PMGC Holdings rises as unit expands rights to AI-discovered obesity, heart disease drug program
ELAB•PMGC unit expands AI drug program rights
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Shares of diversified holding company PMGC Holdings ELAB.O rise 5.8% to $5.49 premarket.
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The company said unit NorthStrive Biosciences amended its agreement with Yuva Biosciences to advance four AI-discovered drug candidates aimed at obesity and heart disease.
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ELAB said a six-month expansion program will narrow four validated compounds to a lead candidate and a backup candidate for further development.
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The program follows positive preliminary laboratory results announced in July, where the compounds increased ANT1, a protein linked to muscle energy production.
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The amendment strengthens NorthStrive's exclusive rights in obesity and heart disease and adds a right of first refusal across broader cardiometabolic diseases.
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The company expects updates from key milestones, including candidate selection, over the next six months.
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As of the last close, the stock was down about 99% year to date.
