SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No. 1)*

TELA Bio, Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

872381108

(CUSIP Number)

Brian Schwenk

Quaker BioVentures II, L.P.

150 Monument Road, Suite 207
Bala Cynwyd, Pennsylvania 19004
(215) 988-6800

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

December 31, 2020

(Date of Event which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

* Includes (i) 1,751,100 shares of common stock, par value $0.001 per share (the “Shares”), of TELA Bio, Inc. (the “Issuer”) and (ii) 18,096 Shares issuable upon the exercise of warrants to purchase Shares (the “Warrants”).

** This percentage is calculated based upon 14,432,285 Shares outstanding, as set forth in the Issuer’s Quarterly Report on Form 10-Q with the Securities and Exchange Commission (“SEC”) on November 12, 2020, and includes an additional 18,096 Shares subject to currently exercisable Warrants held by the Reporting Persons.

* Includes (i) 1,751,100 Shares, of the Issuer and (ii) 18,096 Shares issuable upon the exercise of Warrants.

** This percentage is calculated based upon 14,432,285 Shares outstanding, as set forth in the Issuer’s Quarterly Report on Form 10-Q with the SEC on November 12, 2020, and includes an additional 18,096 Shares subject to currently exercisable Warrants held by the Reporting Persons.

* Includes (i) 1,751,100 Shares, of the Issuer and (ii) 18,096 Shares issuable upon the exercise of Warrants.

** This percentage is calculated based upon 14,432,285 Shares outstanding, as set forth in the Issuer’s Quarterly Report on Form 10-Q with the SEC on November 12, 2020, and includes an additional 18,096 Shares subject to currently exercisable Warrants held by the Reporting Persons.

Item 1.

Item 2.

(a) Name of Person Filing:

Quaker BioVentures II, L.P.
Quaker BioVentures Capital II, L.P.
Quaker BioVentures Capital II, LLC.

(b) Address of Principal Business Office: 150 Monument Road, Suite 207, Bala Cynwyd, Pennsylvania 19004.

(c) Citizenship:

Quaker BioVentures II, L.P. - Delaware

Quaker BioVentures Capital II, L.P. - Delaware

Quaker BioVentures Capital II, LLC - Delaware

(d) Title and Class of Securities: Common Stock

(e) CUSIP Number: 872381108

Item 3. Not applicable.

Item 4. Ownership.

Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.

(a) Amount Beneficially Owned.

Quaker BioVentures II, L.P. - 1,769,196

Quaker BioVentures Capital II, L.P. - 1,769,196

Quaker BioVentures Capital II, LLC - 1,769,196

(b) Percent of Class.

Quaker BioVentures II, L.P. – 12.2%

Quaker BioVentures Capital II, L.P. – 12.2%

Quaker BioVentures Capital II, LLC – 12.2%

(c) Number of shares as to which such person has:

(i) Sole power to vote or to direct the vote:

Quaker BioVentures II, L.P. – 0

Quaker BioVentures Capital II, L.P. – 0

Quaker BioVentures Capital II, LLC – 0

(ii) Shared power to vote or to direct the vote:

Quaker BioVentures II, L.P. - 1,769,196

Quaker BioVentures Capital II, L.P. - 1,769,196

Quaker BioVentures Capital II, LLC - 1,769,196

(iii) Sole power to dispose or to direct the disposition of:

Quaker BioVentures II, L.P. – 0

Quaker BioVentures Capital II, L.P. – 0

Quaker BioVentures Capital II, LLC – 0

(iv) Shared power to dispose or to direct the disposition of:

Quaker BioVentures II, L.P. - 1,769,196

Quaker BioVentures Capital II, L.P. - 1,769,196

Quaker BioVentures Capital II, LLC - 1,769,196

All beneficial ownership amounts disclosed above include 18,096 Shares issuable upon the exercise of Warrants. Quaker BioVentures Capital II, L.P. is the general partner of Quaker BioVentures II, L.P., and Quaker BioVentures Capital II, LLC is the general partner of Quaker Capital L.P.

Item 5. Ownership of Five Percent or Less of a Class

If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following ☐.

Item 6. Ownership of More than Five Percent on Behalf of Another Person

Not applicable.

Item 7. Identification and Classification of the Subsidiary which Acquired the Security Being Reported on by the Parent Holding Company

Not applicable.

Item 8. Identification and Classification of Members of the Group

Each of the Reporting Persons may be deemed to be a member of a group with respect to the issuer or securities of the issuer for the purpose of Section 13(d) or 13(g) of the Securities Exchange Act of 1934, as amended.

Item 9. Notice of Dissolution of Group

Not applicable.

Item 10. Certification

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having the purpose or effect.

SIGNATURES

After reasonable inquiry and to the best of our knowledge and belief, the undersigned certify that the information set forth in this statement is true, complete and correct.