Elutia Signs Definitive Agreement to Sell SimpliDerm® in Transaction Valued at up to $11 Million, Strengthening Balance Sheet Ahead of NXT-41x Launch
Elutia signed a definitive agreement to sell its SimpliDerm business to Cellution Biologics Inc. for total consideration of up to $11 million, consisting of $8 million in cash at closing and up to $3 million in milestone payments. The divestiture strengthens Elutia’s balance sheet with non-dilutive capital intended to advance its lead asset, NXT-41x, toward a targeted commercial launch in 2027.
Key figures
- Deal Value Usd
- 11000000
- Upfront cash
- $8 million
- Target market size
- $1.5 billion
- Contingent milestones
- $3 million
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