Led · Series C · Sep 2022

Embody develops collagen-based bio-fabrication techniques and products for the sports medicine market, including solutions for rotator cuff repair, foot & ankle, and knee ligament procedures. The company offers a platform of products such as the recently launched Tapestry RC System for rotator cuff repair. Embody is preparing a commercial launch of its ActivBraid™ high-strength collagen-based suture technology in 2023. Leadership is headed by CEO Jeff Conroy. Financially, the company has received more than $23M in DARPA and DoD funding to date and recently completed a $10.4M Series C. Embody intends to use the new funds to expand operations and conduct post-market clinical studies of the Tapestry RC System. Embody is advancing a regenerative platform for repair of tendon and ligament injuries using novel collagen-based bio-fabrication techniques. Its lead product is Tapestry®, a next-generation soft-tissue repair technology targeted at the sports medicine market. The company is developing biomaterials for orthopedic applications including Achilles, rotator cuff and knee ligament repair, including ACL. Led by co-founder and CEO Jeff Conroy, Embody plans to expand its team and commercially launch Tapestry in the second half of 2020. Founded in 2014 and based in Norfolk, Va., the company had previously received $20 million in DARPA and DOD funding. It closed a $9.3m Series A in May 2020 to support growth and commercialization efforts. Embody is a regenerative medicine company focused on developing and commercializing implantable medical devices. Its lead product, Tapestry, is a collagen-based microfiber implant designed for Achilles and rotator cuff repairs. Tapestry’s design leverages research showing collagen accelerates recellularization by promoting growth of aligned tissue over surgical repairs. The company says the product targets a combined U.S. market exceeding 750,000 surgical cases annually. Embody is led by CEO Jeff Conroy and is based in Norfolk, Virginia. It intends to use the new funding for pre-launch and pre-commercial activities. Product development has been funded in part by $12.1M in DARPA funding and an R&D contract. Embody develops collagen-based implantable medical devices designed to treat tendon and ligament injuries by promoting faster healing and restoring pre-injury performance. The company focuses on applications for warfighters and sports medicine patients. Led by CEO Jeff Conroy, Embody intends to advance treatment standards for soft tissue injuries. Recently it raised a convertible debt funding round (amount undisclosed) to support these efforts. The company has previously been funded with $12M from DARPA to further development for warfighters and veterans. Embody aims to improve the standard of care for soft tissue injuries through its implantable products.

Led · Series A · Jul 2022

SpinTech MRI is a Bingham Farms, Michigan-based developer of the FDA-cleared STAGE (STrategically Acquired Gradient Echo) quantitative MRI platform. STAGE integrates between the MRI scanner and PACS and does not alter radiologists' familiar workflows or desktop workspaces. The platform standardizes image data across scanner brands and models, and its rapid sequencing and processing reduces acquisition time for comprehensive brain imaging by an average of 40 percent. On 3T systems STAGE can acquire 16 brain imaging contrasts — including 10 enhanced qualitative outputs and 6 quantitative outputs — in about 5 minutes. The technology is used to improve diagnosis and monitoring for Parkinson’s, Alzheimer’s, dementia, multiple sclerosis, TBI, stroke, cerebral microbleeds and other neurological diseases and is deployed at more than 50 hospitals and institutions, including Yale School of Medicine. The company recently raised $6.5M in Series A financing and intends to use the funds to expand deployments of STAGE for neurologists, radiologists and researchers.

Led · Series A · Nov 2021

Happe Spine designs and commercializes spinal implants built on its HAPPE (HydroxyApatite Porous PEEK) material platform, which enables monolithic implant porosity in PEEK for endplate-to-endplate osteointegration. The platform aims to deliver the porosity advantages typically available only in 3D-printed titanium while using PEEK. The company will apply the Series A proceeds to launch an innovative interbody spinal fusion implant, complete final regulatory testing, and obtain 510(k) approval. Happe Spine also plans to scale manufacturing and the production of implant and instrument inventory and to add several new strategic leadership and staff positions. The material platform was invented at the University of Notre Dame by Dr. Ryan K. Roeder; the company has three issued patents with additional patents pending, and Dr. Roeder serves as founder, CTO and a board member. The company is based in Grand Rapids, Michigan.

