Elutia amends Ligand royalty deal; min annual payment rises to $4.4M, $5M milestone waived

ELUTIA INC.

Minimum Annual Royalty increased from $2.75M to $4.4M for 2024 and each year thereafter through May 2027.
Quarterly minimum payment raised from ~$0.7M to $1.1M; $3.0M lump-sum paid for 2023 Q1-Q3 (half due Jan 20, 2024, half by Apr 10, 2024).
Ligand waived a $5.0M milestone payment that was due in Q2 2023; royalty rate remains 5% of sales on CanGaroo, ProxiCor, Tyke, VasCure.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

ELUTIA INC. amended Amendment No. 1 to Royalty Agreement with Ligand Pharmaceuticals Incorporated (effective 2024-01-10).

Action: amendment
Counterparty: Ligand Pharmaceuticals Incorporated
Effective: 2024-01-10

Exact text from the filing

On January 10, 2024, Elutia Inc. (the “Company”), through its subsidiary Elutia Med LLC, a Delaware limited liability company (formerly known as Aziyo Med, LLC) (“Elutia Med”), entered into that certain Amendment No. 1 to Royalty Agreement (the “Amendment”), with Ligand Pharmaceuticals Incorporated, a Delaware corporation (“Ligand”).

View on SEC.gov

Browse all material agreements →

ELUTIA INC. filing history →

Source: SEC EDGAR

accession 0001558370-24-000247

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.