NorthStrive Biosciences Announces U.S. Arrival of EL-32 Working Cell Bank and Initiation of Manufact...

Next-generation engineered probiotic targeting myostatin and Activin-A pathways advances toward clinical readiness across human and animal health applications

NEWPORT BEACH, Calif., April 13, 2026 (GLOBE NEWSWIRE) -- NorthStrive Biosciences Inc. ("NorthStrive Biosciences"), a wholly owned subsidiary of PMGC Holdings Inc. ("PMGC" or the "Company") (NASDAQ: ELAB), today announced a key development milestone for its asset, EL-32: the successful transfer of the EL-32 Working Cell Bank ("WCB") to a U.S.-based third-party fermentation facility. This transfer initiates a manufacturing optimization program designed to increase production yield and establish a cost-efficient, scalable process in support of future clinical and commercial development.

EL-32 is a dual-action engineered probiotic therapeutic designed to express both myostatin and activin-A antigens, two key biological regulators of muscle development and metabolic function. By targeting both the myostatin and activin-A pathways through an oral, gut-mediated delivery mechanism, EL-32 offers a differentiated approach to preserving lean muscle mass and addressing metabolic dysfunction in patients undergoing GLP-1 receptor agonist weight loss therapy.

Modulant Biosciences LLC ("Modulant Biosciences"), licensee for the development, manufacture, and commercialization of products derived from EL-32 for non-human animal health applications under the previously announced License Agreement with NorthStrive Biosciences, has retained the third-party precision fermentation facility to lead upstream and downstream process development. This involves applying data-driven optimization strategies to improve yield, consistency, and manufacturability. NorthStrive Biosciences will work with Modulant Biosciences to leverage these efforts, with the goal of establishing a robust process foundation to support investigational new drug ("IND")-enabling activities and future good manufacturing practices ("GMP") manufacturing.

The parties' collaboration reflects a dual-track development strategy: NorthStrive Biosciences retains all rights to human therapeutic applications of EL-32, while Modulant Biosciences holds an exclusive license to develop and commercialize EL-32-derived products for non-human animal health applications. This parallel approach is intended to maximize the commercial potential of the EL-32 platform across both markets while leveraging shared manufacturing and process development insights.

About NorthStrive Biosciences Inc.

NorthStrive Biosciences Inc., a PMGC Holdings Inc. (Nasdaq: ELAB) company, is a biopharmaceutical company focused on the development and acquisition of cutting-edge aesthetic medicines. Its assets include EL-22 and EL-32 which are engineered probiotic therapeutics targeting myostatin and activin-A pathways for muscle preservation in patients on GLP-1 receptor agonist weight loss therapies. For more information, please visit www.northstrivebio.com.

About PMGC Holdings Inc.

PMGC Holdings Inc. is a diversified holding company that manages and grows its portfolio through strategic acquisitions, investments, and development across various industries. We are committed to exploring opportunities in multiple sectors to maximize growth and value. For more information, please visit https://www.pmgcholdings.com.

Forward-Looking Statements

Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Words such as "believes," "expects," "plans," "potential," "would" and "future" or similar expressions such as "look forward" are intended to identify forward-looking statements. Forward-looking statements are made as of the date of this press release and are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy, activities of regulators and future regulations and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results. Therefore, you should not rely on any of these forward-looking statements. These and other risks are described more fully in PMGC's filings with the United States Securities and Exchange Commission ("SEC"), including the "Risk Factors" section of the Company's Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on March 30, 2026, and its other documents subsequently filed with or furnished to the SEC. Investors and security holders are urged to read these documents free of charge on the SEC's web site at www.sec.gov. All forward-looking statements contained in this press release speak only as of the date on which they were made. Except to the extent required by law, the Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

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