PMGC Holdings Inc (ELAB) is a diversified holding company operating across specialty packaging, precision contract manufacturing, early-stage biopharmaceuticals, and investment activities. Revenue is generated through direct customer contracts at Pacific Sun Packaging Inc., which supplies custom-engineered protective packaging for IT hardware components, and through contract manufacturing at AGA Precision Systems LLC, a CNC machine shop serving aerospace, defense, and industrial customers. NorthStrive Biosciences Inc., a wholly owned subsidiary, is in preclinical development with lead asset EL-22, an oral engineered probiotic targeting muscle preservation in patients using GLP-1 receptor agonists for obesity, with no commercial revenue from this segment as of the 10-K filed March 30, 2026. PMGC Capital LLC operates as a multi-strategy investment arm focused on direct investments, structured lending, and asset acquisition. The company has relied on financing activities to fund operations, and PMGC Research Inc. was dissolved on November 12, 2025. AGA Precision Systems acquired certain assets of Indarg Engineering Inc., a California-based CNC machining business, on October 26, 2025.

Revenue model

Pacific Sun Packaging generates transactional revenue through custom packaging supply contracts with semiconductor, data center, and IT hardware customers. AGA Precision Systems generates revenue through contract manufacturing and precision machining services. PMGC Capital generates returns through direct investments and strategic lending. NorthStrive Biosciences has no product revenue as of the filing date; the company has disclosed aspirations for IND submission in 2026 contingent on working capital availability.

Products and services

Pacific Sun Packaging: custom-engineered protective packaging for CPUs, DIMMs, SO-DIMMs, SSDs, HDDs, and fiber-optic transceivers. AGA Precision Systems: high-tolerance CNC milling, turning, mold manufacturing, and machining of complex metals including titanium and Inconel. NorthStrive Biosciences: preclinical oral myostatin inhibitor EL-22 (engineered probiotic) and EL-32, targeting muscle preservation in GLP-1 obesity therapy; six non-provisional US patent applications filed between September 2024 and April 2025. PMGC Capital: direct investments, structured financings, and acquisition of undervalued assets.

Customers and end markets

Pacific Sun Packaging serves the semiconductor, data center, and networking equipment supply chains. AGA Precision Systems serves aerospace, defense, and industrial customers requiring high-tolerance precision components. NorthStrive Biosciences targets the obesity and muscle-wasting therapeutic market, with EL-22 designed as a complement to GLP-1 receptor agonist therapies. PMGC Capital targets public and private market investment opportunities across diverse sectors.

Value-chain role

Pacific Sun Packaging is a specialized component-level packaging supplier sitting between component manufacturers and end-market assemblers in the IT hardware supply chain. AGA Precision Systems is a contract manufacturer supplying precision machined components to aerospace, defense, and industrial OEMs. NorthStrive Biosciences is an early-stage drug developer with no commercial products. PMGC Capital is a principal investor and acquirer.

Geographic exposure

Pacific Sun Packaging and AGA Precision Systems are California-based. PMGC Research, previously based in Canada, was dissolved on November 12, 2025. No further geographic revenue breakdown is disclosed in the filing excerpts.

Competitors

Novo Nordisk (Ozempic, Wegovy), Eli Lilly (Mounjaro), Large multinational packaging companies (unnamed in filing), Smaller specialized packaging providers (unnamed in filing)

Source: SEC 10-K, filed 2026-03-30

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