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TELA Bio, Inc. ("TELA Bio"), a commercial-stage medical technology company focused on providing innovative soft-tissue reconstruction solutions, today announced a comprehensive board refreshment plan designed to support the Company's next phase of commercial growth and operational excellence.
In a unanimous decision by the current seven-member Board of Directors, four respected directors have agreed to step down following the Company's 2026 Annual Meeting of Stockholders on June 9, 2026 (the "2026 Annual Meeting"), to make room for four new highly accomplished executives with deep expertise in medtech commercialization, financial strategy, venture capital, and corporate turnarounds. This refreshment reflects the Board's strong commitment to positioning TELA Bio for long-term success.
Departing Directors (effective at the conclusion of the 2026 Annual Meeting):
- Doug Evans, Chairman of the Board
- Kurt Azarbarzin
- Vince Burgess
- Federica O'Brien
New Directors (effective immediately after the conclusion of the 2026 Annual Meeting):
- Joseph Capper will be nominated for election as a Class I director at the 2026 Annual Meeting and is expected to serve as Chair of the Board upon election
- Guy Nohra has been appointed as a Class II director
- Joseph Neels has been appointed as a Class III director
- Paul Thomas has been appointed as a Class III director
William Plovanic and Betty Jo Rocchio, who recently joined the Board and whose terms are also expiring, will stand for election and continue to provide valuable continuity. Antony Koblish, CEO, will also remain on the board.
"The Board and management team are fully aligned on this important refreshment," said Antony Koblish, Co-Founder and Chief Executive Officer of TELA Bio. "We are extremely grateful to Doug, Vince, Kurt, and Freddi for their many contributions in building TELA Bio into a commercial-stage company with a strong foundation in soft-tissue reconstruction. Their leadership and dedication have been instrumental."
"We are excited to welcome this outstanding group of four prestigious leaders whose collective experience will be invaluable as we execute our commercial strategy, improve operational efficiency, and advance toward sustainable profitability and value creation for shareholders. This is a pivotal step forward for the Company."
The new directors bring extensive track records in scaling medtech companies, venture capital investment in life sciences, optimizing commercial organizations, and navigating complex financial and strategic transformations, expertise that directly aligns with TELA Bio's current priorities.
Preliminary First Quarter 2026 Revenue
The Company also announced preliminary revenue for the first quarter of 2026 of approximately $19.0 million versus previously provided guidance of approximately $18.5 million. Full financial results for the quarter will be reported after the market close on May 12, 2026.
The preliminary financial information presented in this press release is based on the Company's current expectations and may be adjusted as a result of, among other things, the completion of the quarterly review and financial closing procedures. The preliminary financial information reflects management's estimates and assumptions that are inherently subject to risks and uncertainties. The Company's actual results may differ from these preliminary results and such differences may be material. The Company undertakes no obligation to update or supplement the information provided in this press release until the Company releases its financial statements for the three months ended March 31, 2026.
About the Incoming Directors
Joseph Capper
A highly experienced and accomplished healthcare executive, Mr. Capper has nearly 30 years of experience in MedTech and Life Sciences leadership roles and a track record of substantial value creation. Mr. Capper has been CEO of MiMedx Group Inc. (NASDAQ: MDXG) since January 2023. Before that, he was CEO of BioTelemetry, Inc. (formerly NASDAQ: BEAT), from 2010 to 2021, guiding the company through a significant turn-around, which culminated in its acquisition by Royal Philips for $2.8 billion. Prior to BioTelemetry, he served as President and CEO of both Home Diagnostics and CCS Medical. Mr. Capper brings a wealth of commercial experience, having held several leadership roles earlier in his career during the decade he spent with Bayer AG. Additionally, he was an officer in the U.S. Navy serving with distinction as a naval aviator. Mr. Capper has served on the board of directors of Anika Therapeutics, Inc. (NASDAQ: ANIK), since May 2024. Mr. Capper received his undergraduate degree in Accounting from West Chester University and an MBA in International Finance from George Washington University.
