Elutia (Nasdaq:ELUT) announced today that it agreed to sell its bioenvelope technologies to Boston Scientific for $88 million.
Our sister site, Drug Delivery Business News, reports today that Gaithersburg, Maryland-based Elutia agreed to sell its EluPro and CanGaroo drug-eluting bioenvelopes in the cash deal. It designed these technologies to protect patients receiving implantable medical devices.
Boston Scientific develops a number of implantable devices, including leading defibrillators and pacemakers.
Elutia says the deal underscores the value of its proprietary drug-eluting biologic technology platform. It also allows the company to complete the development and commercialization of its near-term pipeline without the need for shareholder dilution.
Get the full story at our sister site, Drug Delivery Business News.
