In August 2018, Marc Beer, the founder of Renovia Inc., revealed that he had raised over $42.3 million from his start-up’s series B financing. The funds would support Renovia Inc.’s clinical research, as well as the development of diagnostic devices used to manage pelvic floor disorders.
Renovia Inc.’s series B funding was attended by leading healthcare investors like BayCross Capital Group, Inova Strategic Investments, OSF Ventures, Cormorant Asset Management, and Longwood Fund. Ascension Ventures and Perceptive Advisors steered it. Learn more: https://renoviainc.com/leadership/
Speaking after the funding event, Marc Beer professed that he was pleased by the support accorded by the group of healthcare investors with a shared mission. The investors worked to improve the lives of ladies living with detrimental pelvic floor disorders.
“Our new and existing financial investors are aligned to Renovia’s clinical and commercial mission,” alleged Marc Beer. The founder added that he was confident that the collaboration would generate valuable clinical data required to invent new and effective treatment solutions.
In particular, Marc Beer’s healthcare start-up would use the funds to develop efficient diagnostic solutions used in the management of Urinary Incontinence. The condition affects around 250 million women around the world.
Already, Renovia Inc. had developed a diagnostic tool that treated weakened pelvic floor muscles by supporting the optimal movement of the levator plate. Besides the treatment tool, Renovia Inc. had developed apps and data management tools that could be used to inform new treatment decisions.
An Overview of Marc Beer Renovia and His Healthcare Startup
Marc Beer Renovia established Renovia Inc. in 2016. The start-up collaborated with talented medical researchers who focused on developing commercial diagnostic tools that could be used to manage various pelvic floor disorders through pelvic floor muscle training.
The healthcare organization runs under the management of visionary executives like Samantha Pulliam, Jim O’Connor, Yolanda Lorie, Ramon Iglesias, and Jessica McKinney.
Marc Beer has a solid experience in the development of pharmaceutical, diagnostic, and biotechnology devices. Before establishing Renovia Inc. Mr. Beer worked as a senior executive in Aegerion Pharmaceuticals, ViaCell, Erytech Pharma, Genzyme, Global Marketing, and other principal companies in the US’ healthcare and biotechnology sector.
The first project since Beer left Aegerion in 2015 is Renovia. The accreditation of Renovia first product, Leva came in April 2018 from the Food and Drug Administration. Among the funding that Beer received is the contribution by the Longwood Fund which is an investment group that deals with healthcare matters that supported Renovia in its initial stages of establishment. The perceptive advisors of NY and the Missouri Ascension Ventures led the series B round. The financial infusion aids the development and testing of 4 products at Renovia. Beer for the company intends to produce a new generation of Leva.