Elutia has entered into a definitive agreement to sell its EluPro and CanGaroo bioenvelopes, designed to protect patients receiving implantable medical devices, to Boston Scientific for $88 million in cash.
“EluPro has clearly demonstrated that our proprietary drug-eluting biologics platform works at scale,” said Dr. Randy Mills, CEO of Elutia. “With the successful launch of EluPro, seven national group purchasing organization contracts secured and more than 160 value analysis committee approvals, we have shown that we can develop, manufacture and commercialize these highly regulated breakthrough products, and that they are valued by physicians.
“Now, with a transformed balance sheet, an established commercial engine and a proven team, we are ready to repeat our success with NXT-41x. This novel technology is designed to transform the $1.5 billion breast reconstruction market and help women recovering from breast cancer to thrive without compromise,” added Dr. Mills.
The deal is expected to close in the fourth quarter of 2025, subject to customary closing conditions.
