Biomatrix technology innovator Elutia Inc.
(NASDAQ:ELUT) on Friday agreed to divest its SimpliDerm human acellular dermal matrix operations.
The buyer, Cellution Biologics Inc., will acquire the asset in a transaction that could be valued at a maximum of $11 million.
This strategic sale allows the medical technology pioneer to refocus its financial and operational efforts toward the development of its upcoming next-generation medical solutions.
Financial Terms And Milestone Payments According to the specific terms of the acquisition agreement, Elutia is set to secure a guaranteed $8 million in upfront cash at the time the transaction formally closes.
