Pmgc Holdings Rises As Unit Expands Rights To Ai: discovered obesity, heart disease drug program
BUZZ-PMGC Holdings rises as unit expands rights to AI-discovered obesity, heart disease drug program ** Shares of diversified holding company PMGC Holdings ELAB.O rise 5.8% to $5.49 premarket
** Co says unit NorthStrive Biosciences amended its agreement with Yuva Biosciences to advance four AI-discovered drug candidates aimed at obesity and heart disease
** ELAB says six-month expansion program will narrow four validated compounds to lead candidate and backup candidate for further development
** Program follows positive preliminary laboratory results announced in July, where the compounds increased ANT1, a protein linked to muscle energy production
** Amendment strengthens NorthStrive's exclusive rights in obesity and heart disease and adds a right of first refusal across broader cardiometabolic diseases
** Co expects updates from key milestones, including candidate selection, over the next six months
** As of last close, stock down ~99% YTD
(Reporting by Sahil Pandey in Bengaluru)
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Pmgc Holdings Rises As Unit Expands Rights To Ai: discovered obesity, heart disease drug program