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

January 17, 2024

https://www.globenewswire.com/news-release/2024/01/16/2809885/0/en/ELEVAI-Labs-Inc-Acquires-Worldwide-License-Agreement-for-Proprietary-Stem-Cell-Manufacturing-Technology.html

NEWPORT BEACH, Calif., Jan. 16, 2024 (GLOBE NEWSWIRE) — 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.

Read more at globenewswire.com

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