Participated · Series B · Jan 2020

Virtual Incision is developing MIRA, a compact, drape- and dock-free miniaturized robotic-assisted surgery system designed to deliver internal triangulation and full wrist articulation inside the body. The device is lightweight and portable so it can be used in any operating room without a dedicated mainframe room. MIRA is an investigational device; the company completed an IDE clinical study for bowel resection and has a De Novo request under substantive FDA review. Virtual Incision holds over two hundred patents and patent applications and is focused on expanding access to RAS in routine and high-volume procedures, including outpatient and ambulatory settings. The company plans a limited launch of MIRA across select U.S. centers if marketing authorization is granted and will run a gynecologic clinical study planned for 2024. It is also developing a smaller minibot iteration with a first-in-human clinical study expected next year and will support a NASA–University of Nebraska–Lincoln collaboration to demonstrate telesurgery on the ISS. Virtual Incision is developing the MIRA (“miniaturized in vivo robotic assistant”) Surgical Platform, a small self-contained device inserted through a single midline umbilical incision to support multi-quadrant abdominal laparoscopic procedures. The technology is designed to work with existing minimally invasive tools and techniques, avoid the need for a dedicated operating room or specialized infrastructure, and to be significantly less expensive than existing robotic systems. The company recently reported the world’s first surgery using MIRA—a robotically assisted right hemicolectomy—performed under an FDA Investigational Device Exemption as part of a clinical study at a limited number of U.S. hospitals. Virtual Incision is developing a family of mini-robots for additional procedures including hernia repair, gallbladder removal, hysterectomy, and sleeve gastrectomy. The company holds foundational intellectual property with more than 200 patents and applications. Virtual Incision is headquartered in Lincoln, Neb., and recently raised financing to advance its regulatory, clinical, commercialization, and R&D programs. Virtual Incision develops the MIRA (“miniaturized in vivo robotic assistant”), a two-pound robotic platform for minimally invasive abdominal surgery. The company emphasizes MIRA’s portability and affordability compared with many existing, much larger surgical robots. VIC positions the device to expand access to minimally invasive procedures and improve patient outcomes. CEO John Murphy said the company believes the portable and affordable abdominal robot can bring these benefits to many more patients. The company plans an IDE clinical study with the FDA as the critical next step and will use recent funding to ready the device for commercialization. The latest financing brings the company’s total funding to $51 million. Virtual Incision is developing a small, self-contained robotically assisted surgical device (RASD) designed to be inserted through an umbilical incision to perform multi-quadrant abdominal procedures. The platform leverages artificial intelligence and machine learning to track and guide instrument usage and includes the company’s robotic flex tip laparoscope controlled by the surgeon. The company emphasizes compatibility with existing surgical tools and techniques and a design that does not require a dedicated operating room or specialized infrastructure. Virtual Incision says its technology has foundational intellectual property including over 140 patents and applications and was used outside the U.S. in 2016 in a safety and feasibility colon resection trial. The company is a University of Nebraska spinout based in Lincoln, Nebraska, and Pleasanton, California, and its devices are investigational and not commercially available. Virtual Incision recently raised an $18 million Series B to support development toward FDA 510(k) submission and near-term milestones including FDA clearance, U.S. team building, a surgeon training center at UNMC, and a China joint venture. Virtual Incision develops a first-of-its-kind miniaturized robotically assisted surgical device designed to be inserted in its entirety through a single abdominal incision to enable minimally invasive general surgery. The platform is designed to utilize existing tools and surgeon techniques, avoid dedicated operating-room infrastructure, and be significantly smaller and less expensive than current mainframe robotic systems. The company says the system could enable minimally invasive approaches to procedures that are typically performed open today, with potential to improve clinical outcomes and health-care costs. Its investigational device is supported by more than 90 pending and granted patents and 70 comparative medicine studies, and the technology is a spinout of the University of Nebraska. Virtual Incision plans to use the recently closed $11.2 million equity financing to fund a feasibility study of the robot for colon resection procedures. The device is not commercially available; the company is based in Lincoln, Neb. and Pleasanton, Calif.

Led · Series A · Oct 2018

Shoulder Innovations is a medical device company focused on shoulder arthroplasty that designs and commercializes implants and systems for shoulder replacement. Its core product platform centers on the patented InSet™ glenoid design, which testing has shown can significantly reduce glenoid implant micro-motion and simplifies the surgical technique, potentially reducing complications and increasing implant longevity. The company has also developed an anatomic reverse shoulder system designed to work with and maximize the available rotator cuff rather than substitute for it. Shoulder Innovations says it has expanded its product line and strengthened its sales organization and has emerged as a pure‑play leader in shoulder arthroplasty. Financially, the company closed a $40 million Series E equity financing led by U.S. Venture Partners to support commercialization and product development. Proceeds will be used primarily to advance commercialization of the InSet™ Total Shoulder and Reverse Shoulder Arthroplasty Systems, support new product development, and for general corporate purposes. Shoulder Innovations Inc. (SI) is a privately held medical device company based in Grand Rapids, Michigan and described as a leader in the shoulder replacement implant market. The company develops shoulder replacement implants and is supported by a broad team of innovators with experience in the shoulder space. SI announced it has closed an oversubscribed $42 million Series D financing. The financing round was led by Gilde Healthcare Partners. Returning investors included US Venture Partners, Lightstone Ventures and the cultivate (MD) Accelerator Capital fund; new investors include Gilmartin Capital and Aperture Venture Partners. The article does not disclose revenue, user metrics, or detailed use of proceeds. Shoulder Innovations develops a glenoid fixation solution for anatomic shoulder arthroplasty, commercialized as the InSet glenoid. Founded in 2009 and based in Holland, Mich., the company secured issued patents, 510(k) clearance and published multiple peer‑reviewed articles supporting the technology. In 2015 Genesis Innovation Group partnered with the company to provide capital and operational leadership, and Shoulder Innovations recorded its first commercial sale of the InSet glenoid in 2016. Continued investment led by Genesis and its cultivate(MD) Capital Funds and leadership from industry veterans supported ongoing growth and innovation. The company is led by CEO Rob Ball and has completed a $21.6M equity financing to further commercialization. The financing also prompted expansion of the board to six members, including new Series C representatives and two independent directors. Shoulder Innovations is a Holland, Mich.-based medical device company that develops and commercializes shoulder replacement systems. Led by Executive Chairman Rob Ball, the company leverages a patented inset glenoid design to commercialize a shoulder replacement implant system focused on improving outcomes related to glenoid loosening. It designs and commercializes innovative products aimed at improved patient care and reduced overall cost to the healthcare system. The company closed a $2.5M Series A equity funding round and intends to use the funds to accelerate new product development and to acquire inventory and assets to accelerate growth of its current Inset platform technology.