Renovia Inc. recently received a financial boost for the development of several new products for the treatment of pelvic floor disorders with Marc Beer managing to raise $32 million through Series B and $10 million in venture debt. The pharmaceutical startup was co-founded by Marc Beer and it develops various therapeutic and diagnostic products aimed at treating pelvic floor disorders including urinary incontinence in women.
According to a research, over 250 million women across the world suffer from urinary incontinence. Renovia is committed to improve the lives of women across the world through pelvic floor disorders therapeutic and diagnostic products. It has manufactured several products including Leva device which received FDA accreditation early last year.
The Longwood Fund was among the participants in the financing round which was overseen by the Missouri-based Ascension Ventures as well as New York-based Perceptive Advisors. The Longwood Fund was among the early healthcare firms which invested in Renovia. The Boston-based medtech company is now able to move forward with its four products with development and testing. It will also test and develop a new generation of the Leva device.
In a statement, Marc Beer expressed his gratitude with the healthcare investors who have given him unwavering support. He terms that the support he has gotten from the healthcare investors is as a result of their belief in his vision of improving the lives of women across the world who are affected by pelvic floor disorders through development of therapeutic and diagnostic products for the disorders. The Renovia CEO also said that the company using technologies and every resource within its reach to derive understanding of pelvic disorders and inform new treatment options with an ultimate aim of reducing healthcare costs in the long-term.
Marc Beer has built a very successful career in the healthcare sector proving to be a useful resource in the sector. He was a strategic consultant at OvaScience (Nasdaq: OVAS), a company which announced that it was merging with Millendo Therapeutics.
About Marc Beer
Marc Beer brings over 25 years of experience in the healthcare sector. Particularly, he has worked in biotechnology, diagnostics, devices, pharmaceuticals, and diagnostics. He co-founded Marc Beer alongside Ramon Iglesias and Yolanda Lorie. He managed to close Series A financing successfully during its early stages of inception.
Marc Beer founded ViaCell and served as CEO for the biotechnology company until it was acquired by PerkinElmer in 2007. The company specialized on acquisition, preservation, as well as development of umbilical blood stem cells. He also was a member of the board of directors of Erytech Pharma. Additionally, he served at Genzyme where he climbed up the ladder to become Vice President of Global Marketing. He held various sales and marketing roles in Abbott Laboratories. He was a member of the Mass Life Science Board of the Commonwealth of Massachusetts. Learn more: https://renoviainc.com/leadership/