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Next Science - Agreement signed with TELA Bio Inc

Next Science Limited (ASX:NXS) (Next Science) is pleased to announce that it has signed a multi-year distribution agreement with NASDAQ listed medical technology company, TELA Bio, Inc in relation to the supply of a white labelled version of Next Science’s proprietary XPERIENCE 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 XPERIENCE. The agreement also grants TELA Bio, Inc a first right of negotiation for the EU market, upon successful CE approval for XPERIENCE, 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.

In the US alone, over 5 million plastic reconstructive procedures are done each year. TELA Bio’s immediate point of focus will be the breast augmentation and reconstruction market of over 400,000 procedures per year. Commercial sales are expected to commence by year end.

For more information, download the attached PDF.

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