The U.S. animal health market was valued at USD 12.65 billion in 2024 and is expected to grow at a CAGR of 7.97% from 2025 to 2030. This growth is believed to be a consequence of rising innovations surrounding companion animal pharmaceuticals, increasing millennial pet adoption rates, growing livestock populations and production in developing countries, and increasing meat or milk consumption rates, coupled with rising concerns about food-borne diseases.(1)Northstrive Biosciences Inc.’s amendment to its existing licensing agreement allows the company to develop and commercialize a comprehensive range of animal health products, including pharmaceuticals and feed additives. The company believes these products are essential for improving animal health, productivity, and overall food security.

NEWPORT BEACH, Calif., March  27, 2025  (GLOBE NEWSWIRE) -- PMGC Holdings Inc. (NASDAQ: ELAB) (the “Company,” “PMGC,” “we,” or “our”) wholly owned subsidiary, NorthStrive Biosciences Inc. (“Northstrive Biosciences”), announced today a significant amendment (“Amendment”) to an existing License Agreement with MOA Life Plus Co., Ltd., a Korean biotechnology company (“MOA,” and such existing agreement, “License Agreement”) Northstrive Biosciences holds for EL-32 and EL-22. This Amendment expands the scope of Northstrive Biosciences’ license rights to all uses in animal health, including all applications as a feed additive.

The Company believes this expanded scope of its license rights with MOA will position NorthStrive Biosciences to potentially capture new revenue streams from high-growth markets and lower its barrier to entry within the animal health pharmaceutical sector. Northstrive Biosciences aims to capitalize on the growing demand for advanced and safe solutions to address unmet needs in the U.S. animal health market.

This strategic move enhances NorthStrive Biosciences’ licensing portfolio and reinforces its mission to deliver groundbreaking health solutions with high commercial potential.

About NorthStrive Biosciences Inc.

NorthStrive Biosciences Inc., a PMGC Holdings Inc. company, is a biopharmaceutical company focusing on the development and acquisition of cutting-edge aesthetic medicines. NorthStrive’s lead asset, EL-22, leverages an engineered probiotic approach to address obesity’s pressing issue of preserving muscle while patients are on weight loss treatments, including GLP-1 receptor agonists. 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. Currently, our portfolio consists of three wholly owned subsidiaries: Northstrive Biosciences Inc., PMGC Research Inc., and PMGC Capital LLC. 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

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(1) https://www.grandviewresearch.com/industry-analysis/us-animal-health-market-report