Guido Neels
Mr. Neels joined EW Healthcare Partners ("EW") in 2006 and is an Operating Partner. He currently serves on the Board of Directors of several companies, including Elutia Inc. (NASDAQ: ELUT), Impulse Dynamics, Corvista, Enercon Technologies, and Bioventus Inc. (NASDAQ: BVS). Prior to joining EW, Mr. Neels served as Chief Operating Officer of Guidant Corporation, a world leader in the development of cardiovascular medical products prior to the company's acquisition for $25 billion. Mr. Neels was responsible for the global operations of Guidant's four operating units, Cardiac Rhythm Management, Vascular Intervention, Cardiac Surgery, and Endovascular Solutions, including responsibility for worldwide sales operations, corporate communications, corporate marketing, investor relations, and government relations. He also served as Vice President of Global Marketing for Vascular Intervention and as Managing Director for German and Central European operations. Prior to joining Guidant, Mr. Neels held general management, sales, and marketing positions at Eli Lilly in the U.S. and Europe. Mr. Neels previously served on the board of directors of Axogen, Inc. (NASDAQ: AXGN) from August 2015 to June 2025. Mr. Neels holds a Business Engineering degree from the University of Leuven in Belgium and a Master of Business Administration from Stanford University.
Guy Nohra
Mr. Nohra is a co-founder of Alta Partners, and was also a partner at Burr, Egan, Deleage & Co., which he joined in 1989. Mr. Nohra has been involved in the funding and development of notable medical technology and life science companies including ATS Medical, Cutera, Innerdyne, R2 Technology, deCODE genetics, and Vesica. Previously, Mr. Nohra was Product Manager of Medical Products with Security Pacific Trading Corporation. He was responsible for a multi-million dollar product line and traveled extensively in Korea, Taiwan, Hong Kong, China, and Southeast Asia. Currently, Mr. Nohra serves on the board of directors Bioventus Inc. (NASDAQ: BVS). He previously served on the board of directors of AcelRx Pharmaceuticals (formerly NASDAQ: ACRX), Carbylan Biosurgery (formerly NASDAQ: CBYL), Vertiflex and was the Chairman of the board of directors of USGI Medical and served on the board of directors of the Medical Device Manufacturing Association. He was named to the Forbes "Midas List" of dealmakers in high-tech and life sciences in 2007. In 2016 Mr. Nohra cofounded Alta Life Sciences, a venture fund based in Barcelona. Mr. Nohra has also served as the President of the Silicon Valley chapter of The Leukemia and Lymphoma Society for two terms. He holds a Master of Business Administration from the University of Chicago and a Bachelor of Arts in History from Stanford University.
Paul Thomas
Mr. Thomas currently serves as the Chief Executive Officer and Co-Founder of Prominex, Inc., a company focused on the development of molecular diagnostic assays for point-of-care infectious disease testing, a position he has held since 2018. Mr. Thomas previously served as the Chief Executive Officer of Roka Bioscience, a molecular diagnostic company focused on pathogen testing, a position he held from 2009 until 2017. Before that, he served as Chairman and Chief Executive Officer of LifeCell Corporation (formerly NASDAQ: LIFC), a regenerative medicine company from 1998 until it was acquired by KCI in 2008 in a transaction valued at $1.8 billion. Mr. Thomas previously held various senior positions, including President of the Pharmaceutical Products Division, during his tenure of 15 years with Ohmeda, a world leader in inhalation anesthetics and acute care pharmaceuticals. Mr. Thomas has served on the board of directors of Axogen Corporation (NASDAQ: AXGN) since 2020. Mr. Thomas received his MBA degree from Columbia University Graduate School of Business and completed his postgraduate studies in Chemistry at the University of Georgia Graduate School of Arts and Science. He received his B.S. degree in Chemistry from St. Michael's College in Vermont.
About TELA Bio, Inc.
TELA Bio, Inc. (NASDAQ: TELA) is a commercial-stage medical technology company focused on providing innovative technologies that optimize clinical outcomes by prioritizing the preservation and restoration of the patient's own anatomy. The Company is committed to providing surgeons with advanced, economically effective soft-tissue reconstruction solutions that leverage the patient's natural healing response while minimizing long-term exposure to permanent synthetic materials. For more information, visit www.telabio.com.
Caution Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements and reflect the current beliefs of TELA Bio's management. These statements are not guarantees of future performance and are subject to certain risks, uncertainties, and other factors that could cause actual results and events to differ materially and adversely from those indicated by such forward-looking statements. These risks and uncertainties are described more fully in the "Risk Factors" section and elsewhere in our filings with the Securities and Exchange Commission and available at www.sec.gov, including in our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Any forward-looking statements that we make in this press release speak only as of the date of this press release, and TELA Bio assumes no obligation to update forward-looking statements whether as a result of new information, future events or otherwise after the date of this press release, except as required under applicable law.
Investor Contact
Louisa Smith
ir@telabio.com
