WASHINGTON (dpa-AFX) - Elutia Inc. (ELUT) has entered into a definitive agreement to sell its EluPro and CanGaroo bioenvelopes, designed to protect patients receiving implantable medical devices, to Boston Scientific Corporation (BSX) for $88 million. Elutia develops and commercializes drug-eluting biomatrix products to improve compatibility between medical devices and the patients who need them.
'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,' said Randy Mills, CEO of Elutia.
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