Renovia Inc. will carry on with the development of new drugs that are meant to combat pelvic floor disorders. This is after the company’s chief executive officer, Marc Beer, secured funding worth $32 million and another $10 million in the Series B round. Renovia, which is based in Boston, is in the development stages of a drug that will deal with the various diagnostic and therapeutic problems associated with pelvic floor disorders like urinary incontinence. According to researchers, urinary incontinence has affected more than 250 million women across the world. The Food and Drug Administration approved leva, which is Renovia’s first product in April of 2018.
The Longwood Fund was one of the early investors in Renovia also participated in the Series B round which was spearheaded by Perceptive Advisors, a company based in New York City, as well as Ascension Ventures. This funding will be directed towards the development and testing of more products for diagnosis and therapy, which also includes an advanced Leva device.
Renovia’s chief executive officer, Marc bee said that the company is thrilled to be supported by the leading healthcare investors who share in the vision to have better diagnosis, treatment, and improvement of millions of lives of women who battle the pelvic floor disorders every day. Marc further said that the company is combining the innovative and proprietary sensor technologies as well as form factors with a digital health platform. This will give the customers valuable data regarding new treatment options and contribute to greater knowledge and understanding of pelvic floor disorders, thereby reducing the long-term costs of healthcare.
About Marc Beer
Marc Beer is the co-founder of Renovia Inc. who also serves as the chairman and chief executive officer of the company. He has an experience that spans two and half decades in the areas of commercialization and development in pharmaceutical, biotechnology, diagnostic and device industries. Before founding Renovia Inc. Marc Beer served as the Chief Executive Officer at ViaCell, which is a biotechnology company that deals with the development, preservation, and collection of blood stem cells of the umbilical cord. Under his leadership, ViaCell grew to accommodate more than 300 employees.
Marc is the founding chairman of the board of directors and the chairman of the Good Start Genetics Compensation Committee. He is a committee member at the Minerva Neurosciences Inc. Audit Committee. He also sits at the Business Advisory Council of Miami University, his alma mater, and the Graduate Studies Research of Notre Dame.
Marc Beer built his experience by working in different companies before founding Renovia Inc. He has held different roles, one of which includes servicing the Biotechnology Industry Organization, Emerging Companies Board and so on. Marc Beer believes that successful healthcare must start with excellent talent acquisition. Learn more: https://www.linkedin.com/in/marcbeer