NORFOLK, Va., May 5, 2020 /PRNewswire/ -- Embody, Inc., a privately-held medical device company focused on soft tissue repair, announced today that is closed a $9.3 million Series A funding round led by Litigit LLC, with participation from Cultivate(MD) and 757 Angels. The financing will enable Embody to expand its world-class team and the commercial launch Tapestry®, its next-generation soft-tissue repair technology in the second half of 2020.
"This financing represents a significant step in the growth of Embody," said Jeff Conroy, Embody's Co-founder and Chief Executive Officer. "We are now in a position to execute on our goals of commercializing Tapestry, our first in a series of soft-tissue repair products for Achilles, rotator cuff and knee ligament injuries."
The global market for sports medicine products is expected to reach $9 billion by 2024. 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.
About Embody: Embody is pioneering the next generation regenerative platform for the repair of tendon and ligament injuries with novel collagen-based bio-fabrication techniques and products for the fast-growing sports medicine market. Founded in 2014 and funded with $20 million in DARPA & DOD funding, the company is developing unique biomaterials with an initial focus on orthopedic applications including Achilles, rotator cuff and knee ligament repair, including ACL (Anterior Cruciate Ligament).
SOURCE Embody, Inc.