---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-25-044824"
form_type: "8-K"
ticker: "ELAB"
cik: "0001840563"
company_name: "PMGC Holdings Inc."
filed_at: "2025-05-16T23:59:59+00:00"
generated_at: "2026-05-21T03:35:31.859830+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001213900-25-044824
- form_type: 8-K
- ticker: ELAB
- cik: 0001840563
- company_name: PMGC Holdings Inc.
- filed_at: 2025-05-16T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1840563/000121390025044824/0001213900-25-044824-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1840563/000121390025044824/ea0241550-8k_pmgc.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-25-044824
- JSON: https://secwatch.observer/filing/0001213900-25-044824.json
- Plain text: https://secwatch.observer/filing/0001213900-25-044824.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.