PMGC Holdings Inc. (NASDAQ: ELAB) announced the formation of a new wholly owned subsidiary, NorthStrive Defense Tech LLC, to operate in the defense technology sector with focus on drone technology and autonomous systems.

The Newport Beach-based diversified holding company said NorthStrive Defense Tech will serve as a platform to identify, acquire, and license advanced defense technologies through acquisition, licensing, and partnership channels.

PMGC stated it plans to leverage its existing subsidiaries, AGA Precision Systems LLC and Silicon Valley Machining Inc., which already work with companies in the aerospace, defense, and space sectors, to accelerate commercialization through established customer relationships.

The company said it views NorthStrive Defense Tech as a vehicle to build a pipeline of defense-related technologies and evaluate commercialization pathways including acquisitions, strategic partnerships, licensing arrangements, and formation of standalone operating entities.

PMGC noted in the announcement that there can be no assurance NorthStrive Defense Tech will successfully identify, acquire, license, or commercialize any defense technologies, or that such activities will result in revenue generation or operational success.

The company said it intends to make a follow-up announcement shortly regarding the subsidiary's activities.