Renovia Inc., is a startup founded by Marc Beer alongside Ramon Iglesias, MD, and Yolanda Lorie back in August of 2016. The firm managed to successfully close a Series A financing with leading healthcare venture capital funds, and recently announced the closing of a Series B round with $32 million, and also $10 million in venture debt. With the addition of the new funds, the company is now able to move forward with a number of new products designed for pelvic floor disorders.
The Boston-based Renovia is currently developing diagnostic and therapeutic products that aim to treat pelvic floor disorders such as urinary incontinence, which affects approximately 250 million women across the world, according to researchers. The company’s first product, called Leva, received the Food and Drug Administration approval back in April of this year.
The Series B round included the participation of The Longwood Fund, which is a investing firm focused on the healthcare sector, and an early backer of Renovia. The round was led by the New York-based firm Perceptive Advisors, and Ascension Ventures (Missouri-based). The funding will help develop and test 4 more therapeutic and diagnostic products, which includes a new generation of the Leva device.
The Chief Executive Officer of Renovia, Marc Beer, talked about the Series B round of financing and stated that the company is thrilled to receive support of leading healthcare investors who are sharing the company’s vision when it comes to diagnosing, treating, and improving the lives of millions of women who suffer from pelvic floor disorders. Beer also noted that combining the company’s proprietary and innovative sensor technologies as well as form factors with a digital health platform will help give Renovia’s customers data in order to inform about new treatment options and drive better knwoledge and understanding when it comes to pelvic floor disorder – with the ultimate goal being to lower the long-term healthcare costs. Learn more: https://renoviainc.com/leadership/
Marc Beer has over 25 years of experience when it comes to development as well as commercialization in pharmaceuticals, biotechnology, diagnostics, and devices. Prior to co-founding Renovia, Beer built a name for himself within the industry, working for several leading companies. In April of 2000, he became the Founding Chief Executive Officer at ViaCell, which was a biotech company that specialized in the collection, preservation, and development of umbilical cord blood stem cells. Under his 7-year leadership, the company grew to having more than 300 employees, became publicly traded in 2005, and was bought by PerkinElmer in 2007. Beer was also a member of the board of directors at Erytech Pharma, was Vice President of Global Marketing at Genzyme, and held various roles in sales and marketing at Abbott Laboratories, and was a member of the Mass Life Science Board of the Commonwealth of Massachusetts, among other roles within the industry.