05:58 PM EDT, 07/16/2026 (MT Newswires) -- Elutia ( ELUT ) said Thursday it entered into a definitive agreement to sell its SimpliDerm human acellular dermal matrix business to Cellution Biologics for total consideration of up to $11 million.

The company will receive $8 million in cash at closing and up to $3 million in technology transfer and commercial milestone payments over the next 18 months.

The transaction is expected to close in H2, according to the company.

The divestiture completes Elutia's ( ELUT ) previously announced strategic review of SimpliDerm and allows the company to focus its resources on NXT-41x, its antibiotic-eluting biomatrix for plastic and reconstructive surgery.