Carmell Announces Execution of Definitive Agreement to Acquire Elevai Skincare, a leader in Physician Dispensed Exosome Skin and Hair Care Products
Carmell (NASDAQ: CTCX) has entered into a definitive agreement to acquire the skincare and haircare business assets of PMGC Holdings Inc. (NASDAQ: ELAB), formerly Elevai Labs Inc. The acquisition terms include:
- $1.1 million in Carmell common stock at closing
- $57,000 in cash for specified inventory
- 5% of net sales from existing products for 5 years
- $500,000 milestone payment if hair/scalp products reach $500,000 in revenue within 24 months
The acquired assets include a product portfolio with $2.5 million trailing twelve-month revenue, commercial and product development team, approximately $1.0 million in inventory, and $0.03 million in accounts receivable. The deal integrates stem cell derived exosome technology into Carmell's bio-aesthetic platform.
Carmell (NASDAQ: CTCX) ha stipulato un accordo definitivo per acquisire gli asset aziendali legati alla cura della pelle e dei capelli di PMGC Holdings Inc. (NASDAQ: ELAB), precedentemente Elevai Labs Inc. I termini dell'acquisizione includono:
- 1,1 milioni di dollari in azioni ordinarie di Carmell al momento della chiusura
- 57.000 dollari in contanti per inventario specifico
- 5% delle vendite nette dei prodotti esistenti per 5 anni
- Pagamento di 500.000 dollari al raggiungimento di 500.000 dollari di fatturato per i prodotti per capelli/scalp entro 24 mesi
Gli asset acquisiti includono un portafoglio prodotti con 2,5 milioni di dollari di fatturato negli ultimi dodici mesi, un team commerciale e di sviluppo prodotto, circa 1 milione di dollari in inventario e 30.000 dollari di crediti. L'accordo integra la tecnologia degli esosomi derivati da cellule staminali nella piattaforma bio-estetica di Carmell.
Carmell (NASDAQ: CTCX) ha llegado a un acuerdo definitivo para adquirir los activos comerciales de cuidado de la piel y del cabello de PMGC Holdings Inc. (NASDAQ: ELAB), anteriormente Elevai Labs Inc. Los t茅rminos de la adquisici贸n incluyen:
- 1,1 millones de d贸lares en acciones comunes de Carmell al cierre
- 57,000 d贸lares en efectivo para inventario espec铆fico
- 5% de las ventas netas de productos existentes durante 5 a帽os
- Pago de 500,000 d贸lares si los productos para cabello/cuero cabelludo alcanzan 500,000 d贸lares en ingresos dentro de 24 meses
Los activos adquiridos incluyen un portafolio de productos con 2,5 millones de d贸lares de ingresos en los 煤ltimos doce meses, un equipo comercial y de desarrollo de productos, aproximadamente 1 mill贸n de d贸lares en inventario y 30,000 d贸lares en cuentas por cobrar. El acuerdo integra tecnolog铆a de exosomas derivados de c茅lulas madre en la plataforma bioest茅tica de Carmell.
旃措 (NASDAQ: CTCX)电 PMGC 頇霐╈姢 Inc. (NASDAQ: ELAB), 鞚挫爠鞚 鞐橂爤氚旍澊 鞐瓣惮靻 Inc.鞚 鞀ろ偍旒鞏 氚 項れ柎旒鞏 靷梾 鞛愳偘鞚 鞚胳垬頃橁赴 鞙勴暅 頇曥爼 瓿勳暯鞚 觳搓舶頄堨姷雼堧嫟. 鞚胳垬 臁瓣贝鞚 雼れ潓瓿 臧欖姷雼堧嫟:
- 鞚胳垬 鞁 旃措鞚 氤错喌欤 110毵 雼煬
- 韸轨爼 鞛碃鞐 雽頃 順勱笀 57,000雼煬
- 旮办〈 鞝滍拡鞚 靾滊Г於 5%毳 5雲 霃欖晥
- 項れ柎/霊愴敿 鞝滍拡鞚 24臧滌洈 鞚措偞鞐 50毵 雼煬鞚 靾橃澋鞚 雼劚頃 瓴届毎 50毵 雼煬鞚 毵堨澕鞀ろ啢 歆旮
鞚胳垬霅 鞛愳偘鞐惖鐢 歆雮 12臧滌洈臧 250毵 雼煬鞚 靾橃澋鞚 旮半頃 鞝滍拡 韽姼韽措Μ鞓, 靸侅梾 氚 鞝滍拡 臧滊皽 韺, 鞎 100毵 雼煬鞚 鞛碃, 3毵 雼煬鞚 鞕胳儊毂勱秾鞚 韽暔霅╇媹雼. 鞚 瓯半灅电 旃措鞚 氚旍澊鞓-氙胳毄 頂岆灚韽检棎 欷勱赴靹疙彫 鞙犽灅鞚 鞕胳唽觳 旮办垹鞚 韱淀暕頃╇媹雼.
