News

Embody Announces $20.5M Funding Round

Embody, Inc., a privately-held medical device company focused on soft tissue healing, announced that it has secured $11.5 million in an oversubscribed equity financing and entered into a debt financing agreement led by Horizon Technology Finance Corporation to provide up to $9 million in term loans, of which an initial $5 million has been funded, for a total of $20.5 million in available funds.  The funding will support the support the commercialization of Tapestry Biointegrative Implant, the launch of the Tapestry RCR system and post-market clinical studies of the Tapestry platform.

“We are pleased to have the support of our existing and new investors and to partner with Horizon, a leading venture debt provider that has an extensive history of supporting innovative life science companies,” said Jeff Conroy, Chief Executive Officer of Embody. “Through the second half of 2021 and early 2022, we anticipate a number of important milestones in the commercial expansion of our Tapestry platform.  This transaction immediately strengthens and extends our financial resources to advance our position in the market with the launch of Tapestry RCR for arthroscopic rotator cuff and our clinical pipeline.”

“We are delighted to provide this financing to Embody and have confidence in the Company’s technology and business strategy,” said Gerald A. Michaud, President of Horizon.  “We look forward to the Company reaching its critical milestones for its novel collagen technology platforms for soft tissue healing in sports medicine where there is a scarcity of technologies addressing the unmet needs of shoulder, knee, and foot & ankle injuries.”

Recent News

05/20/2024

Governor Youngkin Announces New VIPC-Led Initiative that Catalyzes and Attracts Investment into Virginia-based, Innovation-driven Startups and Entrepreneurs

Governor Glenn Youngkin announced a new initiative led by Virginia Innovation Partnership Corporation (VIPC) that expands investment and growth opportunities for Virginia-based, innovation-driven startups and entrepreneurial ecosystems throughout the Commonwealth. Leveraging previous Virginia-awarded federal funding from the U.S. Department of Treasury, under its SSBCI Equity/Venture Capital Program, VIPC’s Virginia Invests launches new investment partnerships with an

05/12/2024

Nanochon closes $4M Series Seed Prime

Nanochon, a Washington, DC-based orthopedic device biotech company has raised $4 million in its series seed prime fundraising round. The round was led by The University of Virginia Licensing and Ventures Group Seed Fund, with participation from Cultivate (MD), Alumni Venture Group, and Mountain State Capital, among others. Nanochon intends to use the funds to

05/09/2024

Agrospheres Announces Major Commercial Development Agreement with FMC Corporation

AgroSpheres, a biotechnology company pioneering breakthroughs in sustainable crop protection and crop health, today announced the signing of a major collaboration with FMC Corporation (NYSE:FMC), a global leader in agriculture sciences. The long-term alliance represents a major milestone in launching AgroSpheres’ vertically integrated product pipeline. Powered by a recent $25M Series B funding round and construction