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Elevai Labs (NASDAQ: ELAB) Acquires Rights To Develop Muscle Loss Prevention Assets For Anticipated Use In Anti-Obesity Treatments, Launches Two New Subsidiaries

Published

5 months ago

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–News Direct–

By James Blacker, Benzinga

Some 42% of adults in the United States are affected by obesity, according to the U.S. CDC. At a global level, a new study released by the journal Lancet reveals that around 1 billion people are now living with obesity, with the number of obese adults having doubled since 1990 and quadrupled among children and adolescents.

The demand for solutions to escalating obesity rates is only growing. Goldman Sachs Research notes that the global market for anti-obesity drugs reached $6 billion on an annualized basis in 2023 and this global market is projected to experience a more than 16-fold increase to $100 billion by 2030. The global growth of anti-obesity drugs is expected to be led by drugs such as Ozempic and Wegovy, both manufactured by Novo Nordisk (NYSE: NVO), as well as Mounjaro, made by Eli Lilly And Co (NYSE: LLY).

However, there are concerns that GLP-1 drugs like Ozempic and Wegovy might lead to a loss of muscle mass along with fat mass. This potential side effect highlights a need for new or coinciding treatments that can address obesity while limiting such side effects.

Revolutionizing Obesity Treatment

Medical aesthetics and biopharmaceutical drug development company Elevai Labs Inc. (NASDAQ: ELAB) is working to address this problem. The firm announced on May 2 that it acquired exclusive rights to two new assets that have the potential to limit muscle loss prevention to develop in combination with GLP-1 obesity treatments namely EL-22, a clinical-stage engineered probiotic expressing myostatin, and EL-32, a preclinical engineered probiotic expressing dual myostatin & activin-A.

We believe the adoption and use of other GLP-1 drugs [] increases the desire for related aesthetic procedures linked to the side effects from these drugs, including significant unwanted muscle loss. We see the licensing of these two assets as an opportunity to provide an unmet need in the anti-obesity drug market and expand our brand into a large and growing multi-billion-dollar market, said Elevai Labs CEO Jordan R. Plews.

Elevai plans to test how effective and safe EL-22 is in combination with weight-loss medications currently available on the market. It expects to submit an Investigational New Drug application to the FDA in 2025 and hopes to initiate clinical trials in the U.S. soon thereafter.

New Subsidiaries

In line with its growth in the biotech industry, Elevai Labs announced on May 1 it launched two new wholly-owned subsidiaries Elevai Biosciences and Elevai Skincare.

Elevai Biosciences will focus on acquiring and developing cutting-edge aesthetic medicines, with EL-22 as its lead asset.

Elevai Skincare is a new entity that will continue to advance the companys skincare solutions. The company hopes that the reorganization of its skincare operations will boost focus, agility, and market penetration in order to capitalize on emerging opportunities in the medical aesthetics skincare market.

Commenting on the announcement, Co-founder and CEO Jordan R. Plews stated, The launch of Elevai Biosciences, Inc. and Elevai Skincare, Inc. as wholly-owned operating subsidiaries signifies a significant milestone in our journey towards reshaping the future of medical aesthetics and biotech. With Elevai Biosciences, we believe we are poised to lead the development of next-generation aesthetic medicines, while Elevai Skincare will continue to develop and deliver exceptional cosmetic solutions to our customers worldwide.

Featured photo by Prostock-studio on Shutterstock.

Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders.

Cautionary Note Regarding Forward-Looking Statements

Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Words such as "believes," "expects," "plans," "potential," "would" and "future" or similar expressions such as "look forward" are intended to identify forward-looking statements. Examples of these forward-looking statements include statements concerning: Elevai's expectations regarding its growth, strategy, progress and the design, objectives and timing of its clinical trials for EL-22; and the potential of EL-22 to treat obesity without an associated loss of muscle, both as a monotherapy and in combination with GLP-1 receptor agonists. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, among others: Elevai's limited operating history and historical losses; Elevai's ability to raise additional funding to complete the development and any commercialization of its product candidates; Elevai's dependence on the success of its product candidates EL-22 and EL-32; that Elevai may be delayed in initiating, enrolling or completing any clinical trials; competition from third parties that are developing products for similar uses; Elevai's ability to obtain, maintain and protect its intellectual property; and Elevai's dependence on third parties in connection with manufacturing, clinical trials and preclinical studies.

