Embody
April 5, 2022
Embody, Inc. to invest $5 million to increase research and development capabilities for soft tissue healing
Commonwealth of Virginia
Office of Governor Glenn Youngkin
FOR IMMEDIATE RELEASE · April 5, 2022
Office of the Governor
Contact: Macaulay Porter
Email: Macaulay.Porter@governor.virginia.gov
Virginia Economic Development Partnership
Contact: Suzanne Clark
Email: sclark@vedp.org
Embody, Inc.
Contact: Rob Brown
Phone: (757) 777-5674
Email: rbrown@embody-inc.com
Governor Glenn Youngkin Announces Sports Medicine Company to Expand in the City of Norfolk, Creating 92 New Jobs
~ Embody, Inc. to invest $5 million to increase research and development capabilities for soft tissue healing ~
RICHMOND, VA – Governor Glenn Youngkin today announced that Embody, Inc., a Norfolk-based medical device company developing novel collagen-based technologies for soft tissue repair, will invest $5 million to expand its headquarters at Innovation Research Park at Old Dominion University in the City of Norfolk. The company will add 10,000 square feet to its operation to increase product research and development capabilities. The expansion project will create 92 new jobs.
“Embody’s growth in the City of Norfolk demonstrates the strength of research and development, higher education resources, and talent the Hampton Roads region offers innovative medical technology developers,” said Governor Youngkin. “We look forward to seeing this homegrown Virginia company’s far-reaching impact, advancing the sports medicine field in our Commonwealth and beyond.”
“Embody’s next-generation platform for the repair of tendon and ligament injuries has the potential to significantly improve human health and recovery, and we are proud that this cutting-edge company was founded in Virginia as a startup and continues to flourish,” said Secretary of Commerce and Trade Caren Merrick. “The City of Norfolk and the surrounding region provide the assets and workforce pipeline to support Embody’s mission, and we thank the company for creating high-quality jobs and boosting the local economy.”
“Building Embody in the Commonwealth of Virginia and specifically within the City of Norfolk has proven to be an advantage for us,” said Jeff Conroy, Founder and CEO of Embody. “It only makes sense that we expand this relationship as we prepare for significant growth. The advantages for us include access to a technical workforce, strong academic and clinical research partners, our DARPA/DOD partners, and an investor base committed to funding innovation and breakthrough healthcare.”
“We are grateful for Embody, Inc.’s decision to invest $5 million in its Norfolk headquarters and create 92 high-wage jobs,” said Norfolk Mayor Kenneth Cooper Alexander. “Embody’s growth within the City of Norfolk’s internationally recognized Norfolk Innovation Corridor confirms we remain a premier destination for technology businesses.”
“Embody, Inc.’s decision to further invest in its Norfolk headquarters will create good-paying jobs and ensure that Hampton Roads remains an important economic hub for the Commonwealth of Virginia,” said Congressman Bobby Scott. “I am grateful for the Virginia Economic Development Partnership’s work on this project which will compliment all the work we are doing at the federal level to continue our historic recovery from the pandemic.”
“Norfolk is quickly becoming a world-renowned hub for tech businesses, research, and educational advancement,” said Senator Lynwood W. Lewis. “Embody, Inc.’s decision to invest and expand its Norfolk headquarters is a testament to this, and is exciting news for the City of Norfolk, the greater Hampton Roads region, and the Commonwealth.”
“Norfolk is excited about the arc of innovation bending toward equity, especially in a period of challenging and evolving global competition for new businesses and jobs,” said Delegate Jackie Hope Glass. “As Embody expands its mission to improve quality of life and promote healing in sports medicine, we are elated to build and bend that arc with them in our backyard.”
Founded in 2014, Embody, the soft tissue healing company, 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. Funded by more than $20 million in Defense Advanced Research Projects Agency (DARPA) and Department of Defense funding, the privately held company is developing unique biomaterials with an initial focus on orthopedic applications including foot and ankle, rotator cuff, and knee ligament, including ACL (Anterior Cruciate Ligament).
The Virginia Economic Development Partnership (VEDP) worked with the City of Norfolk to secure the project for Virginia and will support Embody’s job creation through the Virginia Jobs Investment Program (VJIP), which provides consultative services and funding to companies creating new jobs in order to support employee recruitment and training activities. As a business incentive supporting economic development, VJIP reduces the human resource costs of new and expanding companies. VJIP is state-funded, demonstrating Virginia’s commitment to enhancing job opportunities for citizens. The company is also eligible to receive state benefits from the Virginia Enterprise Zone Program, administered by the Virginia Department of Housing and Community Development.
Embody was recently selected to participate in VEDP’s award-winning Virginia Leaders in Export Trade (VALET) Program. VALET is an application-based, two-year global export acceleration program that provides participating companies with assistance from a team of experienced international service providers to help meet their export goals.
View photos from the event at https://norfolkdevelopment.com/