Elevai Labs Acquires Exclusive License to Two Myostatin Muscle Loss Prevention Assets with Plan to Develop in Combination with GLP-1 Obesity Treatments
01 Mayo 2024 - 8:00AM
ELEVAI LABS, INC. (NASDAQ: ELAB) (the “Company”), today announced
that it has entered into an exclusive licensing agreement with MOA
Life Plus Co., Ltd., (“MOA”) a South Korean corporation, with the
aim to develop and commercialize two novel assets for the treatment
of obesity and muscle loss prevention.
The licensed assets include EL-22, a clinical
stage engineered probiotic expressing myostatin, and EL-32, a
preclinical engineered probiotic expressing dual myostatin &
activin-A. EL-22 has completed a Phase 1 clinical trial in South
Korea, demonstrating it was generally well tolerated and safe in
healthy volunteers. Elevai intends to evaluate EL-22 for efficacy
and safety in combination with popular weight-loss therapeutics
currently on the market, with the goal of decreasing fat mass while
preventing the muscle wasting that commonly occurs with weight-loss
drugs.
“This license agreement represents a
transformational and strategic milestone for Elevai,”
said Jordan R. Plews, PhD, Co-Founder and Chief Executive
Officer of the Company. “The adoption and use of other GLP-1 drugs
has resulted in rapid weight loss and increases the desire for
related aesthetic procedures linked to the side effects from these
drugs, including significant unwanted muscle loss. We see the
licensing of these two assets as an opportunity to provide an unmet
need and expand into a large and growing multi-billion-dollar
market.”
According to the CDC, 42% of adults suffer from
obesity and could benefit from weight loss medication. Approved
popular GLP-1 drugs such as Ozempic® (semaglutide), Wegovy®
(semaglutide) or Mounjaro® (tirzepatide) are expected to lead the
anti-obesity market to $100 billion by 2030, according to Goldman
Sachs Research. However, there remains a significant challenge as
weight loss from the approved GLP-1 medications also results in
collective loss of fat mass and lean muscle mass, which is critical
for metabolism, strength, and mobility.
Based on preclinical data, Elevai believes that
the assets it has licensed have the potential to significantly
improve the standard of care for the treatment of obesity in
combination with GLP-1 by preserving muscle mass while decreasing
fat mass. The Company plans to make an IND submission in 2025 and
to initiate clinical trials in the U.S. to evaluate the probiotic
approach of EL-22 and EL-32 in combination with one or more GLP-1
receptor agonists in obesity.
“Myostatin is a clinically validated target that
has demonstrated potential in muscle mass and strength building and
is currently being tested in combination with GLP-1 weight loss
drugs," said Dr. Tim Sayed, Chief Medical Officer of Elevai.
"With our new additions, we believe that we have a differentiated,
oral approach as compared to other myostatin strategies being
tested in obesity. Our approach induces mucosal immunity through
the body’s own anti-myostatin antibodies, which could have an
important role in addressing the unmet medical need of obese
patients, who need to preserve muscle while losing weight.”
Under the terms of the license agreement, the
Company obtained global rights outside of South Korea to develop
and commercialize the assets in exchange for upfront cash and
equity consideration. MOA is also eligible to receive milestone
payments based upon the achievement of certain of the Company’s
development and sales milestones, and royalties on net sales of
certain royalty-bearing products sold by Elevai and its affiliates
or sublicensees.
About Elevai Labs
Elevai Labs, Inc. (NASDAQ: ELAB) is a medical
aesthetics company developing cutting-edge physician-dispensed skin
care applications. The Company solves unmet needs in the medical
aesthetics space through a combination of cutting-edge
science-driven and next-generation consumer applications. Elevai
Labs develops topical aesthetic skin care cosmetic products for the
physician-dispensed market, with a focus on leveraging a
proprietary stem cell exosome technology. For more information
visit www.elevailabs.com.
Cautionary Note Regarding
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. Examples of these
forward-looking statements include statements concerning: Elevai’s
expectations regarding its growth, strategy, progress and the
design, objectives and timing of its clinical trials for EL-22; and
the potential of EL-22 to treat obesity without an associated loss
of muscle, both as a monotherapy and in combination with GLP-1
receptor agonists. Because such statements are subject to risks and
uncertainties, actual results may differ materially from those
expressed or implied by such forward-looking statements. These
risks and uncertainties include, among others: Elevai’s limited
operating history and historical losses; Elevai’s ability to raise
additional funding to complete the development and any
commercialization of its product candidates; Elevai’s dependence on
the success of its product candidates EL-22 and EL-32; that Elevai
may be delayed in initiating, enrolling or completing any clinical
trials; competition from third parties that are developing products
for similar uses; Elevai’s ability to obtain, maintain and protect
its intellectual property; and Elevai’s dependence on third parties
in connection with manufacturing, clinical trials and preclinical
studies.
These and other risks are described more fully
in Elevai’s filings with the 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, 2023,
filed with the SEC on March 29, 2024, and its other documents
subsequently filed with or furnished to the SEC. 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.
Media & Product Contact:Brenda Buechler,
CMOcontact@elevailabs.com
Investor Relations Contact:Tyler Troup,
Circadian Group IRIR@elevailabs.com
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