Carmell (NASDAQ: CTCX) a conclu un accord d茅finitif pour acqu茅rir les actifs commerciaux li茅s aux soins de la peau et des cheveux de PMGC Holdings Inc. (NASDAQ: ELAB), anciennement Elevai Labs Inc. Les termes de l'acquisition comprennent :
- 1,1 million de dollars en actions ordinaires de Carmell 脿 la cl么ture
- 57 000 dollars en esp猫ces pour un inventaire sp茅cifi茅
- 5 % des ventes nettes des produits existants pendant 5 ans
- Un paiement d'茅tape de 500 000 dollars si les produits pour les cheveux/scalp atteignent 500 000 dollars de revenus dans les 24 mois
Les actifs acquis comprennent un portefeuille de produits avec 2,5 millions de dollars de revenus au cours des douze derniers mois, une 茅quipe commerciale et de d茅veloppement de produits, environ 1 million de dollars d'inventaire et 30 000 dollars de cr茅ances. L'accord int猫gre la technologie d'exosomes d茅riv茅s de cellules souches dans la plateforme bio-esth茅tique de Carmell.
Carmell (NASDAQ: CTCX) hat eine endg眉ltige Vereinbarung zur 脺bernahme der Gesch盲ftsanteile im Bereich Haut- und Haarpflege von PMGC Holdings Inc. (NASDAQ: ELAB), fr眉her Elevai Labs Inc., getroffen. Die Bedingungen der 脺bernahme umfassen:
- 1,1 Millionen Dollar in Stammaktien von Carmell zum Zeitpunkt des Abschlusses
- 57.000 Dollar in bar f眉r spezifisches Inventar
- 5% des Nettoumsatzes aus bestehenden Produkten 眉ber 5 Jahre
- Eine Meilensteinzahlung von 500.000 Dollar, wenn Haar-/Skalpprodukte innerhalb von 24 Monaten einen Umsatz von 500.000 Dollar erreichen
Die 眉bernommenen Verm枚genswerte umfassen ein Produktportfolio mit einem Umsatz von 2,5 Millionen Dollar in den letzten zw枚lf Monaten, ein kommerzielles und produktentwicklungsteam, etwa 1 Million Dollar an Inventar und 30.000 Dollar an Forderungen. Der Deal integriert die Technologie von aus Stammzellen gewonnenen Exosomen in die bio-盲sthetische Plattform von Carmell.
- Acquisition of product portfolio with $2.5M trailing twelve-month revenue
- Strategic acquisition of exosome technology expanding product capabilities
- Asset acquisition includes $1.0M in inventory value
- Performance-based earnout structure limits upfront capital requirements
- Issuance of common stock for acquisition causing shareholder dilution
- Assumption of contractual liabilities and trade payables of unknown value
- Low accounts receivable value of only $0.03M indicating potential collection issues
Insights
This acquisition represents a strategic move in the bio-aesthetics space, with interesting deal structuring. The
The earnout structure, including
For PMGC Holdings shareholders, this deal provides an exit opportunity while maintaining upside exposure through the earnout structure. For Carmell, the acquisition cost is primarily stock-based, preserving cash while expanding their product portfolio and technical capabilities in the growing exosome skincare market.
The acquisition of Elevai's exosome-based skincare platform represents a significant technological advancement for Carmell's bio-aesthetics portfolio. Exosomes, tiny vesicles released by stem cells, are at the cutting edge of regenerative skincare science. They can deliver complex biological signals that promote tissue repair and regeneration - essentially working as natural, biological messengers to improve skin health.
The integration of Elevai's commercial team and product development capabilities suggests Carmell is positioning itself as a comprehensive player in the physician-dispensed skincare market. This segment typically commands premium pricing and higher margins compared to mass-market skincare products. The acquisition could accelerate Carmell's R&D timeline in hair restoration, a rapidly growing market segment where exosome technology shows promising applications.
NEWPORT BEACH, Calif., Jan. 02, 2025 (GLOBE NEWSWIRE) -- PMGC Holdings Inc (NASDAQ: ELAB), a diversified holding company, and Carmell Corporation (Nasdaq: CTCX), a bio-aesthetics company focused on skin and hair health (鈥淐armell鈥, the 鈥淐ompany鈥, 鈥渨e鈥, 鈥渙ur鈥, or 鈥渦s鈥), today announced that it entered into a definitive purchase agreement with PMGC Holdings Inc. (formerly Elevai Labs Inc.) and its wholly owned subsidiary, Elevai Skincare Inc. (鈥淓levai鈥), to acquire the assets related to its skincare and haircare business (the 鈥淎cquisition鈥).
The purchase consideration for the Acquisition is as follows:
- Approximately
$1.1 million in Carmell common stock at the closing of the Acquisition (the 鈥淐losing鈥); - Approximately
$57,000 in cash upon the sale of specified inventory existing as of the Closing; - Contingent earnout consideration consisting of:
5% of net sales from Elevai鈥檚 existing products paid annually during the 5-year period following the Closing, and- a one-time milestone payment of
$500,000 if Elevai鈥檚 hair and scalp products achieve$500,000 in net revenue within 24 months following the Closing; and
- Carmell鈥檚 assumption of contractual liabilities and trade payables of Elevai at the Closing.
