Elevai Labs has entered into a license agreement with MOA Life Plus Co., Ltd. to exclusively develop and commercialize two engineered probiotic assets, EL-22 and EL-32, for the treatment of obesity and muscle loss prevention. EL-22 is a clinical-stage probiotic expressing myostatin, while EL-32 is a preclinical probiotic expressing dual myostatin and activin-A antigens. The agreement grants Elevai global rights, excluding South Korea, and includes an upfront payment of $400,000 and 950,000 shares of Elevai common stock to MOA. Elevai will also pay single-digit and low double-digit royalties on net sales of the licensed products, as well as milestone payments for development and sales achievements. Elevai is obligated to commercialize at least one of the licensed products after human clinical trials and regulatory approvals. The company plans to submit an Investigational New Drug (IND) application in 2025 and initiate clinical trials in the U.S. to evaluate the probiotic approach of EL-22 and EL-32 in combination with GLP-1 receptor agonists for obesity treatment. Elevai has also formed two new wholly-owned subsidiaries, Elevai Skincare, Inc. and Elevai Biosciences, Inc., to separate its skincare and biopharmaceutical businesses.