Funds to Support Commercial Expansion and Post-Market Clinical Studies of Tapestry® for tendon and ligament injuries.
Grand Rapids, MI, September 20th, 2022 — cultivate(MD) Capital Funds LP, funds that are focused on investments into early-stage healthcare companies with innovative technologies, announced today that one of their portfolio companies, Norfolk, VA based Embody, Inc. announced a $10.4 million Series C financing. Embody, Inc., is a privately-held medical device company focused on soft tissue healing.
Led by the cultivate(MD) Accelerator Capital Fund, the funding will enable 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.
“This financing represents a notable step in the continued growth of Embody” said Jeff Conroy, Embody’s Founder and Chief Executive Officer. “We are thrilled to have the continued support of our highly seasoned investor base, further illustrating the opportunity and need of our soft tissue healing technology portfolio.”
Embody has pioneered the next generation regenerative platform with novel collagen-based bio-fabrication techniques and products for the fast-growing sports medicine market, including rotator cuff repair, foot & ankle, and knee.
“Embody’s collagen technologies have the potential to redefine the standard of care and approaches to the treatment of tendon and ligament injuries,” noted cultivate(MD) venture funds Executive Director, R. Sean Churchill, MD, MBA “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.”
About Embody: Embody, the soft tissue healing company, is pioneering the next generation regenerative platform with novel collagen-based bio-fabrication techniques and products for the fast-growing sports medicine market. The global market for sports medicine products is expected to reach $11 billion by 2023. Embody’s products focus on the most pressing patient needs: the repair of serious tendon and ligament injuries and are developed in close collaboration with some of the most advanced clinical thought leaders. Founded in 2014 and funded more than $23 million in DARPA & DOD funding, the company is developing unique biomaterials with an initial focus on orthopedic applications including foot & ankle, rotator cuff and knee ligament.
About cultivate(MD) Capital Funds: As a medical device venture capital fund, cultivate(MD) is dedicated to bringing emerging health care innovations to market, with a special focus on medical device and orthopedic technologies. cultivate(MD) is focused on investing in early stage healthcare companies with innovative technologies that have demonstrated evidence of effectiveness. For more information, visit: https://genesisinnovationgroup.com/
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