Elutia Inc. (Nasdaq: ELUT) (“Elutia”), a company pioneering drug-eluting biomatrix products, announces it completed the divestiture of its Orthobiologics business unit to Berkeley Biologics LLC, a wholly owned subsidiary of GNI Group Ltd. “With the closing of this transaction, Elutia is now fully focused on our high-growth biomatrix product platforms, including our near-term blockbuster opportunity with CanGaroo®RM,” said Dr. Randy Mills, President and Chief Executive Officer of Elutia. “The proceeds from this transaction, coupled with the September financing, should have us well-capitalized to advance our proprietary drug-eluting biomatrix platform.”
Read the full article: Elutia Completes Divestiture of Orthobiologics Business Unit for Cash Proceeds of up to $35M //
Source: https://www.globenewswire.com/news-release/2023/11/09/2777365/0/en/Elutia-Completes-Divestiture-of-Orthobiologics-Business-Unit-for-Cash-Proceeds-of-Up-to-35-Million.html