PMGC subsidiary Northstrive signs binding term sheet with Modulant for exclusive animal health license of EL-22

PMGC Holdings Inc.

Northstrive grants Modulant exclusive global rights (ex-Korea) to develop/commercialize EL-22 as a probiotic for livestock muscle preservation.
EL-22 targets the myostatin pathway via modified lactobacillus casei; Modulant is led by former Elanco executive Tom Campi.
Modulant will pay Northstrive a share of all sublicensing and commercial revenues, with a royalty rate that decreases after a dollar limit.
Definitive license agreement expected in coming months, subject to approval from Northstrive's head licensor for certain IP rights.

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