Elevai Labs (NASDAQ: ELAB) Enters Master Services Agreement with KCRN Research, Inc.

Elevai Labs Inc. reported through an SEC filing that its subsidiary, Elevai Biosciences Inc., has initiated a Master Services Agreement (MSA) with KCRN Research, Inc. The MSA, entered into on October 21, 2024, aims to support Elevai Biosciences in its endeavors to develop and submit an Investigational New Drug (IND) application to the U.S. Food and Drug Administration (FDA) for EL-22, targeted at tackling obesity and preserving muscle mass.

Under the terms of the agreement, KCRN will provide clinical and regulatory services to Elevai Biosciences in distinct work orders. The initial phase involves submitting a pre-IND meeting request to the FDA to discuss the regulatory path of EL-22. Subsequent phases include preparing for the pre-IND meeting and attending the meeting itself. Additional services may be specified under new work orders as needed.

The MSA is structured to last for an initial term of three years starting from October 21, 2024, with automatic renewal for successive one-year terms unless terminated with a 30-day notice. Both parties have the option to terminate a work order with a 30-day written notice. Moreover, the MSA may be discontinued if a party defaults on its obligations, becomes insolvent, or undergoes certain financial setbacks as outlined in the agreement.

While this summary sheds light on the MSA and the initial Work Order No. 1, full details can be found in the documents filed with the SEC.

The SEC filing also included forward-looking statements, acknowledging uncertainties that could potentially affect the Company’s actual results compared to the expectations outlined in the report. Investors are advised to consider various factors, including risk factors detailed in the Company’s SEC reports.

As per regulatory requirements, Elevai Labs Inc. submitted necessary financial statements and exhibits as part of the filing, including the Master Services Agreement and Work Order No. 1 dated October 21, 2024.

Investors and interested parties can access the full SEC filing for more comprehensive insights into the reported agreement and its implications on Elevai Labs Inc.’s operations and strategic initiatives.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Elevai Labs’s 8K filing here.

Elevai Labs Company Profile

Elevai Labs, Inc, a skincare development company, designs, manufactures, and markets skincare products. Its products include Empower and Enfinity post-skincare procedure care serums for the face, neck, and upper chest regions. The company was formerly known as Reactive Medical Labs Inc and changed its name to Elevai Labs, Inc in December 2021.