Elutia
Elutia is a publicly traded medical device company (Nasdaq: ELUT) that develops drug-eluting biomatrix products combining biologic matrices with extended antibiotic release, serving plastic surgeons, cardiovascular surgeons, and vascular surgeons at U.S. hospitals and surgical centers.
- Company typePublic
- Founded2015
- HeadquartersSilver Spring, United States
- Headcount51–100
- GTM typeB2B
- OfferingHardware or Manufacturing
What Elutia does
Elutia is a publicly traded medical device company (Nasdaq: ELUT) developing proprietary drug-eluting biomatrix products that combine biologic matrices with extended antibiotic release for use in soft tissue reconstruction and cardiovascular surgery. The company's core technology platform fuses human acellular dermal matrix (hADM) and porcine small intestine submucosa (SIS) extracellular matrix with antibiotics such as rifampin and minocycline, using a patented gentle processing method that achieves sterility assurance of 10^-6 while preserving native growth factors. Elutia commercializes a portfolio including SimpliDerm (hADM allograft for soft tissue reconstruction), ProxiCor PC and ProxiCor CTR (cardiac tissue repair and pericardial closure), and VasCure VR and VasCure CR (vascular and carotid repair), while advancing NXT-41x, a next-generation antibiotic-eluting biomatrix targeting the $1.5 billion U.S. breast reconstruction market with FDA clearance anticipated in H1 2027.
Elutia generates revenue through one-time sales of biologic matrix products to healthcare providers including hospitals, surgical centers, and physician practices. The go-to-market combines a direct sales force targeting plastic surgeons, cardiovascular surgeons, and vascular surgeons with a distributor channel that accounts for approximately 33% of EluPro sales, supplemented by seven national GPO contracts and more than 160 hospital value analysis committee (VAC) approvals. Following the November 2023 divestiture of Orthobiologics to Berkeley Biologics (up to $35M) and the October 2025 sale of the BioEnvelope business (EluPro and CanGaroo) to Boston Scientific for $88M, the company has narrowed its focus to higher-growth drug-eluting biomatrix applications, using divestiture proceeds to eliminate debt and fund NXT-41x development. The company is headquartered in Gaithersburg, Maryland, employs 51-100 people, and trades at approximately $47M market capitalization as of March 2026.
Elutia firmographics
Firmographics- Name
- Elutia
- Legal name
- Elutia Inc.
- Website
- https://elutia.com
- Company type
- Public
- Founded year
- 2015
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Elutia is a publicly traded medical device company (Nasdaq: ELUT) that develops drug-eluting biomatrix products combining biologic matrices with extended antibiotic release, serving plastic surgeons, cardiovascular surgeons, and vascular surgeons at U.S. hospitals and surgical centers.
- Ownership category
- akta.pro rank
Elutia industry classification
Industry- Product category
- Biologic Surgical Implants
- NAICS
- Medical Equipment and Supplies Manufacturing (3391), Surgical Appliance and Supplies Manufacturing (339113)
- SIC
- Surgical & Medical Instruments & Apparatus (3841)
- akta.pro primary industry
- Acellular/Decellularized Matrices & ECM Products (HLAAAGAF)
- akta.pro secondary industries
- Wound Healing & Skin Regeneration (advanced dressings, skin substitutes) (HLAAAGAG), Skin Substitutes & Biologic/Regenerative Wound Therapies (Matrices, Grafts) (HLAHALAE)
Keywords
Where Elutia is headquartered
LocationHeadquarters
- HQ city
- Silver Spring
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Elutia business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Personnel, Operations, Technology or R&D, Marketing or Sales
Revenue model
- Biologic Product Sales: Elutia generates revenue from the sale of biologic matrix products to healthcare providers including hospitals, surgical centers, and physicians. Products include SimpliDerm (soft tissue repair), ProxiCor (cardiac tissue repair), and VasCure (vascular repair). Revenue is recognized upon product delivery to customers.
- Registered Direct Offering (Equity): Elutia raised approximately $13.26 million through a registered direct offering of shares and prefunded warrants, intended for working capital and general corporate purposes.
- Private Placement Financing: Elutia raised approximately $10.5 million in private placement financing with potential additional proceeds of $15.8 million if warrants are exercised, totaling $26.2 million.
- Business Divestiture Proceeds: Elutia received $88 million from the sale of its BioEnvelope business to Boston Scientific Corporation. Prior divestiture of Orthobiologics business to Berkeley Biologics for up to $35 million.
