PMGC Holdings Inc. (NASDAQ: ELAB) filed its annual report for fiscal year 2025, reporting total assets of $12.87 million compared to $8.99 million in 2024, representing a 43% increase. Shareholders' equity rose to $7.84 million from $6.66 million in the prior year.

The company completed three acquisitions during 2025 in precision manufacturing and industrial packaging sectors. Pacific Sun Packaging, acquired July 7, provides specialized packaging for semiconductor and data infrastructure components, serving over 300 customers across North America. AGA Precision Systems, acquired July 18, operates as a certified precision manufacturer for aerospace and defense customers with ITAR registration and AS9100 certification. PMGC completed a third acquisition through AGA with the purchase of Indarg Engineering assets on October 26.

The company's biopharmaceutical subsidiary, Northstrive Biosciences, advanced multiple programs focused on muscle preservation in patients using GLP-1 weight loss treatments. The FDA provided preliminary feedback indicating that nonclinical and Phase 1 data for lead asset EL-22 appear adequate to support a Phase 2 clinical trial application in the United States.

Northstrive initiated a preclinical study for EL-32 in March 2026 and executed an exclusive license agreement with Modulant Biosciences in February 2026 for animal health applications of its EL-22 and EL-32 products. The subsidiary's AI drug discovery program with Yuva Biosciences progressed to experimental validation phase in December 2025.

The information is based on the company's press release announcing the filing of its Form 10-K with the Securities and Exchange Commission.