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ELEVAI Labs, Inc. Acquires Worldwide License Agreement for Proprietary Stem Cell Manufacturing Technology
ELEVAI Labs to commercialize use of proprietary technology designed to produce high-quality, cGMP grade mesenchymal stromal cells at lower-cost NEWPORT BEACH,
About this update from Pmgc Holdings Inc.
[{"type":"text","content":"ELEVAI Labs to commercialize use of proprietary technology designed to produce high-quality, cGMP grade mesenchymal stromal cells at lower-cost\nNEWPORT BEACH, Calif., Jan. 16, 2024 (GLOBE NEWSWIRE) -- Elevai Labs, Inc. (Nasdaq: ELAB) a medical aesthetic company specializing in physician-dispensed skincare is pleased to announce it has signed an exclusive, worldwide manufacturing and processing technology licensing agreement with INmune Bio, Inc., [Nasdaq: INMB]. The licensing agreement grants Elevai a license to use INmune Bio’s proprietary “EMx” technology, developed by INmune Bio, Inc., CMO, Mark Lowdell, PhD, that enables Elevai to manufacture current Good Manufacturing Practice (“cGMP”) grade, human umbilical cord-derived mesenchymal stromal cells (hucMSCs) at a lower cost to Elevai than purchasing hucMSCs outright. Manufactured hucMSCs can be incorporated into certain licensed topical cosmetic products sold in the medical aesthetics skincare market. Elevai believes incorporating the “EMx” technology into its operations is a step towards the company’s goal of achieving vertical manufacturing integration, while also expanding long-term production capabilities and lowering overall costs. Ultimately, Elevai believes controlling its processes through its product pipeline with what it believes to be efficient technologies like “EMx” will allow greater stem cell consistency, purity, and propel Elevai’s branded cosmetic products further to maintain the company’s position as an industry innovator in the medical aesthetics skincare market. Highlights of the Licensing Agreement: Innovative Manufacturing: The licensed “EMx” technology is a proprietary manufacturing process that entails specific know-how designed to efficiently produce cGMP grade hucMSCs. The licensing agreement grants Elevai an exclusive license, to utilize “EMx” technology for the development and commercialization of licensed topical cosmetic applications. Elevai expects the “EMx” technology to provide the ability to manufacture cGMP grade hucMSCs for its future topical cosmetic product development and manufacturing needs, at a lower cost than purchasing them at market which Elevai believes enhances its competitive position for long-term success. Global Rights: The agreement stipulates worldwide rights, emphasizing the global impact and potential of this license-base...