Mergers & Acquisitions ·
Elutia sells SimpliDerm business to Cellution Biologics for up to $11 million
ELUTElutia Inc.
Elutia Inc. entered into an Asset Purchase Agreement with Cellution Biologics Inc. to sell its SimpliDerm human acellular dermal matrix business for up to $11 million. The transaction includes $8 million in cash at closing and up to $3 million in contingent technology transfer and commercial milestone payments. The divestiture is intended to focus the company's resources on its NXT-41x antibiotic-eluting biomatrix. Elutia Inc. develops and commercializes drug-eluting biomatrix products for medical device compatibility.