Investor interest in Longevity Health Holdings, Inc. (NASDAQ: XAGE) spiked during the pre-market session, and at the last check, shares had risen 74.67% to $4.62.
The surge comes after True Health Inc., a major participant in the plasma collection sector and the operator of THPlasma, announced a definitive merger agreement. Due to the merger’s all-stock structure, the merged company will continue to trade on the Nasdaq with the symbol “XAGE.”
Entering the Plasma Therapeutics Market Strategically
Longevity Health had already acquired Carmell Therapeutics in July 2023 and Elevai Skincare in January 2025; this strategic move is the company’s most recent expansion step. XAGE’s growing emphasis on biologics is shown in Elevai’s use of hUM stem cell exosomes, whereas Carmell’s platform is focused on plasma-derived growth factors. Concurrent with the THPlasma agreement, Longevity also announced the mutual termination of its previous deal with 20/20 BioLabs.
THPlasma’s Growth Trajectory and Financial Strength
Although the United States accounts for more than 60% of the world’s plasma supply, there is still a significant need for plasma-derived medicines, which THPlasma is working to answer. From two plasma collection facilities in New Jersey in FY24 to five facilities in New Jersey and Pennsylvania in FY25, the firm is growing quickly.
With guaranteed annual sales offtake agreements totaling $100 million and having achieved cash profitability in FY2024, THPlasma stands out as a fast-growing and financially sound business. The transaction values THPlasma at $59 million with an additional $20 million earnout contingent on achieving financial targets—equating to a 2.5x FY26E revenue multiple.
Longevity Health’s stock is being valued at $3.00 per share in the transaction, reflecting a 12% premium over its July 11 closing price. Notably, the deal includes no cash conditions precedent to closing.
Leadership Structure and Forward-Looking Outlook
Following closing, George Chi, the founder and CEO of THPlasma, will serve as Co-Chairman and CEO, while Rajiv Shukla will take over as Executive Chairman. The deal, which has been unanimously authorized by the boards of both businesses, is anticipated to close in Q4 2025, subject to regulatory and shareholder clearance.
Through improved market access and future M&A possibilities, the combination is expected to propel THPlasma’s expansion, providing Longevity (XAGE) shareholders with value and establishing the merged business as a leading pioneer in the biologics industry.
