10:00 AM EDT, 03/20/2024 (MT Newswires) -- MiMedx Group ( MDXG ) has agreed to buy TELA Bio's ( TELA ) distribution rights for NIVIS Fibrillar Collagen Pack, a wound care product, for $5 million upfront, the two companies said on Wednesday.

MiMedx ( MDXG ) said it will also make additional payments of between $3 million and $7 million over the next two years based on sales of the product, the companies said.

Price: 8.07, Change: +0.02, Percent Change: +0.25