ELEVAI Labs Inc. Announces Issuance of Patent from U.S. Patent & Trademark Office

NEWPORT BEACH, Calif., Jan. 24, 2024 (GLOBE NEWSWIRE) -- ELEVAI LABS, INC., (NASDAQ: ELAB) a medical aesthetic company specializing in physician-dispensed skincare, is pleased to announce today that the United States Patent & Trademark Office (USPTO) issued US Patent No. 11,878,038, entitled “Exosome-based Skincare Product” (the “Patent”) covering the primary formulation for ELEVAI’s exosome-based skin care products. The ELEVAI exosomes™ used in ELEVAI Labs’ formulations are derived from specially cultured and treated umbilical mesenchymal stem cells to generate a specific profile for the applications desired. ELEVAI’s enfinity™ and empower™ formulations are both covered by the Patent.

“We are pleased the USPTO has issued this critical patent, which is the first step towards building ELEVAI’s patent moat in the aesthetics market. The Company will continue to strive to invent or acquire the best and most technically advanced products, which we believe will maintain ELEVAI’s competitive edge in the physician-dispensed skincare market and beyond,” said ELEVAI co-founder and CEO, Jordan R. Plews, PhD.

About ELEVAI Labs

ELEVAI Labs, Inc. (NASDAQ: ELAB) is a medical aesthetics company developing cutting-edge physician-dispensed skin care applications. The company solves unmet needs in the medical aesthetics space through a combination of cutting-edge science-driven and next-generation consumer applications. ELEVAI Labs develops topical aesthetic skin care cosmetic products for the physician-dispensed market, with a focus on leveraging a proprietary stem cell exosome technology. For more information visit www.elevaiskincare.com.

Forward-Looking Statements

Certain statements made in this press release are "forward-looking statements'' within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified using words such as "anticipate", "believe", "expect", "estimate", "plan", "outlook", and "project" and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements reflect the current analysis of existing information and are subject to various risks and uncertainties. As a result, caution must be exercised in relying on forward-looking statements. Due to known and unknown risks, actual results may differ materially from the Company’s expectations or projections. The following factors, among others, could cause actual results to differ materially from those described in these forward-looking statements: (i) the failure to meet projected research & development and production targets; (ii) changes in applicable laws or regulations; and (iii) other risks and uncertainties described herein, as well as those risks and uncertainties discussed from time to time in other reports and other public filings with the Securities and Exchange Commission (the "SEC"). These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions and the completion of the initial public offering on the anticipated terms or at all, and other factors discussed in the “Risk Factors” section of the registration statement filed with the SEC. The Company’s SEC filings are available publicly on the SEC’s website at www.sec.gov. Any forward-looking statement made by us in this press release is based only on information currently available to the Company and speaks only as of the date on which it is made. The Company undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether because of new information, future developments, or otherwise, except as required by law.

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