Elutia Announces Sale Of Orthobiologics Business Unit For Cash Proceeds Of Up To $35M; Transaction Expected To Close In Q4
Portfolio Pulse from Benzinga Newsdesk
Elutia has announced the sale of its Orthobiologics business unit for cash proceeds of up to $35M. The transaction, which is expected to close in Q4, reflects the company's increasing strategic focus on its proprietary Drug-Eluting Biomatrix platform.
September 18, 2023 | 8:10 pm
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Elutia's sale of its Orthobiologics unit for up to $35M could provide the company with additional capital to invest in its Drug-Eluting Biomatrix platform. The deal is expected to close in Q4.
The sale of the Orthobiologics unit could provide Elutia with additional capital, which could be used to further develop and invest in its proprietary Drug-Eluting Biomatrix platform. This strategic move could potentially enhance the company's future growth prospects, which could positively impact its stock price in the short term.
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