As part of the Acquisition, Carmell expects to acquire the following assets of Elevai:
- Product portfolio with trailing twelve-month revenue of approximately
$2.5 million ; - Commercial and product development team;
- Finished and work-in-process inventory of approximately
$1.0 million ; and - Accounts receivable of approximately
$0.03 million .
Said Mr. Rajiv Shukla, Chairman of Carmell, 鈥淭his acquisition will integrate one of the newest advances in stem cell derived exosome technology into the Carmell platform, further cementing our status as the home of the best bio-aesthetic skincare science, Built by Biology just as Nature intended.鈥
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Elevai Skincare Inc.
A subsidiary of PMGC Holdings, Elevai is developing and commercializing cutting-edge physician-dispensed skin and hair care applications that focuses on science-backed applications for the physician-dispensed market, utilizing cutting-edge technologies to redefine skincare and hair care, including its stem cell exosome technology.
About Carmell
Carmell is a bio-aesthetics company that utilizes the Carmell Secretome鈩⒙爐o support skin and hair health. The Carmell Secretome鈩⒙燾onsists of a potent cocktail of growth factors and proteins extracted from allogeneic human platelets sourced from U.S. Food and Drug Administration-approved tissue banks. Over the past 7 years, the Company has extensively tested the technology underpinning the Carmell Secretome鈩. Additionally, the Company has developed a novel microemulsion formulation that enables delivery of lipophilic and hydrophilic ingredients without relying on the Foul Fourteen鈩, 14 potentially harmful excipients that are commonly used by other companies to impart texture, stability, and other desirable physicochemical attributes to cosmetic products. Carmell鈥檚 microemulsion formulations do not utilize mineral or vegetable oils and are designed to be non-comedogenic. The Company is also developing a line of men鈥檚 products and a line of topical haircare products. All products are tailored to meet the demanding technical requirements of professional care providers and discerning retail consumers. For more information, visit聽.
Forward-Looking Statements
This press release contains forward-looking statements that are based on beliefs, assumptions and information currently available. In some cases, you can identify forward-looking statements by the following words: 鈥渕ay,鈥 鈥渨ill,鈥 鈥渃ould,鈥 鈥渨ould,鈥 鈥渟hould,鈥 鈥渆xpect,鈥 鈥渋ntend,鈥 鈥減lan,鈥 鈥渁nticipate,鈥 鈥渂elieve,鈥 鈥渆stimate,鈥 鈥減redict,鈥 鈥減roject,鈥 鈥減otential,鈥 鈥渃ontinue,鈥 鈥渙ngoing鈥 or the negative of these terms or other comparable terminology. However, not all forward-looking statements contain these words. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. Although we believe that we have a reasonable basis for each forward-looking statement contained in this press release, we caution you that these statements are based on a combination of facts and factors currently known by us and our projections of the future, about which we cannot be certain. Forward-looking statements in this press release include, but are not limited to, statements regarding the consummation of the Acquisition, the composition of the purchased assets in the Acquisition upon the Closing, our ability to integrate Elevai鈥檚 business, our ability to realize the anticipated benefits of the Acquisition, the impact of the Acquisition on our business, the launch and commercialization of our products, and the execution of our business strategy. We cannot assure you that the forward-looking statements in this press release will prove to be accurate. These forward-looking statements are subject to a number of significant risks and uncertainties that could cause actual results to differ materially from expected results, including, among others, uncertainties as to the timing of the Acquisition and the risk that the Acquisition may not be completed in a timely manner or at all, satisfaction or waiver of the conditions to closing of the Acquisition, risks related to the ability to realize the anticipated benefits of the Acquisition, risks related to the diversion of management鈥檚 attention from our ongoing business, the effect of the announcement or pendency of the Acquisition on our business and employee relationships, the risk of unknown liabilities arising after the Acquisition, the ability to recognize anticipated benefits from our commercial products, R&D pipeline, distribution agreements, changes in applicable laws or regulations, the possibility that we may be adversely affected by other economic, business, and/or competitive factors, and other risks and uncertainties, those described under the header 鈥淩isk Factors鈥 in the Annual Report on Form 10-K filed by Carmell with the SEC on April 1, 2024, and in our other reports filed with the SEC. Most of these factors are outside of Carmell鈥檚 control and are difficult to predict. Furthermore, if the forward-looking statements prove to be inaccurate, the inaccuracy may be material. In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by us or any other person that we will achieve our objectives and plans in any specified time frame or at all. Except as required by law, we undertake no obligation to publicly update any forward-looking statement contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. You should, therefore, not rely on these forward-looking statements as representing our views as of any date subsequent to the date of this press release.
Contact:
IR@pmgcholdings.com
FAQ
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