PMGC Holdings Inc. (Nasdaq: ELAB) has signed a non-binding term sheet with Australia-based space technology company Orbit2Orbit Pty Ltd, outlining a proposed three-part relationship involving a spaceflight research study, an aerospace manufacturing partnership, and a strategic investment.

Under the proposed arrangement, PMGC's wholly owned subsidiary NorthStrive Biosciences Inc. would collaborate with Orbit2Orbit on a live-animal spaceflight study using Orbit2Orbit's Mice2Space platform. The study would evaluate NorthStrive's drug candidates EL-22 and EL-32, both engineered probiotics designed to target proteins that inhibit skeletal muscle growth, in mice under real microgravity conditions compared with Earth-based controls.

Orbit2Orbit would lead the design and engineering of the payload enclosure in Australia, while PMGC's aerospace manufacturing subsidiary A&B Aerospace Inc., headquartered in Azusa, California, would manufacture the final flight hardware in the United States. NorthStrive would retain ownership of its study protocols, preclinical data, and results, while Orbit2Orbit would retain ownership of the Mice2Space platform and related systems.

The term sheet also contemplates A&B Aerospace serving as Orbit2Orbit's preferred U.S.-based manufacturing partner, providing precision machining, fabrication, and related services for Orbit2Orbit's prototypes, spacecraft components, and ground support equipment.

As part of the proposed relationship, PMGC intends to invest CAD $200,000 in Orbit2Orbit common shares at CAD $0.80 per share, in connection with Orbit2Orbit's current private placement and its proposed listing on the Canadian Securities Exchange through a reverse takeover of Credissential Inc. (CSE: WHIP).

All proposed transactions remain subject to due diligence, negotiation and execution of definitive agreements, applicable corporate approvals, and other customary closing conditions. The term sheet is non-binding, and there is no assurance that definitive agreements will be reached or that the transactions will be completed.