Marc Beer is a happy man in 2018. This follows the announcement that his Renovia Inc will receive another round of the funding. The amount that Marc Beer is expected to receive in this Series B funding is $32 million. An additional $10 million is going to the venture debt. This is not the first time Marc Beer’s medical startup is receiving funding worth millions of dollars. As the co-founder of a medical startup, Beer leads takes the lead in spearheading a company that deals with the development and commercialization of various enterprises that deal with pharmaceutical and biotechnological devices and diagnostics.
Beer’s medical and biotechnological company directs its efforts in developing practical medical and diagnostic devices that work towards the treatment of various urinary ailments that trouble women. Such urinary tract problems Renovia Inc finds solutions to include pelvic floor disorder, urinary incontinence, and several other related complications. According to the latest findings, such complications affect more than 250 million women worldwide.
During the initial funding, dubbed Series A, Renovia Inc received funding from Longwood Fund. This is one of the leading healthcare investing groups in the world today. Thanks to this initial funding, Renovia Inc was able to release its debut product, Leva. The Food and Drug Administration (FDA) approved this product in April 2018. Following the succession of Renovia’s first product, Beer is determined to press on to the production and testing of four more products. In a recent press statement, Marc Beer said that he is looking forward to producing a newer version of Leva.
The Series B funding comes from two other reputable companies. Missouri’s Ascension Ventures and The Perceptive Advisers, based in New York are contributing towards Renovia Inc’s Series B funding. Beer said that the money from the two companies will go a long way in marketing his remaining products. Learn more: https://www.bizjournals.com/boston/potmsearch/detail/submission/6457372/Marc_Beer
In showing his appreciation for their funding, Beer explained how thrilled he felt that he has partners that are interested in seeing his company meet its objective. Marc said, “We are thrilled to have the support of this group of leading healthcare investors who share our vision to better diagnose, treat and improve the lives of millions of women affected by pelvic floor disorders.” Mr. Beer went on to say that he values the collaboration he continues to receive from various healthcare stakeholders.
Marc Beer has more than 25 years of experience in the medical and biotechnology devices. He has worked for various healthcare service providers. One of the notable achievements under Marc’s belt is when he joined ViaCell. Marc joined this biotechnological firm in 2000. By the time he left, while presiding as the company’s Chief Executive Officer (CEO), the company had over 300 employees.