Aziyo Biologics
Regenerative biomaterials reducing surgical device complications.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
| N/A | €0.0 | round | |
| investor investor | €0.0 | round | |
* | N/A | $13.3m | Post IPO Equity |
| Total Funding | 000k | ||
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Aziyo Biologics, Inc., rebranded as Elutia Inc. in September 2023, is a commercial-stage regenerative medicine company founded in 2015. The company, initially established by C. Randal (Randy) Mills, Ph.D., focuses on developing and commercializing biologic and drug-eluting biomatrix products designed to improve patient outcomes in surgeries involving implantable medical devices. Dr. Mills, who has a background in leading companies like Regeneration Technologies through its IPO and serving as CEO of the National Marrow Donor Program, now leads Elutia as President and CEO.
The firm's business model centers on creating products for the cardiovascular, soft tissue reconstruction, and formerly, the orthopedic and spinal repair markets. Revenue is generated through direct sales and strategic partnerships with major medical device distributors like Medtronic and Boston Scientific to market its products to healthcare institutions. In September 2023, the company divested its orthobiologics business to Berkeley Biologics for up to $35 million to sharpen its focus on drug-eluting biomatrix technology.
Elutia's core offerings include the CanGaroo® Envelope and SimpliDerm®. CanGaroo is a biological envelope made from small intestine submucosa designed to secure and stabilize cardiac implantable electronic devices (CIEDs), such as pacemakers and defibrillators, to reduce complications like migration and erosion. The company is developing an enhanced version, CanGaroo RM, which will elute the antibiotics rifampin and minocycline. SimpliDerm® is a human acellular dermal matrix used for soft tissue repair, primarily in breast reconstruction. The company has faced significant challenges, including product recalls for its FiberCel and ViBone bone graft products in 2021 and 2023 due to contamination, which in some cases led to patient infections and deaths.
Keywords: regenerative medicine, drug-eluting biomatrix, surgical implants, biologic products, cardiovascular devices, soft tissue reconstruction, medical device compatibility, CanGaroo Envelope, SimpliDerm, acellular dermal matrix, implantable device complications, biomaterials, surgical outcomes