Elutia 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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“With our significantly strengthened financial position, we plan to bring NXT-41x to market in the first half of 2027,” said Dr. Randy Mills, CEO of Elutia. “We are confident we have the people, technology, and resources to reshape the breast reconstruction treatment paradigm and accelerate our path to positive cash flow. I want to thank the entire Elutia CRU for their relentless work to enable patients everywhere to thrive without compromise.”
Meanwhile, Boston Scientific adds new offerings to its portfolio of implantable devices that includes leading defibrillators and pacemakers.
Elutia designed EluPro to prevent post-operative complications in patients with implantable cardiac devices. Those include pacemakers and internal defibrillators. The system received FDA clearance in June 2024 and also has approval for use with additional devices. That extends to neuromodulators and neurostimulators for pain management, epilepsy, incontinence and sleep apnea.
CanGaroo is a porcine small intestine submucosa extracellular matrix that creates a healthy pocket for implanted devices. The bioenvelope stabilizes the implantable devices, such as pacemakers and defibrillators, as well.
