TELA Bio readies IPO

Oct. 16, 2019 10:55 AM ETTELA Bio, Inc. (TELA)TELABy: Douglas W. House, SA News Editor

TELA Bio (TELA) has filed a preliminary prospectus for a $69M IPO.
The Malvern, PA-based med tech firm develops tissue reinforcement materials, branded as OviTex, used in soft tissue reconstruction, including hernia repair, abdominal wall reconstruction and plastic/reconstruction surgery. They are currently cleared for sale in the U.S. and have been sold here since July 2016.
2019 Financials (6 mo.): Revenue: $6.6M (+83%); Operating Expenses: $13.2M (+28%); Net Loss: ($16.0M) (+15%); Cash Flow Ops: ($13.0M) (-20%).