Core Insights - Elutia Inc. has entered into a definitive agreement to sell its EluPro™ and CanGaroo® bioenvelopes to Boston Scientific Corporation for $88 million in cash, highlighting the strength of its drug-eluting biologics platform and enabling further development of its product pipeline without shareholder dilution [1][4] Financial Impact - The transaction is expected to transform Elutia's balance sheet, allowing the company to eliminate outstanding debt and resolve litigation from its previously divested Orthobiologics business, while significantly reducing its burn rate [8] - The sale fully funds the advancement and commercialization of NXT-41 and NXT-41x, positioning Elutia for cash-flow positive operations without diluting shareholder equity [8] Market Positioning - Elutia aims to leverage its experience from the successful launch of EluPro to address the $1.5 billion breast reconstruction market with its novel technology NXT-41x, which is designed to support women recovering from breast cancer [3][8] - The company has secured seven national group purchasing organization contracts and over 160 value analysis committee approvals for EluPro, demonstrating its capability to develop and commercialize regulated medical products [2] Upcoming Events - Elutia will provide a company update at the H.C. Wainwright 27th Annual Global Investment Conference on September 10, 2025, at 9:30 a.m. ET [5]
Elutia Announces Sale of BioEnvelope Business to Boston Scientific Corporation for $88 Million