It’s pretty rare to see well-funded medical device companies fly so smoothly under the radar, but Pennsylvania surgical reconstruction startup TELA Bio has done just that – it’s raised $45.3 million in equity, according to a regulatory filing. But that’s practically all we know.
The company held two funding rounds prior – $6 million in 2013 and $16.1 million in 2012. It’s led by Antony Koblish, who led orthobiologics maker Orthovita until it was sold three years ago to Stryker for $316 million.
Orthovita – and now Stryker – creates regenerative protein-based products for synthetic bone grafts. So what does TELA Bio do? Probably something quite similar. Here’s why:
Another board member is Kevin Rakin, who was CEO of Advanced BioHealing before it was acquired by the now-defunct Shire Regenerative Medicine. The company (which was the subject of a super messy Justice Department investigation, though that’s neither here nor there) developed skin-like grafting material for diabetic foot ulcers.
Teladoc’s chief medical officer, Maarten Persenaire, also played the same role at Orthovita from its formation in 1999 to the 2011 acquisition.
OrbiMed venture partner Vince Burgess is listed as a director of TELABio, so it’s a fair assumption he’s involved in its financial backing. Adele Oliva, a managing partner at investment firm 1315 Capital is also a listed director.
While we continue to badger TELA Bio (emails and calls have yet to be returned), take a peek at this Stryker employment offer letter to Koblish – looks like he turned down a nice $400,000 salary to head up its orthobiological section. Instead, he’s dedicated his time to this rather well-capitalized mystery startup. More soon.
