TELA Bio (TELA) to Raise $60 Million in IPO

TELA Bio (TELA) plans to raise $60 million in an initial public offering on Friday, November 8th, IPO Scoop reports. The company plans to issue 4,000,000 shares at a price of $14.00-$16.00 per share.

In the last 12 months, TELA Bio generated $11.2 million in revenue and had a net loss of $27.1 million. TELA Bio has a market-cap of $159.6 million.

Jefferies and Piper Jaffray served as the underwriters for the IPO and Canaccord Genuity and JMP Securities were co-managers.

TELA Bio provided the following description of their company for its IPO: ”  We are a commercial stage medical technology company focused on designing, developing and marketing a new category of tissue reinforcement materials to address unmet needs in soft tissue reconstruction. We offer a portfolio of advanced reinforced tissue matrices that improve clinical outcomes and reduce overall costs of care in hernia repair, abdominal wall reconstruction and plastic and reconstructive surgery. Our products are an innovative solution that integrate multiple layers of minimally-processed biologic material with interwoven polymers in a unique embroidered pattern, which we refer to as a reinforced tissue matrices. These products have been implanted by surgeons in more than 6,500 patients with no reported explantations due to failure of the product. “.

TELA Bio was founded in 2012 and has 86 employees. The company is located at 1 Great Valley Parkway, Suite 24, Malvern, PA 19355, US and can be reached via phone at (484) 320-2930 or on the web at http://www.telabio.com.

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