NorthStrive Defense Tech LLC, a wholly owned subsidiary of PMGC Holdings Inc., has entered into a binding term sheet with Florida State University Research Foundation, Inc. to secure an exclusive patent license for aerospace and defense technologies. The agreement, signed on June 2, 2026, grants NorthStrive Defense Tech worldwide, sublicensable rights to U.S. Patent No. 12,291,334 and related know-how. This strategic move allows the subsidiary to integrate specific patented technologies into its product offerings under a defined development framework.

Financial Terms and Obligations

The financial structure of the license is based on a tiered earned royalty arrangement payable to Florida State University Research Foundation. Royalties are calculated as a percentage of net sales from licensed products, with the rate varying by product category and cumulative net sales. The agreement stipulates an annual minimum royalty payment and a sublicensing revenue share percentage to be paid to the foundation. Additionally, NorthStrive Defense Tech is obligated to pay an annual license maintenance fee.

Development Plan and Conditions

As part of the term sheet, NorthStrive Defense Tech agreed to pursue a multi-year development plan using commercially reasonable efforts, as detailed in Appendix B of the agreement. The development timelines within this plan are subject to adjustment based on evolving technical, funding, and market conditions, provided such changes are agreed upon by both parties. Florida State University Research Foundation retains all rights not expressly granted in the term sheet.