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ELEVAI Labs, Inc. Acquires Worldwide License Agreement for Proprietary Stem Cell Manufacturing Technology

Article-ELEVAI Labs, Inc. Acquires Worldwide License Agreement for Proprietary Stem Cell Manufacturing Technology

elevai
Elevai Labs, Inc. (Nasdaq: ELAB) a medical aesthetic  company specializing in physician-dispensed skincare is pleased to announce it has signed an  exclusive, worldwide manufacturing and processing technology licensing agreement with  INmune Bio, Inc., [Nasdaq: INMB].

Elevai Labs, Inc. (Nasdaq: ELAB) a medical aesthetic  company specializing in physician-dispensed skincare is pleased to announce it has signed an  exclusive, worldwide manufacturing and processing technology licensing agreement with  INmune Bio, Inc., [Nasdaq: INMB]. The licensing agreement grants Elevai a license to use INmune Bio’s proprietary “EMx” technology, developed by INmune Bio, Inc., CMO, Mark Lowdell, PhD, that enables Elevai to manufacture current Good Manufacturing Practice (“cGMP”) grade, human  umbilical cord-derived mesenchymal stromal cells (hucMSCs) at a lower cost to Elevai than  purchasing hucMSCs outright. Manufactured hucMSCs can be incorporated into certain licensed  topical cosmetic products sold in the medical aesthetics skincare market. 

Elevai believes incorporating the “EMx” technology into its operations is a step towards the  company’s goal of achieving vertical manufacturing integration, while also expanding long term production capabilities and lowering overall costs. Ultimately, Elevai believes controlling its processes through its product pipeline with what it believes to be efficient technologies like  “EMx” will allow greater stem cell consistency, purity, and propel Elevai’s branded cosmetic  products further to maintain the company’s position as an industry innovator in the medical  aesthetics skincare market. 

Highlights of the Licensing Agreement:

Innovative Manufacturing: The licensed “EMx” technology is a proprietary manufacturing  process that entails specific know-how designed to efficiently produce cGMP grade hucMSCs.  The licensing agreement grants Elevai an exclusive license, to utilize “EMx” technology for the  development and commercialization of licensed topical cosmetic applications. Elevai expects the  “EMx” technology to provide the ability to manufacture cGMP grade hucMSCs for its future  topical cosmetic product development and manufacturing needs, at a lower cost than purchasing  them at market which Elevai believes enhances its competitive position for long-term success. 

Global Rights: The agreement stipulates worldwide rights, emphasizing the global impact and  potential of this license-based partnership. 

Ethical and Quality Standards: The agreement requires all licensed topical cosmetic products to  be manufactured in compliance with cGMP and ethical sourcing and screening of umbilical cords  of healthy full-term newborns. 

Consideration: Under the agreement, Elevai will make an initial deposit for the license in two  installments over six months, and a final tech transfer fee within two years of executing the agreement. As further consideration under the agreement, Elevai will be required to pay a nominal royalty on the sale of licensed topical cosmetic products that are manufactured using  the “EMx” technology. 

Statement from the Company: 

In response to the license agreement, Jordan R. Plews, PhD, CEO of Elevai Labs Inc. stated: "Partnering with INmune Bio Inc. aligns perfectly with our mission to pioneer innovative stem cell  exosome products. Their understanding of efficient human stem cell isolation and large-scale manufacturing provides us with a remarkable opportunity to expand our manufacturing  capabilities, expand our product portfolio, and make a significant impact in the market." 

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.elevaiskincare.com]www.elevaiskincare.com. 

Forward-Looking Statements 

Certain statements made in this press release are "forward-looking statements'' within the  meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995.  Forward-looking statements may be identified using words such as "anticipate", "believe",  "expect", "estimate", "plan", "outlook", and "project" and other similar expressions that predict  or indicate future events or trends or that are not statements of historical matters. These  forward-looking statements reflect the current analysis of existing information and are subject  to various risks and uncertainties. As a result, caution must be exercised in relying on forward looking statements. Due to known and unknown risks, actual results may differ materially from  the Company’s expectations or projections. The following factors, among others, could cause  actual results to differ materially from those described in these forward-looking statements: (i)  the failure to meet projected research & development and production targets; (ii) changes in  applicable laws or regulations; and (iii) other risks and uncertainties described herein, as well as  those risks and uncertainties discussed from time to time in other reports and other public filings  with the Securities and Exchange Commission (the "SEC"). These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market  conditions and the completion of the initial public offering on the anticipated terms or at all, and  other factors discussed in the “Risk Factors” section of the registration statement filed with the  SEC. The Company’s SEC filings are available publicly on the SEC’s website at [www.sec.gov]www.sec.gov. Any  forward-looking statement made by us in this press release is based only on information currently  available to the Company and speaks only as of the date on which it is made. The Company  undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether because of new information, future  developments, or otherwise, except as required by law. 

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