Orthopedic-focused medtech startup Embody raised $1.5 million to help support its tendon and ligament-treating products, according to a Hampton Roads Business Journal report.
The round was led by 757 Angels and the Center for Innovative Technology, according to the report.
Embody is using proprietary manufacturing techniques to produce advanced collagen matrices intended for use in tendon and ligament repairs, according to the company’s website.
The company is pursuing FDA approval of its products and is hopeful for a launch next year, according to the Hampton Roads Business Journal report.
The new funds add to the $12 million in funding the company received from a Defense Advanced Research Projects Agency grant as well as a $150,000 loan from the Norfolk Economic Development Authority’s Innovation Fund, according to the report. The company also won $800,000 in funding from the Virginia Bioscience Health Research Corporation to work with the University of Virginia and Old Dominion University.