Elutia Inc. completed the sale of its SimpliDerm human acellular dermis business to Cellution Biologics Inc. on August 17, 2026. The transaction provides approximately $7.7 million in net cash proceeds at closing, with up to an additional $3 million in contingent milestone payments over the next eighteen months based on technology transfer and commercial targets. Elutia classified the divestiture as a discontinued operation under ASC 205-20, removing the Women’s Health segment from future financial reporting. The company amended its Loan and Security Agreement with Avenue Venture Opportunities Fund II to release liens on the sold assets. This strategic move concentrates resources on NXT-41x, an antibiotic-eluting biomatrix for plastic surgery, which Elutia expects FDA clearance for in early 2027. Elutia Inc. develops and commercializes drug-eluting biomatrix products to improve compatibility between medical devices and patients.

Elutia Inc. reported second quarter 2026 net sales of $2.4 million and a net loss of $7.6 million, while securing up to $26 million in capital to fund its NXT-41x product through commercial launch without an equity offering. The financing includes a $15 million credit facility with $10 million funded at closing and an additional $11 million from the SimpliDerm business divestiture. Elutia develops and commercializes drug-eluting biomatrix products to improve compatibility between medical devices and patients.

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.

On June 11, 2026, stockholders approved the First Amendment to the Company's Amended and Restated 2020 Incentive Award Plan. This amendment increases the number of authorized shares for issuance under the plan by 3,000,000 shares of Class A common stock, extends the annual share increase through January 1, 2036, and extends the plan's termination date to the tenth anniversary of the amendment date. Other meeting results included the election of David Colpman and Kevin Rakin as Class III directors, the ratification of PricewaterhouseCoopers LLP as independent auditor, and the adoption of an annual frequency for advisory say-on-pay votes. Elutia Inc. operates in the healthcare industry, providing specialized medical products and services.