These and other risks are described more fully in Elevai's filings with the Securities and Exchange Commission ("SEC"), including the "Risk Factors" section of the Company's Annual Report on Form 10-K for the year ended December 31, 2023, filed with the SEC on March 29, 2024, and its other documents subsequently filed with or furnished to the SEC. All forward-looking statements contained in this press release speak only as of the date on which they were made. Except to the extent required by law, the Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice.

Contact Details

Benzinga

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http://www.benzinga.com

View source version on newsdirect.com: https://newsdirect.com/news/elevai-labs-nasdaq-elab-acquires-rights-to-develop-muscle-loss-prevention-assets-for-anticipated-use-in-anti-obesity-treatments-launches-two-new-subsidiaries-108007273

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Press Release

Exclusive Markets grandly celebrates the Winner of the Range Rover Contest in Dubai

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1 hour ago

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October 25, 2024

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Dubai, UAE, 25th October 2024, ZEX PR WIRE, In a majestic celebration, Exclusive Markets, a leading international provider of online multi-asset trading and related services, honoured the winner of the Range Rover Contest. After three months of intense competition, the most skilled trader emerged victorious, driving away with the luxurious car, valued at $130,000.

Who won the Grand Prize?

Exclusive Markets team flew to Dubai and arranged a glittery ceremony in the vibrant city. Amid the excitement and fanfare, Panagiotis Mouroudelis aka MasterMind from Greece, whose exceptional trading skills stood out among all participants, was presented with the keys of the grand prize, i.e. the brand-new Range Rover Sports SE.

The event was filled with celebrations and applause as everyone congratulated the winner.

Upon receiving the keys, the winner shared his excitement, stating, “This contest has been an incredible experience. It was a roller coaster filled with moments of highs and lows. However, winning the Range Rover is a dream come true, and I am grateful to Exclusive Markets for organizing such a rewarding contest.”

A Journey Filled with Excitement and Rewards:

The Range Rover Contest, designed to reward both strategic trading and perseverance, was launched with great excitement. Participants were required to make an initial deposit of $1000 and trade consistently, refining their skills and strategies as they moved closer to the ultimate prize. But it was not only about this. Every week, the top-performing traders were presented with weekly rewards that ranged from a $200 Trading Bonus to an iPhone 15 Pro Max.

These prizes added another layer of excitement to the contest, keeping participants engaged. However, the challenge was not only about winning but also about growth and learning, pushing traders to test their strategies and grow their expertise.

At last, Hemant Kumar, Exclusive Markets’ CMO, reflecting on the success of the contest, stated, “We are thrilled by the exceptional participation and competitive spirit shown by all traders. Congratulations to our weekly prize winners and especially to Panagiotis Mouroudelis for his outstanding performance. For those who couldn’t participate or weren’t as fortunate this time, stay tuned for more exciting contests ahead. Keep trading smarter, trading exclusive.”

About Exclusive Markets:

Exclusive Markets is dedicated to providing traders with a robust, secure, and transparent platform for investing in a variety of financial instruments. With a focus on cutting-edge technology and holding ISO/IEC 27001:2013 Certification by MSECB, Exclusive Markets offers traders an exceptional platform that seamlessly integrates advanced features with user-friendly interfaces.

Traders can access a wide array of trading instruments, including CFD stocks, commodities, forex, and spot metals. The company’s expert team is committed to meeting the evolving needs of its clients by continually expanding its range of products and services, allowing traders to invest according to their preferences.

Risk Warning: Trading involves risk.

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Press Release

Exclusive Markets’ Mr. Lambros Lambrou Honoured with ‘Top 50 Financial Markets CEO Awards 2024’ in Dubai

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2 hours ago

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October 25, 2024

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Dubai, UAE, 25th October 2024, ZEX PR WIRE, Exclusive Markets proudly announces that Mr. Lambros Lambrou, CEO of the esteemed organization, has been awarded the prestigious ‘Top 50 Financial Markets CEO Awards’ at the Middle East Financial Markets Awards Ceremony Dubai 2024 – 2nd Edition. This award is not only a testament to his exceptional leadership, visionary approach, and significant contributions to the financial sector but also highlights his dedication to excellence and his role in driving the success and growth of Exclusive Markets.

