Elutia sells BioEnvelope business to Boston Scientific for $88 million

Elutia Inc. (NASDAQ: ELUT) announced it has entered into a definitive agreement to sell its EluPro and CanGaroo bioenvelopes business to Boston Scientific Corporation (NYSE: BSX) for $88 million in cash.

The bioenvelopes are designed to protect patients receiving implantable medical devices. The transaction is expected to close in the fourth quarter of 2025, subject to customary closing conditions.

"EluPro has clearly demonstrated that our proprietary drug-eluting biologics platform works at scale," said Dr. Randy Mills, CEO of Elutia. "With the successful launch of EluPro, seven national group purchasing organization contracts secured and more than 160 value analysis committee approvals, we have shown that we can develop, manufacture and commercialize these highly regulated breakthrough products."

The company stated the sale will enable it to eliminate outstanding debt, resolve litigation from its previously divested Orthobiologics business, and reduce its burn rate. Elutia plans to use the proceeds to fund advancement of its NXT-41 and NXT-41x products in the breast reconstruction market without shareholder dilution.

The sale allows Elutia to focus resources on its SimpliDerm franchise and drug-eluting pipeline in what the company describes as the $1.5 billion U.S. breast reconstruction market.

BofA Securities is acting as financial advisor to Elutia in the transaction.

Elutia management will provide a company update at the H.C. Wainwright 27th Annual Global Investment Conference on September 10 at 9:30 a.m. Eastern Time.

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