Elute, Inc.

Controlled and extended drug release platform.

  • Stage Full Product Ready
  • Industry Medical Devices and Equipment
  • Location Salt Lake City, UT, USA
  • Currency USD
  • Founded November 2011
  • Employees 7
  • Incorporation Type C-corp
  • Website elutinc.com

Company Summary

Elute, Inc. (“Elute” or the “Company”), a Delaware Corporation, is a clinical stage company and emerging leader in the development of patented drug eluting devices designed for controlled and sustained release of drugs. Elute’s lead product is EP Granules with Tobramycin, a bone void filler that has been shown to provide clinically relevant 8-week delivery of antibiotics and grow new bone in voids that result from bone infections, especially surrounding total hip and knee replacement joints or, periprosthetic joint infections (PJIs). On May 28, 2021, the Company was granted a IDE approval by the FDA for its lead product to conduct a 132 patient clinical study. We believe this is the first of deNovo regulatory pathway to be authorized for a combination device + drug product in the US. Upon final approval, we believe that EP Granules with Tobramycin will be a new standard of care in the surgical treatment of bone infections.

Team

  • David W. Grainger, PhD
    Chief Scientific Officer & Board of Directors

    Chair Bioengineering Dept. University of Utah. Scientific Advisor AO Foundation & Synthes.

  • Dennis B. Farrar
    Chairman, Board of Directors

    Founding partner fo UpStart Ventures in Salt Lake City, Utah. Cofounder fo 13 life sciences companies, including Myriad Genetics (MYGN) and SerePrognostics (www.seraprognostics.com). He also cofounded Utah Ventures, Utah's first institutionally-financed venture fund. Mr. Farrar is a graduate of Stanford University and Stanford Law School and has practiced law with large firms in New York, San Francisco and Salt Lake City.

  • Cheryl R. Blanchard, PhD
    Board of Directors

    20+ years of experience with orthopedic device companies.
    Former Chief Science Officer and Sr. Vice President of Zimmer Holdings (world's largest orthopedic company). Currently, CEO of BioCHIPS.

  • Ashok C Khandkar
    CEO

    Ashok Khandkar joined the Company’s Board of Directors in December 2011 and serves as the CEO. He was the founding CEO of Amedica (Nasdaq, AMDA), an orthopedic company, from '00 - '09. In 2010, he founded Bloxr, (sold in Sept. 2014). He consults with a startup focused on a novel laparoscopy platform. He has over 27 years of experience in founding and leading companies. He earned his Ph.D. in Materials Science from Arizona State University.

  • Jon Serbousek
    Board of Directors

    Jon joined the Company’s Board in August 2016. He held several senior management positions at Biomet, Inc. (now Zimmer Biomet) including SVP of Biomet, President of U.S. Orthopedics, Worldwide Group President of Orthopedics, and Worldwide President of Biomet Biologics. At Biomet, he oversaw products for the orthopedic, orthopedic reconstructive, biologic, trauma, and extremities with P&L responsibility for billion dollar enterprises.

Advisors

  • Bruce Sunstein, Esq., Sunstein Kann Murphy & Timbers, Boston
    Lawyer
    Unconfirmed
    Philip Lavin PhD
    Biostatistician
    Don Urbanowicz
    Consultant
    Unconfirmed

Previous Investors

  • UpStart Ventures
    Unconfirmed
    JIS Ventures
    Unconfirmed
    University of Utah Research Foundation
    Unconfirmed

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