PMGC subsidiary NorthStrive Defense Tech secures exclusive license tied to aerospace patent
The license grants rights to a patented technology and know-how for use in aerospace and defense applications, with royalties and milestone obligations attached.
On June 30, 2026, NorthStrive Defense Tech LLC, a wholly owned subsidiary of PMGC Holdings Inc., entered into a Standard Exclusive License Agreement with Know-How with an unnamed licensor.1
Under the deal, the licensor granted NorthStrive Defense Tech a worldwide, non-transferable, exclusive license covering U.S. Patent No. 12,291,334 and related know-how, applicable to aerospace and defense technologies.1 NorthStrive Defense Tech also holds the right to grant sublicenses to third parties, subject to the agreement's terms.1
The company has committed to a development timeline. NorthStrive Defense Tech supplied the licensor with a development plan and must deliver a written development report every January 15, detailing development and commercialization progress, along with manufacturing specifics at least one year ahead of any commercial production.1 Failing to substantially follow the development plan or hit a diligence milestone would count as a material breach.1
Financial terms include several payment obligations. NorthStrive Defense Tech owes the licensor a non-refundable, non-creditable license issue fee due within 30 days of the effective date.1 An annual license maintenance fee also applies starting on the first anniversary, continuing until the year first net sales of a licensed product occur.1 Royalties and sublicense payments are also required under the agreement's terms.1
On duration, royalty obligations run product by product and country by country until the later of patent expiration or twelve years from first net sale in that country.1 NorthStrive Defense Tech can exit the agreement without cause after the first anniversary with 60 days' written notice.1 The licensor retains several termination rights tied to nonpayment or uncured breaches, per provisions allowing termination if fees go unpaid within 30 days, if a breach is not cured within 30 days of notice, or after a second payment default within a three-year span.1
The filing was signed by CEO Graydon Bensler on July 7, 2026, per the 8-K's signature page.
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