In August 2018, Marc Beer’s Renovia Inc. announced that it had generated over $ 42 million in its series B financing. The financing was led by Ascension Ventures, an investment firm that funds and develops innovative start-ups.
Also, the financing was led by Perceptive Advisors, an investment firm that has been supporting multiple start-ups in the world’s life sciences industry. Longwood Funds, a renowned healthcare investor also supported the series B financing. Additionally, other new investors took part in the round, a confirmation of Renovia’s promising future in medical devices development and commercialization.
How will the financial backup help Renovia Inc.?In line with Renovia Inc.’s announcement, the finances would help it complete the development of its diagnostic and therapeutic tools that were under improvement. The funds will also aid in corporate development, new research, and clinical trials for the products in the company’s pipeline.
Besides developing the therapeutic solutions, Marc Beer, the CEO of Renovia Inc. said that the funds could help them develop a digital health platform that could improve the management of pelvic floor disorders. The futuristic platform could generate critical information used to invent new treatment options and serve as a knowledge base for pelvic floor disorders.
These developments could help Marc Beer’s start-up to accomplish its mission of helping thousands of women that are living with various pelvic floor disorders. Moreover, the technological developments would reduce the long-term healthcare expenses used to manage the pelvic diseases.
Already, Renovia Inc. has developed Leva, an FDA approved diagnostic tool that prevents Urinary Incontinence by strengthening weak pelvic floor muscles. Leva is an app based device which guides patients on the proper way to carry out exercises aimed at strengthening weak pelvic floor muscles. The therapeutic tool could potentially substitute the conventional surgical procedures used in the management of pelvic floor disorders.
Speaking after the fundraising event, Marc Beer said that he was thankful for the financial back-up accorded by the prominent healthcare investors. “It shows that they are thrilled by our mission of improving the lives of women suffering from pelvic floor disorders,” added the chief executive officer. Learn more: https://www.crunchbase.com/person/marc-beer
Marc Beer is a respected figure in the world’s healthcare sector. Before co-founding his women’s health start-up, he worked as the founding CEO of ViaCell. During his tenure, Marc helped the biotechnology company to develop from a young start-up to a large commercial organization.
Apart from ViaCell, Marc Beer worked as a senior administrator of Genzyme. He was in charge of launching the biopharmaceutical company’s products to the global market. Genzyme focused on developing therapeutic products used in the management of rare diseases. Marc Beer has also served leading pharmaceutical and biotechnology companies like Abbot Laboratories, Good Start Genetics Inc., and Notre Dame Graduate Studies Research and Advisory Council.