TELA Bio Announces Sale Of Distribution Rights Related To NIVIS Fibrillar Collagen Pack

(RTTNews) - TELA Bio, Inc. (TELA) announced the sale of its distribution rights related to NIVIS Fibrillar Collagen Pack to MiMedx Group, Inc. MIMEDX will make an initial $5.0 million payment and additional future payments aggregating between a minimum of $3.0 million and a maximum of $7.0 million based on net sales of NIVIS over the next two years.

NIVIS is an absorbent collagen matrix indicated for the management of moderately to heavily exudating wounds and to control minor bleeding. MiMedx said the deal will enable the company to add xenograft products to its portfolio of Advanced Wound Care and Surgical solutions.

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