest Securities, LLC acting as the financial advisor and receiving a 7% compensation of the total proceeds. Additionally, PMGC Holdings has entered into an agreement with institutional investors for the exercise of Series A warrants, expected to generate nearly $1.9 million in gross proceeds. The company plans to issue new warrants, exercisable at $2.75 per share, pending shareholder approval.
Moreover, PMGC Holdings has achieved compliance with Nasdaq’s minimum bid price requirement, following a reverse stock split. The company has also rebranded its subsidiaries, with Elevai Research Inc. and Elevai Biosciences, Inc. now known as PMGC Research Inc. and Northstrive Biosciences Inc., respectively. Leadership changes have been announced within its subsidiaries, with new appointments in key executive roles. In a separate development, Carmell Corporation has acquired assets from PMGC Holdings’ subsidiary, Elevai Skincare Inc., for $1.1 million. This acquisition includes Elevai’s skincare and haircare business, alongside a mix of stock, cash, and contingent earnout considerations.
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