by
Gus Iversen, Editor in Chief | September 16, 2025
Elutia has entered into an agreement to sell its BioEnvelope product lines, EluPro and CanGaroo, to Boston Scientific for $88 million in cash.
The Gaithersburg, Maryland-based company said the transaction will allow it to focus entirely on its drug-eluting biologic platform, particularly the development and commercialization of NXT-41, a product in its pipeline targeting breast reconstruction procedures.
EluPro and CanGaroo are bioenvelopes used to support implantable medical devices such as pacemakers and defibrillators. According to Elutia, the platform has gained traction across multiple purchasing groups and hospital committees, laying the groundwork for broader adoption of future products.
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“EluPro has clearly demonstrated that our proprietary drug-eluting biologics platform works at scale,” said Elutia CEO Dr. Randy Mills. “Now, with a transformed balance sheet, an established commercial engine and a proven team, we are ready to repeat our success with NXT-41x.”
Elutia noted that proceeds from the sale will be used to eliminate outstanding debt, address litigation linked to a previously divested orthobiologics unit, and fund the full development of NXT-41 and NXT-41x without raising additional capital.
BofA Securities served as financial advisor to Elutia for the transaction.
Company leadership is expected to share further details during a presentation at the H.C. Wainwright 27th Annual Global Investment Conference, scheduled for September 10 at 9:30 a.m. ET. A webcast of the event will be available on Elutia’s investor relations website.
The deal is expected to close in the fourth quarter of 2025, pending customary regulatory approvals.
