Tela Bio Secures Up To $50 Million In Debt Financing From Midcap Financial
05/31/22, 7:00 AM
Location
malvernMoney raised
$50 million
TELA Bio, Inc. ("TELA") (NASDAQ: TELA), a commercial-stage medical technology company focused on providing innovative soft-tissue reconstruction solutions that optimize clinical outcomes by prioritizing the preservation and restoration of the patient's own anatomy, today announced that the Company has entered into a new credit facility with MidCap Financial (“MidCap”), providing TELA with access to up to $50 million in total credit. A portion of the proceeds from the new credit facility were used to fully repay TELA’s existing $30 million credit facility with OrbiMed Royalty Opportunities II, LP, with the remaining proceeds under the credit facility available for working capital needs and other corporate purposes.
Company Info
Location
malvern, pennsylvania, united states
Additional Info
TELA Bio, Inc. ("TELA") (NASDAQ: TELA), a commercial-stage medical technology company focused on providing innovative soft-tissue reconstruction solutions that optimize clinical outcomes by prioritizing the preservation and restoration of the patient's own anatomy, today announced that the Company has entered into a new credit facility with MidCap Financial (“MidCap”), providing TELA with access to up to $50 million in total credit. “We are excited about our new partnership with MidCap which provides TELA with cost-effective funding and financial flexibility.