Elutia Completes SimpliDerm® Sale on Schedule, Adds $8 Million in Cash to Fund NXT-41x Through Full Commercial Launch (Form 8-K)

Elutia Completes SimpliDerm^® Sale on Schedule, Adds $8 Million in Cash to Fund NXT-41x Through Full Commercial Launch

GAITHERSBURG, Md., August 18, 2026 (GLOBE NEWSWIRE) -- Elutia Inc. (Nasdaq: ELUT) ("Elutia" or the "Company"), a pioneer in drug-eluting biomatrix technologies, today announced it completed the sale of its SimpliDerm® human acellular dermal matrix business to Cellution Biologics Inc. for total consideration of up to $11 million. Total proceeds are comprised of $8 million at closing, subject to customary adjustments for inventory levels and transaction expenses, plus additional contingent milestone payments of up to $3 million over the next 18 months.

The transaction strengthens the Company's balance sheet with non-dilutive capital and positions Elutia to focus strategically on NXT-41x, its proprietary drug-eluting biomatrix. The Company expects FDA clearance of NXT-41x in the first half of 2027. With the closing of this transaction and previously announced funding sources, the Company believes it has secured sufficient funding to support operations through the first full year of the NXT-41x commercial launch in 2028.

"Completing this divestiture reflects the discipline and commitment the Elutia team brings to everything we do," said Dr. Sonali Fonseca, Vice President of Emerging Business, who led the divestiture effort. "It is another important step forward in our mission to Humanize Medicine by providing additional funding while sharpening our focus on bringing NXT-41x to patients so they can thrive without compromise."

NXT-41x is being developed for use in plastic and reconstructive surgery, where complex procedures can carry post-operative infection rates of 15-20%. The product is designed to provide soft-tissue reinforcement while locally delivering antibiotics locally to inhibit bacterial colonization at the surgical site. Elutia plans to first commercialize NXT-41x in the approximately $1.5 billion U.S. plastic and reconstructive surgery market, followed by expansion into general and oncologic surgeries with similar infection risks.

About Elutia

Elutia develops and commercializes drug-eluting biomatrix products to improve compatibility between medical devices and the patients who need them. With a growing population in need of implantable technologies, Elutia's mission is humanizing medicine so patients can thrive without compromise. For more information, visit www.Elutia.com.