TELA Bio Secures Up to $50M in Debt Financing from MidCap Financial 

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TELA Bio Secures Up to $50M in Debt Financing from MidCap Financial
Nereida S. Franks May 31, 2022 Debt financing
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 servicing. 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…

Adaptive Phage Therapeutics Announces $40.75 Million Series B Financing

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Adaptive Phage Therapeutics (APT), a clinical-stage biotechnology company dedicated to providing therapies to treat infectious diseases, today announced that the company has closed a $40.75 million Series B investment round led by Deerfield Management Company. Also joining the Series B round are existing investor Mayo Clinic and an additional undisclosed institutional investor. Proceeds of this financing will be used to accelerate clinical development of PhageBank™ phage therapies as well as for general corporate purposes.

Seraxis Announces Closing of $40M Series C Financing Round

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GERMANTOWN, Md., Feb. 9, 2021 /PRNewswire/ –Seraxis, a biotech company developing a cell replacement therapy for insulin-dependent diabetes today announced the successful closing of a $40M Series C private financing round. The financing was [….]