Stock more than doubles as Elevai gains access to EMx technology
Elevai Labs experienced a significant surge in stock prices, increasing by 125% to $3.85 following the company’s exclusive worldwide manufacturing and processing technology licensing agreement with INmune Bio. Since its initial public offering in November, Elevai’s stock had hit a low of $1.51 on January 4.
Utilizing Innovative EMx Technology
The licensing agreement provides Elevai with the opportunity to utilize INmune Bio’s proprietary EMx technology. This technology enables Elevai to manufacture Good Manufacturing Practice grade human umbilical cord-derived mesenchymal stromal cells (hucMSCs) at a significantly lower cost compared to purchasing them outright.
Expanding into the Medical Aesthetics Skincare Market
By incorporating manufactured hucMSCs into select licensed topical cosmetic products, Elevai aims to penetrate the thriving medical aesthetics skincare market. This exclusive license grants Elevai the rights to leverage the EMx technology for the development and commercialization of these licensed topical cosmetic applications. With the EMx technology at its disposal, Elevai foresees the ability to produce cGMP grade hucMSCs at a reduced cost, ensuring cost-effective future product development and manufacturing.
Ensuring Compliance and Responsible Sourcing
The agreement mandates that all licensed topical cosmetic products be manufactured in compliance with cGMP. In addition, ethical sourcing and thorough screening of umbilical cords from healthy full-term newborns are required.
Deposit and Royalty Fees
As part of the agreement, Elevai will make an initial deposit for the license in two installments over six months. Furthermore, a final tech transfer fee must be paid within two years of executing the agreement. In return for these considerations, Elevai will be obligated to pay a nominal royalty on the sale of licensed topical cosmetic products manufactured using the EMx technology.