Go-to-market motion2 records
Distribution channels5 records
Marketing channels6 records
Elutia product offering
Product offeringCore offering
Elutia develops and commercializes proprietary drug-eluting biomatrix products that combine human acellular dermal matrix (hADM) and porcine small intestine submucosa (SIS) extracellular matrix with extended antibiotic release for medical device implantation and soft tissue reconstruction. Its commercial portfolio includes SimpliDerm (soft tissue reconstruction allograft), ProxiCor PC and ProxiCor CTR (cardiac tissue repair ECM biomatrices), and VasCure VR and VasCure CR (vascular repair SIS ECM products), sold to hospitals, surgical centers, and surgeons in the United States.
Product overview
Elutia is a drug-eluting biomatrix technology company that develops and commercializes products to improve compatibility between medical devices and patients. The company's portfolio consists of proprietary drug-eluting biologic products built on engineered extracellular matrix (ECM) biology. Current commercial products include SimpliDerm (soft tissue reconstruction), ProxiCor PC (pericardial closure), ProxiCor CTR (cardiac tissue repair), VasCure VR (vascular repair), and VasCure CR (carotid repair). The company is advancing its NXT-41x antibiotic-eluting biomatrix for the breast reconstruction market, with the base matrix submitted for FDA clearance in 2026 and the drug-eluting version targeted for 2027. Elutia's technology platform combines biologics with extended antibiotic release, optimized for device implantation and soft tissue reconstruction. Former products including EluPro and CanGaroo bioenvelopes were sold to Boston Scientific in October 2025.
Differentiator
Problem solved
Functional benefit
Brands
- NXT-41: Base biologic matrix product for breast reconstruction, submitted to FDA for 510(k) clearance.
- NXT-41X
- SimpliDerm
- ProxiCor PC
- ProxiCor CTR
- VasCure VR
Products and services
- SimpliDerm High-performance allograft (human acellular dermal matrix, hADM) designed for soft tissue reconstruction, providing rapid integration with low inflammatory response and natural remodeling. Used in breast reconstruction following mastectomy, hernia repair, abdominal wall reconstruction, and other soft tissue reinforcement procedures. Q3 2025 revenue of $2.4 million. Processed using a proprietary patented gentle process achieving sterility assurance level (SAL) of 10-6 while preserving key growth factors.
- ProxiCor PC Extracellular matrix (ECM) biomatrix designed for pericardial closure following cardiac surgery, reducing post-operative adhesions and protecting the heart from mechanical injury during potential reoperations.
- ProxiCor CTR Biologic scaffold for intracardiac repair, providing immediate structural support while promoting healthy tissue remodeling and regeneration. Used by cardiac surgeons for intracardiac tissue repair procedures.
- VasCure VR Extracellular matrix derived from porcine small intestine submucosa (SIS) for vascular repair, used in femoral endarterectomies and arteriovenous (AV) fistula repairs. Regulates the biologic healing response to decrease inflammation and stimulate formation of healthy tissue, with antimicrobial activity during remodeling and resistance to calcification.
- VasCure CR SIS ECM product for carotid repair and vascular reconstruction, designed to decrease inflammation and stimulate healthy tissue formation. Demonstrated lower post-procedure complication rates for carotid repair including pseudoaneurysm, thrombus, and restenosis compared to alternative patch materials.
Quantifiable outcome
- 43% lower overall procedural difficulty in CIED reoperations for patients previously implanted with biologic envelopes versus control group
- +10 more outcomes
Companies that use Elutia
Customer profileNamed customers1 record
Segments3 records
Ideal customer profiles2 records
Elutia technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
Elutia partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core and minor.
- VizientcoreVizient, the nation's largest provider-driven healthcare performance improvement company, selected Elutia to exhibit EluPro at the Vizient Innovative Technology Exchange. This provides access to Vizient's hospital client network and supply chain leaders for product evaluation and GPO contracting.
- Group Purchasing Organizations (GPOs)coreElutia has secured seven national GPO contracts providing contracted pricing and hospital access for its products including EluPro. GPO contracts are a standard mechanism for hospital purchasing in the medical device sector.
- Wall Street ZenminorWall Street Zen analysts provided equity research coverage, upgrading Elutia from sell to hold rating. Analyst ratings represent third-party market research assessment of company stock.
Scale indicators13 records
Recent moves8 records
Expansion highlights6 records
Elutia competitors and assessment
Company assessmentDirect peers
- Integra LifeSciences: Integra LifeSciences is a direct peer with overlapping regenerative tissue technologies including DermaMatrix (acellular dermal matrix) for soft tissue reconstruction and a portfolio of wound care and surgical biologics. The company competes with Elutia's SimpliDerm and NXT-41x products in the soft tissue repair and breast reconstruction markets.
