TELA Bio Announces Sale of Distribution Rights for Wound Care Product to MIMEDX
20 Marzo 2024 - 12:00PM
TELA Bio, Inc. (NASDAQ: TELA), a commercial-stage medical
technology company focused on providing innovative soft-tissue
reconstruction solutions, today announced the sale of its
distribution rights related to NIVIS Fibrillar Collagen Pack to
Atlanta-based MiMedx Group, Inc. (“MIMEDX”). As consideration for
the sale, MIMEDX will make an initial $5.0 million payment and
additional future payments aggregating between a minimum of $3.0
million and a maximum of $7.0 million based on net sales of NIVIS
over the next two years.
NIVIS is an absorbent collagen matrix indicated
for the management of moderately to heavily exudating wounds and to
control minor bleeding. MIMEDX is a pioneer and leader focused on
helping humans heal, with a portfolio of products for applications
in the wound care, burn, and surgical sectors of healthcare.
“We are pleased to announce this transaction
with MIMEDX. We are confident in MIMEDX’s capabilities and in their
ability to drive market share and bring this innovative,
high-quality wound healing product, which was designed to TELA’s
specifications, to more surgeons and patients,” said Antony
Koblish, President and Chief Executive Officer of TELA Bio. “We
look forward to continuing to expand the use of our robust
portfolio of hernia repair and reconstructive surgery products,
including two new LIQUIFIXTM hernia mesh fixation devices and new
product configurations of OviTex® Reinforced Tissue Matrix designed
to enhance utility in inguinal hernia repairs performed robotically
and laparoscopically.”
About TELA Bio, Inc.TELA Bio, Inc. (NASDAQ:
TELA) is a commercial-stage medical technology company focused on
providing innovative technologies that optimize clinical outcomes
by prioritizing the preservation and restoration of the patient's
own anatomy. The Company is committed to providing surgeons with
advanced, economically effective soft-tissue reconstruction
solutions that leverage the patient's natural healing response
while minimizing long-term exposure to permanent synthetic
materials. For more information, visit www.telabio.com.
Caution Regarding Forward-Looking
StatementsThis press release contains forward-looking
statements within the meaning of The Private Securities Litigation
Reform Act of 1995. Words such as "may," "might," "will," "should,"
"believe," "expect," "anticipate," "estimate," "continue,"
"predict," "forecast," "project," "plan," "intend" or similar
expressions, or statements regarding intent, belief, or current
expectations are forward-looking statements and reflect the current
beliefs of TELA's management, including with respect to the sale of
NIVIS and the total consideration relating to such sale. These
statements are not guarantees of future performance and are subject
to certain risks, uncertainties and other factors that could cause
actual results and events to differ materially and adversely from
those indicated by such forward-looking statements. These and other
risks and uncertainties are described more fully in the "Risk
Factors" section and elsewhere in our filings with the Securities
and Exchange Commission and available at www.sec.gov, including in
our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.
Any forward-looking statements that we make in this announcement
speak only as of the date of this press release, and TELA assumes
no obligation to update forward-looking statements whether as a
result of new information, future events or otherwise after the
date of this press release, except as required under applicable
law.
Investor ContactGreg
Chodaczek347-620-7010ir@telabio.com
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