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Washington, D.C. 20549





Pursuant to Section 13 or 15(d)

of The Securities Exchange Act of 1934


Date of Report (Date of earliest event reported): March 15, 2024


TELA Bio, Inc.

(Exact name of registrant as specified in its charter)


Delaware   001-39130   45-5320061

(State or other jurisdiction of




File Number)


(I.R.S. Employer

Identification No.)


1 Great Valley Parkway, Suite 24

Malvern, Pennsylvania


(Address of principal executive offices)   (Zip Code)


Registrant’s telephone number, including area code: (484) 320-2930


Not Applicable

(Former name or former address, if changed since last report.)


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:


¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


Securities registered pursuant to Section 12(b) of the Act:


Title of each class   Trading Symbol(s)   Name of each exchange on which registered
Common Stock, par value $0.001 per share   TELA   Nasdaq Global Market


Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).


Emerging growth company x


If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨







Item 8.01 Other Events.


On March 15, 2024, TELA Bio, Inc. (the “Company”) completed the sale of its distribution rights to its NIVIS® Fibrillar Collagen Pack (“NIVIS”) to MiMedx Group, Inc. (“MiMedx”) in exchange for 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.


On March 20, 2024, the Company issued a press release announcing the sale of its distribution rights to NIVIS to MiMedx. A copy of this press release is filed as Exhibit 99.1 hereto and incorporated herein by reference.


Item 9.01 Financial Statements and Exhibits.


(d) Exhibits


The following exhibits are being furnished herewith:


Exhibit No.   Document
99.1   Press Release of TELA Bio, Inc., dated March 20, 2024.
104   Cover Page Interactive Data File (embedded within the Inline XBRL document).







Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


  By: /s/ Antony Koblish
  Name: Antony Koblish
  Title: President, Chief Executive Officer and Director


Date: March 20, 2024






Exhibit 99.1



TELA Bio Announces Sale of Distribution Rights for Wound Care Product to MIMEDX


TELA Bio to receive at least $8 million and up to $12 million in total consideration.


MALVERN, Pa., March 20, 2024 (GLOBE NEWSWIRE) -- 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 Statements
This 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 Contact
Greg Chodaczek