ELAB PMGC Holdings Inc

Elevai Labs, Inc. (NASDAQ: ELAB) (“Elevai” or the “Company”), a pioneering force in medical aesthetics, today announced positive case study results from patients undergoing laser therapy followed by use of Elevai E-Series for applications in melasma. Elevai believes that these case studies can be the premise for future exosome research on effective melasma solutions.

Melasma is a common skin condition characterized by the appearance of hyperpigmented patches and spots, typically on the face. The condition primarily affects adult women, especially those with Fitzpatrick skin types III to V.1 Management of melasma typically involves daily sun protection followed by a variety of treatments, including topical applications, oral therapies, chemical peels, microneedling, laser procedures, and phototherapy.2

The case study assessments came from four female Vietnamese patients, aged 35 to 40 years old, diagnosed with moderate to severe mixed type melasma. Melasma lesions were concentrated and localized on both cheeks in all four patients. The Elevai E-Series was used in a study by renowned dermatologist Dr. Chau Ngoc To Trinh of the Citrine Derma Clinic in Ho Chi Minh City, Vietnam.

A triple combination method was applied, including 2940 nmEr:YAG fractional laser, 1064nm QS Nd:YAG laser and Elevai’s topical exosome products, Elevai empower™ and Elevai enfinity™, the E-Series. The four case studies on individuals with melasma experienced significant improvement after two months of using Elevai topical exosome products following laser treatment. After six months of follow-up, there was no melasma recurrence.

“Early results suggest that the combination of aesthetic laser treatment, followed by topical exosome use can be synergistic as a melasma solution,” said Jordan R. Plews, PhD, Chief Executive Officer of Elevai Skincare Inc. “The laser therapy breaks down melanin in the epidermis, while exosomes absorb into the skin and support the skin’s natural repair mechanisms, resulting in skin that appears naturally healthier, more balanced, and radiant.”

Data Bridge Market Research predicts that the global melasma treatment market, which reached $2.85 billion in 2022, will grow to $4.83 billion by 2030 and is expected to register a compound annual growth rate (CAGR) of 6.8% during the forecast period. Elevai and Citrine Derma Clinic are planning to perform future studies with larger sample sizes and longer follow-up periods to demonstrate the potential role of combining Elevai’s topical exosome products with laser therapy for melasma.

The complete results of this study are available for viewing at: https://elevaiskincare.com/pages/results

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.

Elevai Skincare Inc., a subsidiary of Elevai Labs Inc., is a medical aesthetics company developing and commercializing cutting-edge physician-dispensed skin and hair care applications. Elevai Skincare Inc. develops cosmetic products for the physician-dispensed market, with a focus on leveraging novel proprietary science-backed technologies, including its stem cell exosome technology. For more information, please visit www.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. 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. These forward-looking statements 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. 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 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.

Media Contact:Makenzie Manncontact@elevailabs.com

1 Sheth, V.M.; Pandya, A.G. Melasma: A Comprehensive Update: Part i. J. Am. Acad. Dermatol 2011, 65, 689–697.

2Jiryis B, Toledano O, Avitan-Hersh E, Khamaysi Z. Management of Melasma: Laser and Other Therapies-Review Study. J Clin Med. 2024 Mar 3;13(5):1468.

3Global Melasma Treatment Market – Industry Trends and Forecast to 2030