Skip to main content

Elutia Celebrates First Year

Written by Customer Service on . Posted in Public Companies.

Company Thanks Stakeholders and Employees for a Year of Remarkable Growth and Accomplishment

SILVER SPRING, Md., Sept. 06, 2024 (GLOBE NEWSWIRE) — Elutia Inc. (Nasdaq: ELUT) (“Elutia”), a pioneer in drug-eluting biomatrix products, is celebrating its one-year anniversary and the team that made it possible. On September 6, 2023, as part of a strategic shift toward drug-eluting biologics, the company rebranded as Elutia Inc. and established the mission of “Humanizing Medicine so Patients can Thrive without Compromise.” The following day, the company began trading on Nasdaq under the new ticker symbol “ELUT.”

In its first year as Elutia, the company achieved several significant milestones and saw impressive organic growth, including:

  • Focused operations on our proprietary drug-eluting biomatrix technology through the divestiture and strategic partnerships of non-core assets.
  • Secured U.S. Food and Drug Administration (FDA) approval for EluPro™, the first Antibiotic-Eluting BioEnvelope.
  • Successfully completed an FDA inspection of our manufacturing facility and commenced production of EluPro for commercial use.
  • Implanted the first-ever EluPro antibiotic-eluting biologic envelope on September 5, 2024.
  • Grew sales of our proprietary products by 20%, strengthened the balance sheet, and increased shareholder value by over 170%.
  • Built a cohesive team of world-class professionals dedicated to our mission every day.

Kevin Rakin, Elutia’s Chairman and Co-founder, and Dr. Randy Mills Elutia’s Chief Executive Officer and Co-founder jointly commented, “It’s been an incredible year of focus and execution. While we know there is much work left to do, we want to extend our deepest thanks to everyone who made this journey possible — our shareholders, partners, physicians and care providers, and most importantly, the Elutia CRU. This remarkable team of professionals show up every day with confidence and relentless determination, all working together toward a shared goal of making a positive difference in the lives of our patients.”

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.

Investors:
Matt Steinberg
FINN Partners
matt.steinberg@finnpartners.com

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.