TELA Bio Raises Up to $25M

TELA Bio announced that Pacira Pharmaceuticals, Inc. will invest up to $25 million in the company, with $15 million provided up front and up to an additional $10 million upon fulfillment of certain milestones. TELA Bio, which is led by former Orthovita CEO Antony Koblish, has developed the OviTex line of soft tissue scaffolds, which are manufactured in a range of sizes and thicknesses as well as in permanent and resorbable formulations. This enables multiple configurations to address a variety of hernia repair and abdominal wall reconstruction needs. Notably, the company says the scaffolds feature a unique design that combines “biologic and synthetic materials in a unique embroidered construction that allows free movement of fluid and cells through the construct.”

The company will use funds from the Pacira financing to expand clinical and commercial efforts for their existing products and indications as well as  develop new OviTex products for additional soft tissue procedures, including breast reconstruction.