Renovia Inc., co-founded by Marc Beer, closed a $32 million Series B round on Tuesday as well as $10 million in venture debt. This will see the company move forward with new innovative products for pelvic floor disorders.
Research has shown that pelvic floor disorders affects over 250 million women across the world. Renovia, Boston-based Medtech Company, has endeavored to develop various diagnostic as well as therapeutic products to treat pelvic floor disorders such as urinary incontinence.
The Longwood Fund invested early in Renovia joined the Series B round. The Series B round was overseen by Perceptive Advisors which is based in New York as well as Ascension Ventures which is based in Missouri. The funding will be used to develop various products including a new generation of the Leva device.
In a statement, Marc Beer, said that they were thrilled to be supported by the group of leaders in healthcare investment who share their vision to give better diagnosis and treatment to millions of women affected by the disorder. He continued to say that the combination of their innovative and proprietary sensor technologies data, form factors and a digital health program will go a long way into giving their customers valuable data to bring forward new treatment options, build on the body of knowledge and promote the understanding of pelvic floor disorders. Consequently, the healthcare costs will be reduced tremendously over a period of time.
Marc Beer has been in the company for the last five years and under his tenure, Renovia has achieved a lot. Moreover, he worked in OvaScience (Nasdaq:OVAS) as a strategic consultant. Recently, the Waltham biotech merged with Millendo Therapeutics, a company based in Michigan.
About Marc Beer
Marc Beer is a renowned executive with over 25 years of experience in development as well as commercialization in the biotechnology, device, pharmaceutical as well as diagnostic industries. Alongside Ramon Iglesias and Yolanda Lorie, Marc founded Renovia in 2016. Additionally, he successfully closed a Series A funding with leading healthcare venture capital funds.
In 2000, Marc Beer founded ViaCell (NASDAQ:VIAC), a company that specialized in the collection, development as well as preservation of umbilical cord blood stem cells. For the seven years he worked at the company, the company grew rapidly to become a robust commercial company. Under Marc Beer’s leadership, the company grew to have over 300 employees. In 2005, it went public and ultimately, it was acquired by PerkinElmer(NYSE:PKI). While he served as ViaCell’s CEO, he sat on the board of directors of Erytech Pharma. Prior to founding ViaCell, Marc held various executive positions in Genzyme. Generally, the BS holder from Miami University (Ohio) has held many other executive positions in different companies and organizations. Learn more : https://www.slideshare.net/MarcBeer