ELAB PMGC Holdings Inc

ELEVAI Labs Inc. (Nasdaq: ELAB) (“Elevai” or the “Company”), a diversified holding company, announces the launch of the S-Series Root Renewal System™ (the “Root Renewal System”), a revolutionary entry into the hair care market by its wholly owned subsidiary, Elevai Skincare Inc. (“Elevai Skincare”). The Root Renewal System is a three-part hair and scalp care system consisting of a shampoo, conditioner and serum that combines the latest in patent pending exosome and mitochondrial technology to target scalp and hair health at the cellular level.

This launch reflects Elevai Skincare’s ongoing commitment to science-driven, results-oriented innovations.

The Root Renewal System will be initially introduced through key medical aesthetics partners in select accounts across the United States. This phased rollout strategically positions the product as a premium offering ahead of the full launch, including e-commerce sales, in January 2025. Visit www.ElevaiSkincare.com for more information.

Exclusive Technologies and Groundbreaking Results

The Root Renewal System incorporates two proprietary technologies that, when combined, offer unparalleled results for scalp and hair health:

1. Elevai PREx Exosomes™: Nano-encapsulated growth factors protected by a lipid bilayer that support dormant hair follicles and overall scalp health.
2. Y100™ by Yuva Biosciences: An AI-discovered small molecule that supports mitochondrial function, which can result in increased cellular energy to rejuvenate hair follicles. BosleyMD® has lauded the Y100 technology as “one of the biggest innovations in hair loss we’ve seen in twenty-five years,” marking its first successful application in their new product line1.

“This system is a testament to our commitment to advancing the science of hair and scalp health,” said Dr. Jordan R. Plews, Chief Executive Officer of Elevai Skincare. “By combining our proprietary PREx Exosomes with Yuva Bio’s Y100 mitochondrial technology, we’ve developed a dual-mechanism solution that promotes follicle rejuvenation and scalp vitality. This groundbreaking synergy is backed by research and designed to deliver transformative results.”

The Root Renewal System builds upon ongoing research conducted by Elevai Skincare in partnership with Carly Klein, President of National Hair Loss Medical Aesthetics. Previous studies demonstrated the effectiveness of Elevai’s proprietary exosome technology in hair restoration, showing promising results in reversing hair thinning, reducing the signs of scalp inflammation, and promoting the recovery of dormant or miniaturized hair follicles.

Positioned for Market Leadership

“This launch marks a pivotal milestone for Elevai Skincare as its first new product launch since its current two and only products were launched in 2022, reflecting the strategic push for additional revenue streams under Elevai Labs’ new leadership,” said Graydon Bensler, Chief Executive Officer of Elevai Skincare parent company, Elevai Labs. “The Root Renewal System adds a breakthrough product to Elevai Skincare’s portfolio, addressing growing demand in the high-growth hair care market. The Skincare sales team will be leveraging their strong relationships in the medical aesthetics space to position this product for early success, with a broader consumer rollout planned for January 2025. This launch not only strengthens Elevai Skincare’s product offering but also creates significant new opportunities for growth and profitability.”

About Elevai Labs, Inc.

Elevai Labs Inc. (NASDAQ: ELAB) specializes in medical aesthetics and biopharmaceutical drug development, focusing on innovations for skin aesthetics and treatments tied to obesity and metabolic health. The Company operates a diverse portfolio of three wholly owned subsidiaries across the medical aesthetics and biopharmaceutical sectors, Elevai Skincare Inc., Elevai Biosciences Inc., and Elevai Research Inc. For more information please visit www.elevailabs.com.

About Elevai Skincare Inc.

A subsidiary of Elevai, Elevai Skincare is a medical aesthetics company 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. For more information, please visit elevaiskincare.com.

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. Forward-looking statements are made as of the date of this press release and are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy, activities of regulators and future regulations and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results. Therefore, you should not rely on any of these 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; Elevai’s dependence on third parties in connection with manufacturing, clinical trials and preclinical studies; and Elevai’s expectations regarding its growth, strategy, progress and the design, objectives and timing of its studies. These and other risks are described more fully in Elevai’s filings with the United States 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. Investors and security holders are urged to read these documents free of charge on the SEC’s web site at www.sec.gov. 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.

IR Contact:IR@ElevaiLabs.com

1 “One of the Biggest Innovations in Hair Loss We’ve Seen in Twenty-Five Years” — BosleyMD® Teams With Start-up Yuva Biosciences in National Launch of Breakthrough Technology | Business Wire