MALVERN, Pa., Sept. 27, 2021 (GLOBE NEWSWIRE) -- TELA Bio, Inc. ("TELA"), a commercial-stage medical technology company focused on designing, developing, and marketing innovative tissue reinforcement materials to address unmet needs in soft tissue reconstruction, today announced the appointment of Roberto Cuca as the Company's new Chief Operating Officer (COO) and Chief Financial Officer (CFO). As COO and CFO, Roberto Cuca will lead the execution of the Company's business plan and manage the Company's finances. He will report directly to President and Chief Executive Officer, Antony Koblish.
Roberto Cuca joins the TELA team with over 25 years of experience in relevant operational and finance positions within the healthcare industry. Most recently, Mr. Cuca served as Chief Financial Officer of OraSure Technologies, a point-of-care testing and sample collection technologies company, where he led the finance and IT functions since joining in 2018. Prior to that time, Mr. Cuca served as Senior Vice President and Chief Financial Officer of Trevana, Inc., a clinical-stage biopharmaceutical company, where he led the finance and investor relations functions and worked with senior management to establish and execute overall corporate strategy. Prior to his time with Trevana, Mr. Cuca held various leadership positions within the finance organization of Endo Health Solutions Inc., a pharmaceutical company, including Treasurer and Senior Vice President, Finance, where he was responsible for capital raises and cash management, mergers, acquisitions and licensing transactions, tax planning and compliance, and risk management. Mr. Cuca received an M.B.A from the Wharton School of the University of Pennsylvania, a J.D. from Cornell Law School, and an A.B. from Princeton University. Mr. Cuca is also a CFA Charterholder.
"I am delighted to welcome Roberto to the TELA Bio team. We are privileged to have such a talented professional joining us in the COO and CFO roles. We have built a solid team to date and are pleased to be adding further strength at the executive level," said Antony Koblish, President and CEO of TELA Bio. "His extensive operational and financial experience, along with a proven track record of execution, will be a valuable addition to TELA."
"I'm thrilled to join TELA Bio and to contribute to a company making significant advancements in soft tissue reinforcement and reconstruction," said Roberto Cuca, COO and CFO of TELA Bio. "I look forward to working with Tony and the entire organization, bringing my knowledge and experience to bear on the execution of TELA's business plan and strategy and driving continued growth."
On September 27, 2021, in connection with Mr. Cuca's appointment as COO and CFO and in accordance with the terms of an employment agreement between Mr. Cuca and TELA, the Board of Directors granted Mr. Cuca an option to purchase 144,000 shares of TELA's common stock, with an exercise price equal to the closing price of TELA's common stock on the NASDAQ Global Market on September 27, 2021. The option was granted as an inducement material to his acceptance of employment in accordance with Nasdaq Listing Rule 5635(c)(4). The option vests 25% on the first anniversary of the grant date, with the remaining 75% vesting in 36 equal monthly installments thereafter. The vesting of the option is subject to Mr. Cuca's continued service with the Company.
About TELA Bio, Inc.
TELA Bio Inc. (NASDAQ: TELA) is a commercial-stage medical technology company focused on designing, developing, and marketing innovative tissue reinforcement materials to address unmet needs in soft tissue reconstruction. The Company is committed to providing patients with advanced, economically effective biologic material repair solutions to minimize long-term exposure to permanent synthetic materials and improve clinical outcomes. TELA Bio's OviTex® and OviTex PRS Reinforced Tissue Matrix products are purposefully designed to address the shortcomings of existing reinforcement materials in hernia repair, abdominal wall reconstruction, and plastic and reconstructive surgery. 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'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 announcement speak only as of the date of this press release, and TELA 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
Greg Chodaczek
347-620-7010
ir@telabio.com
