DivestmentApr 21, 2026, 08:32 AM
Celularity Closes NexGel Deal, Divests Biomaterials for $13.3M
AI Summary
Celularity Inc. announced the closing of its transaction with NexGel, Inc., divesting its biomaterials product portfolio and licensing certain products. The deal provides Celularity with $13.3 million at closing, comprising $8.3 million in cash and a $5.0 million convertible note, plus potential future milestone payments up to $20.0 million and royalties. This strategic move aims to strengthen Celularity's balance sheet by retiring nearly $13.0 million of debt and allows the company to focus resources on its longevity-focused therapeutic pipeline.
Key Highlights
- Received $13.3 million at closing ($8.3M cash, $5.0M convertible note).
- Eligible for up to $20.0 million in future milestone payments.
- Will receive royalties on net sales of certain development-stage products.
- Retired nearly $13.0 million of debt, strengthening balance sheet.
- Divested biomaterials portfolio to focus on core therapeutic pipeline.