09:01 AM EDT, 09/09/2025 (MT Newswires) -- Elutia ( ELUT ) said Tuesday it has entered into a definitive agreement to sell its EluPro and CanGaroo bioenvelopes to Boston Scientific ( BSX ) for $88 million in cash.

The company said its EluPro and CanGaroo bioenvelopes which were part of the transaction are designed to protect patients receiving implantable medical devices.

Elutia ( ELUT ) said the deal is expected to close in Q4.

The company said the transaction enables it to dedicate its resources towards advancing its SimpliDerm franchise and drug-eluting pipeline in the $1.5 billion US breast reconstruction market.

Elutia ( ELUT ) shares were up 24% in recent premarket activity.