TELA Bio Secures Up to $50 Million in Debt Financing from



MALVERN, Pa., May 31, 2022 (GLOBE NEWSWIRE) — TELA Bio, Inc. (“TELA”) (NASDAQ: TELA), a commercial-stage medical technology company focused on providing innovative tissue reconstruction solutions soft tissues that optimize clinical outcomes by prioritizing the preservation and restoration of patient anatomy, today announced that the company has entered into a new credit facility with MidCap Financial (“MidCap”), enabling TELA to access a total credit of up to $50 million. A portion of the proceeds from the new credit facility was used to fully repay TELA’s existing $30 million credit facility with OrbiMed Royalty Opportunities II, LP, with the remaining proceeds from the credit facility available for working capital and for other corporate purposes.

“We are excited about our new partnership with MidCap which provides TELA with cost effective financing and financial flexibility. This transaction reflects TELA’s strong financial position and outlook, which has allowed us to access the debt capital markets for non-dilutive financing,” said Antony Koblish, President and CEO of TELA Bio. “The proceeds of this loan will allow TELA to fund its current key business objectives and drive its future growth initiatives, with minimal, if any, additional capital to be raised.”

The MidCap Credit Facility consists of an initial tranche of $40 million received on closing and an additional tranche of $10 million drawable at TELA’s option subject to the satisfaction of certain conditions, including , but not limited to, the achievement of net revenue thresholds by the end of fiscal year 2023. fiscal year. The facility matures on May 1, 2027 and bears interest at a rate equal to 6.25%, whichever is greater of the one-month forward SOFR or 1.0%. The facility provides for at least 36 months of interest-only payments, which can be extended to 48 months if certain conditions are met.

Additional details regarding the foregoing financing are set forth in TELA’s current report on Form 8-K, filed today with the United States Securities and Exchange Commission.

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 patient anatomy. . The company is committed to providing surgeons with advanced, cost-effective soft tissue reconstruction solutions that take advantage of the patient’s natural healing response while minimizing long-term exposure to permanent synthetic materials. For more information, visit

About MidCap Financial

MidCap Financial is a middle-market focused specialty finance company providing senior debt solutions to companies across all industries. As of December 2021, MidCap Financial provides administrative and other services for over $39.6 billion in commitments. MidCap Financial is managed by Apollo Capital Management, LP, a subsidiary of Apollo Global Management, Inc, pursuant to an investment management agreement. Apollo had approximately $497.6 billion in assets under management as of December 31, 2021 across credit, private equity and real assets funds. For more information about MidCap Financial, please visit For more information about Apollo, please visit

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”, “could”, “will”, “should”, “believe”, “expect” , “anticipate”, “estimate”, “continue”, “predict”, “expect”, “project”, “plan”, “intend” or similar expressions, or statements concerning the intention, belief or current expectations are forward-looking statements and reflect the current beliefs of TELA’s management, including, with respect to TELA’s expectations regarding the financial flexibility provided by the New Credit Facility, the impact of the Credit Facility on TELA’s financial condition, TELA’s ability to achieve profitability, the use of proceeds from the credit facility, TELA’s ability to borrow additional amounts under the new credit facility, and its expectations regarding future growth and of his business. 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 these forward-looking statements. These risks and uncertainties are described in more detail in the “Risk Factors” section and elsewhere in our filings with the Securities and Exchange Commission and available at, including our Annual Report on Form 10-K and our quarterly reports on Form 10-Q. Any forward-looking statements we make in this announcement speak only as of the date of this press release, and TELA undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise after the date of this release. press release, except as required by applicable law.

Contact Investor
Greg Chodaczek
[email protected]

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