Lambros Lambrou leads Exclusive Markets, guiding the firm through dynamic market landscapes and ensuring sustained growth. His strategic vision has been instrumental in positioning Exclusive Markets as one of the top players in the global trading sector. Under his leadership, the firm has expanded its portfolio and consistently delivered exceptional value to its clients.

On receiving the award, Lambros Lambrou expressed his gratitude for the recognition, saying, “I am deeply honoured. It reflects the collective efforts of the entire team at Exclusive Markets. Together, we have strived to create an environment that fosters innovation, integrity, and excellence. This award inspires us to continue our journey towards setting new standards in the industry.”

This marks the relentless commitment to excellence of Lambros Lambrou. His innovative strategies and client centric approach have set new benchmarks in the industry. The leadership in Exclusive Markets is characterized by a deep understanding of market dynamics, a keen eye for emerging trends, and a passion for nurturing talent within the organization.

About Exclusive Markets

Exclusive Markets is committed to delivering a robust, secure, and transparent platform for investors in various financial instruments. With a strong emphasis on advanced technology and ISO/IEC 27001:2013 Certification from MSECB, Exclusive Markets provides traders with an outstanding platform that seamlessly blends advanced features with user-friendly interfaces.

Traders can explore a diverse selection of trading instruments, including CFD stocks, commodities, currencies, and spot metals. The company’s expert team is dedicated to meeting the evolving demands of clients by broadening the array of products and services, enabling traders to invest according to their unique preferences.

Risk Warning: Trading involves risk.

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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.

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Press Release

Exclusive Markets Receives Top Honors at International Business Magazine Awards 2024

Published

3 hours ago

on

October 25, 2024

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Dubai, UAE, 25th October 2024, ZEX PR WIRE, Exclusive Markets, a globally renowned leader in online multi-asset trading, has once again showcased its commitment to excellence by holding several prestigious awards at the highly esteemed International Business Magazine Awards 2024. The company has emerged victorious in the following categories:

  • Most Trusted Forex Broker Global 2024
  • Best FX Broker Global 2024
  • Best Customer Support Global 2024
  • Best Partners Program Global 2024
  • Most Transparent Broker Asia 2024

These esteemed awards reaffirm Exclusive Markets’ steady dedication to setting new benchmarks in the industry and delivering unmatched service to its worldwide clientele. The company’s forward-thinking strategies, which are always at the forefront of industry trends, its emphasis on transparency, and its unwavering focus on providing exceptional experiences for traders and partners have set it apart in the fiercely competitive market.

The official award presentation is scheduled to take place at the prestigious Grand Annual Awards Ceremony 2024 in the luxurious Atlantis, The Palm, Dubai, UAE, later this year. This highly anticipated event, set for Q4, will bring together top professionals from the global finance industry to celebrate outstanding achievements and innovation.

Hemant Kumar, Exclusive Markets’ CMO, expressed his gratitude, remarking, “Securing 5 prestigious awards is a testament to our relentless pursuit of excellence and the firm trust that our clients and partners have placed in us. Our entire team has worked tirelessly to uphold these values, and we take immense pride in seeing our efforts acknowledged on such a prestigious platform.”

With these remarkable awards, Exclusive Markets has further solidified its position as a revered leader in the Forex trading industry, strengthening its reputation as a company that prioritizes partnerships and remains dedicated to delivering unparalleled client satisfaction!

About Exclusive Markets

Exclusive Markets is dedicated to providing traders with a robust, secure, and transparent platform for investing in a variety of financial instruments. With a focus on cutting-edge technology and holding ISO/IEC 27001:2013 Certification by MSECB, Exclusive Markets offers traders an exceptional platform that seamlessly integrates advanced features with user-friendly interfaces.

Traders can access a wide array of trading instruments, including CFD stocks, commodities, forex, and spot metals. The company’s expert team is committed to meeting the evolving needs of its clients by continually expanding its range of products and services, allowing traders to invest according to their preferences.

Risk Warning: Trading involves risk.

About Author

Cloud PR Wire

See author's posts

Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.

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