Elutia receives $8 million escrow from Boston Scientific sale

GAITHERSBURG, Md. - Elutia Inc. has received the full $8 million held in escrow from its recent sale to Boston Scientific Corporation, according to a press release. The transaction, valued at $88 million, included a one-year indemnity holdback period that concluded on October 1, 2025. Boston Scientific released the funds without any claims.

This marks the third funding milestone Elutia outlined in its second quarter earnings release. Earlier this year, the company closed an Avenue Capital loan facility and divested its SimpliDerm business. Elutia believes it has enough funding to support it through the first year of its NXT-41x commercial launch and into 2029, without needing to issue new equity.

CEO Dr. Randy Mills stated that the company has fulfilled its promise to fund Elutia through the NXT-41x launch. The regulatory process for the NXT-41x, an antibiotic-eluting surgical matrix being developed for plastic and reconstructive surgery, remains on track, with FDA clearance expected in the first half of 2027. The product aims to provide soft-tissue reinforcement while delivering antibiotics locally to prevent bacterial colonization at surgical sites.

In a survey of 50 board-certified plastic and reconstructive surgeons, 86% believed current matrices increase infection risk, while 96% expressed interest in using NXT-41x in their practice.