Norfolk, Virginia-based Embody, Inc., a privately held medical device company, has announced that it has successfully closed a $10.4 million Series C funding round.
OTW spoke with Embody CEO and Co-Founder Jeff Conroy about how the company plans to use the funds. Conroy explained: “We plan to use funds to support the expansion of our proprietary collagen manufacturing process and facility in Norfolk.”
Conroy continued, “Enabling Embody to rapidly scale, supporting our commercial efforts and increased demand.”
According to the press release, the financing will also allow Embody to “expand its world-class operations, post-market clinical studies of the recently launched Tapestry RC System for rotator cuff and prepare for the commercial launch of ActivBraid™ high-strength collagen-based suture technology in 2023.”
Founded in 2014, Embody is a soft tissue healing company creating products for the sports medicine market. Per the press release, it has “pioneered the next generation regenerative platform with novel collagen-based bio-fabrication techniques and products.” These products are designed to repair serious tendon and ligament injuries. Embody’s current focus has been on products for foot and ankle, rotator cuff, and knee ligament.
OTW also spoke with Embody Chief Commercial Officer Rob Brown about the company’s plans for the remainder of the year. Brown told OTW, “We anticipate furthering our clinical data generation with the launch of patient registries in rotator cuff and subscapularis repair in total shoulder arthroplasty.”
Genesis Innovation Group’s cultivate(MD) Capital Funds LP led the funding round. cultivate(MD) is a medical device venture capital fund focused on bringing new health care inventions to market. cultivate(MD) is especially interested in medical device and orthopedic technologies.
Genesis Innovation Group and cultivate(MD)’s Executive Director R. Sean Churchill, M.D., MBA commented, “Embody’s collagen technologies have the potential to redefine the standard of care and approaches to the treatment of tendon and ligament injuries.”
Dr. Churchill continued, “We are proud to partner with Embody and believe the technology and team are well positioned to be a leader in the sports medicine market space.”
