Renovia Inc. is moving forward with the development of new products to combat pelvic floor disorders. This is after sealing a $32 million Series B round deal. Renovia also closed a $10 million deal debt. Renovia Inc., which was co-founded by Marc Beer, is developing other therapeutic products to combat urinary incontinence. Researchers approximate that more than 250 million people around the globe are affected by urinary incontinence. In April, FDA approved Leva, which is Renovia’s first product.
The Series B round initiative, which was led by Perspective Advisors, based in New York and Ascension Ventures in Missouri has attracted other players like The Longwood Fund, an investment firm that focuses on healthcare. The Longwood Fund has invested in Renovia, and the funding will be directed towards the development and testing of four more diagnostic and therapeutic products. The development will incorporate new Leva device.
Mark Beer, the Chief Executive Officer at Renovia says they are thrilled by the funding from healthcare investors with the vision of diagnosing, treating, and enhancing the lives of millions of women affected by pelvic floor disorders around the world. The idea is to create a combination of innovative and proprietary sensor technologies culminating to a digital health platform, which will provide valuable data to the clients and suggest new treatment options, enhance greater knowledge and understanding of the pelvic floor disorders. This will enhance the lowering of long-term healthcare costs. Marc Beer ventured into Renovia since leaving his previous position in 2015. He has also served in OvaScience as the strategic consultant.
About Marc Beer
Marc Beer is the co-founder, Chairman, and CEO of Renovia Inc. His development and commercialization experience in biotechnology, devices, pharmaceuticals, and diagnostics spans more than 25 years. Together with Ramon Iglesias, they founded Renovia, which went to win the Series A funding. Marc previously served as CEO, where he focused on developing and commercialization of innovative therapies for those affected by rare, debilitating diseases.
Marc is the founding CEO of ViaCell, a biotechnology company that collects preserves and develops umbilical cord stem cells. The company’s operations commenced in the year 2000 and Marc steered it to become one of the best commercial organizations with 300 employees. Marc also sat in the Erytech Pharma board of directors. Erytech Pharma was a publicly traded biopharmaceutical company. He has served as the vice president of Global Marketing and is credited with the commercial launch of various products that combat rare disease affecting populations around the world.
Marc attended the Miami University and is the founding chairperson of Good Start Genetics’ board of directors as well as the compensation committee in the same company. he is a member of the Notre Dame Graduate Studies Research and Advisory Council as well as Notre Dame Research and Commercialization Advisory Committee. Learn more : https://www.slideshare.net/MarcBeer