- MiMedx: MiMedx develops and commercializes placental tissue allografts (EpiFix, AmnioFix) and is a direct competitor in the regenerative medicine and skin substitute markets. Both companies target surgeons and hospitals for soft tissue repair, wound healing, and surgical reconstruction applications.
- Organogenesis: Organogenesis is a leading regenerative medicine company offering Apligraf, Dermagraft, and PuraPly for wound care and surgical applications. It competes directly with Elutia's ECM-based products in the soft tissue repair and wound healing markets, and shares a similar hospital GPO-driven commercial model.
- Vericel: Vericel develops and commercializes advanced cell therapies and regenerative medicine products (MACI, Epicel) for cartilage repair and burn treatment. It is comparable to Elutia as a small-cap public regenerative medicine company with FDA-approved biologic products targeting surgical specialists.
- Artivion: Artivion (formerly CryoLife) specializes in cardiac and vascular tissue preservation and bioprosthetic devices. It competes with Elutia's ProxiCor and VasCure product lines in cardiac tissue repair and vascular reconstruction, and shares the small-cap medical device profile with similar hospital sales models.
- MTF Biologics: MTF Biologics is a non-profit tissue bank that develops and distributes allograft tissues including dermal matrices for soft tissue reconstruction, directly competing with SimpliDerm. Both companies supply biologic matrices through similar hospital distribution channels and GPO contracts.
- AlloSource: AlloSource is a non-profit tissue bank providing allografts including AlloDerm and other dermal matrices for surgical reconstruction. As one of the largest suppliers of skin substitutes and soft tissue allografts, it represents a significant competitor to Elutia's soft tissue repair business.
- LifeNet Health: LifeNet Health is a non-profit organ and tissue donation organization that produces allograft and xenograft biologic matrices for surgical applications. It competes with Elutia in soft tissue reconstruction and wound healing markets with similar dermal matrix and ECM product offerings.
Emerging players
- CorMatrix: CorMatrix develops acellular extracellular matrix (ECM) products derived from porcine small intestinal submucosa for cardiac tissue repair, overlapping with Elutia's ProxiCor and VasCure platforms. Both companies target cardiovascular surgeons with biologic matrix alternatives to synthetic materials.
Broad incumbents
- Boston Scientific: Boston Scientific acquired Elutia's BioEnvelope business (EluPro and CanGaroo) for $88M in October 2025 and is now the strategic owner of Elutia's former lead commercial product. BSC is a broad incumbent in cardiac rhythm management (CIEDs) where EluPro is used, and represents a major potential acquirer or commercial partner for Elutia's remaining technology platform.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Elutia social profiles
Digital presenceElutia financial estimates
Financial estimateRevenue estimate
Valuation estimate
Elutia leadership team
Management profileNumber of profiles
Profiles11 records
Elutia funding detail
Funding detailFunding overview
Funding rounds10 records
Investors5 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Elutia M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Elutia
What does Elutia do?
Elutia develops and commercializes proprietary drug-eluting biomatrix products that combine human acellular dermal matrix (hADM) and porcine small intestine submucosa (SIS) extracellular matrix with extended antibiotic release for medical device implantation and soft tissue reconstruction. Its commercial portfolio includes SimpliDerm (soft tissue reconstruction allograft), ProxiCor PC and ProxiCor CTR (cardiac tissue repair ECM biomatrices), and VasCure VR and VasCure CR (vascular repair SIS ECM products), sold to hospitals, surgical centers, and surgeons in the United States.
Is Elutia a public or private company?
Elutia is a public company. It is classified as public and is currently operating.
When was Elutia founded?
Elutia was founded in 2015. It employs 51 to 100 people.
Where is Elutia based?
Elutia is headquartered in Silver Spring, United States, in the North America region.
How does Elutia make money?
Four revenue lines are on record. Biologic Product Sales are the primary driver. The others are registered Direct Offering (Equity), private Placement Financing and business Divestiture Proceeds.
Who are Elutia's main competitors?
Direct peers on record are Integra LifeSciences, MiMedx, Organogenesis, Vericel, Artivion, MTF Biologics, AlloSource and LifeNet Health. CorMatrix is listed as an emerging player. Boston Scientific is listed as a broad incumbent.
Does Elutia have an API?
No public API is recorded for Elutia.
What industry is Elutia in?
Elutia's product category is Biologic Surgical Implants. Its primary akta.pro industry code is HLAAAGAF, Acellular/Decellularized Matrices & ECM Products, with a secondary code of HLAAAGAG, Wound Healing & Skin Regeneration (advanced dressings, skin substitutes). Its NAICS code is 3391 and its SIC code is 3841.