PMGC Holdings Inc. (NASDAQ: ELAB) has entered a non-binding term sheet with Australia-based Orbit2Orbit Pty Ltd to establish a multi-faceted partnership spanning space research, aerospace manufacturing and a strategic equity investment.
The proposed agreement includes three key components. First, NorthStrive Biosciences Inc., a wholly owned subsidiary of PMGC, will collaborate with Orbit2Orbit on the Mice2Space program, a live-animal research initiative evaluating two therapeutic candidates—EL-22 and EL-32—for muscle retention in microgravity conditions. Orbit2Orbit will lead the design and engineering of the payload enclosure in Australia, while NorthStrive Bio will oversee scientific study design and analysis. Data and study protocols will remain with NorthStrive Bio, while Orbit2Orbit retains ownership of the platform and related systems.
Second, A&B Aerospace Inc., another PMGC subsidiary, will act as Orbit2Orbit’s preferred U.S.-based manufacturing partner, providing precision machining and production services for flight hardware, spacecraft components and payload interfaces. This includes final hardware for the Mice2Space program.
Third, PMGC intends to invest CAD $200,000 in Orbit2Orbit’s common shares at CAD $0.80 per share as part of the company’s ongoing private placement financing. Orbit2Orbit is also pursuing a proposed listing on the Canadian Securities Exchange via a reverse takeover with Credissential Inc. (CSE: WHIP).
The proposed transactions remain subject to due diligence, negotiation and execution of definitive agreements, corporate approvals and other closing conditions. The term sheet is non-binding, and completion of any transaction is not guaranteed.
