---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-101780"
form_type: "8-K"
ticker: "ELUT"
cik: "0001708527"
company_name: "ELUTIA INC."
filed_at: "2023-09-19T23:59:59+00:00"
generated_at: "2026-06-10T13:35:35.347218+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Elutia sells Orthobiologics unit to Berkeley Biologics for up to $35M

## Summary
- Upfront cash $15M at close; earn-out payments up to $20M over 5 years (10% of annual revenue from Earn-Out Products, capped at $20M).
- Transaction expected to close in Q4 2023; subject to customary conditions including regulatory approvals and material consents.
- Elutia to focus on drug-eluting biomatrix platform; lead product CanGaroo RM targets FDA clearance and launch in H1 2024.
- Berkeley Biologics is a wholly-owned subsidiary of GNI Group Ltd. (Tokyo: 2160.T).
- Elutia will enter a Manufacturing Agreement for SimpliDerm product for two years following closing.

## SEC filing metadata
- accession: 0001104659-23-101780
- form_type: 8-K
- ticker: ELUT
- cik: 0001708527
- company_name: ELUTIA INC.
- filed_at: 2023-09-19T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1708527/000110465923101780/0001104659-23-101780-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1708527/000110465923101780/tm2326344d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-101780
- JSON: https://secwatch.observer/filing/0001104659-23-101780.json
- Plain text: https://secwatch.observer/filing/0001104659-23-101780.txt

## Key facts
- Material Agreements
  ELUTIA INC. entered into Asset Purchase Agreement with Berkeley Biologics, LLC valued at up to $35 million in cash, with $15 million due at Closing and up to $20 million after the Closing p (effective 2023-09-17).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: Berkeley Biologics, LLC
  - Value: up to $35 million in cash, with $15 million due at Closing and up to $20 million after the Closing p
  - Effective: 2023-09-17
  source text: On September 17, 2023, Elutia Inc. (the “Company” or “Elutia”) executed an Asset Purchase Agreement (the “Purchase Agreement”) with Berkeley Biologics, LLC (“Berkeley”), a Delaware limited liability company and wholly-owned subsidiary of GNI Group, Ltd.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1708527/000110465923101780/0001104659-23-101780-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.