Elutia (Nasdaq:ELUT) announced today that it closed the $88 million sale of its bioenvolope technologies to Boston Scientific.
Last month, the Gaithersburg, Maryland-based company announced an agreement to sell its EluPro and CanGaroo drug-eluting bioenvelopes to Boston Scientific in an all-cash deal. It designed these technologies to protect patients receiving implantable medical devices.
With the closing of the deal, Elutia says it can leverage its proven drug-eluting biologics platform with a more concentrated focus on advancing its NXT-41x offering. NXT-41x is a next-gen antibiotic biomatrix for breast reconstruction. It directly addresses the root causes of reconstruction infections following mastectomy. The biomatrix combines handling, biologics and an extended antibiotic release to provide protection while supporting tissue regeneration.
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