Next Science Limited Signs Multi-Year Distribution Agreement with Tela Bio, Inc
October 31, 2021 at 05:12 pm EDT
Share
Next Science Limited announce that it has signed a multi-year distribution agreement with TELA Bio, Inc. in relation to the supply of a white labelled version of Next Science's proprietary XPERIENCETM No Rinse Antimicrobial Solution. The new agreement grants TELA Bio, Inc. exclusive rights across the US plastic reconstructive surgery market for the sale and marketing of the white labelled version of XPERIENCETM. The agreement also grants TELA Bio, Inc. a first right of negotiation for the EU market, upon successful CE approval for XPERIENCETM, on similar deal terms. The
agreement includes an annual licensing fee plus transfer price arrangement and minimum purchase amounts that must be met to retain exclusivity. The agreement term is 10 years and automatically extends for an additional period of 10 years unless notice is given by either party that they do not wish to extend.
TELA Bio, Inc. is a commercial-stage medical technology company. The Company is focused on providing soft-tissue reconstruction solutions that optimize clinical outcomes by prioritizing the preservation and restoration of the patientâs own anatomy. Its first portfolio of products, the OviTex Reinforced Tissue Matrix (OviTex), addresses unmet needs in hernia repair and abdominal wall reconstruction. Its OviTex portfolio consists of multiple product configurations intended to address various surgical procedures within hernia repair and abdominal wall reconstruction, including ventral, inguinal, and hiatal hernia repair. The Company's OviTex products include OviTex 1S, OviTex 2S, and OviTex LPR. Its second portfolio of products, the OviTex PRS Reinforced Tissue Matrix (OviTex PRS), addresses unmet needs in plastic and reconstructive surgery. OviTex PRS is indicated for use in implantation to reinforce soft tissue where weakness exists in patients requiring soft-tissue repair.
TELA BIO, INC. 
