Renovia Inc is a Meditech company that was started two years ago in Boston. Within 24 months, the company has already made some significant progress in accomplishing its goals. It is tough for a startup in the biotechnology industry to pick up within a short time, but it is happening for Renovia since it enjoys great leadership from an experienced CEO, Mr. Marc Beer. Recently, he closed $42 million Series B funding round which will help in accomplishing its goal of coming up with advanced medical technology devices that can be used in treating pelvic floor disorders. The issue of pelvic floor disorders is something that Marc Beer is concerned about and wishes that he can create a solution that will help millions of women around the world affected by these conditions to get the right medication.
In 2016, Renovia was launched and immediately closed the Series A funding round. The funds acquired from this round went into the acquisition of the technology being applied today and the initial groundwork for the development of the company. Now that the company has found the foundation needed, it is time to move to the other level of growth. The Series B funding will go to the commercialization of products, clinical tests of new products and corporate development.
Investors are impressed by in the progress it has made in the first two years of its operation. Longwood Fund, a prominent healthcare investment company contributed to the Series B funding round. There were also other investors who contributed since they are encouraged by the promising technology that is being invented at Renovia Inc. The products of that have been lined up by the company to address the issue of pelvic floor health in women have impressed many investors who believe that it will be a successful initiative since we are heading into a baby boomer generation where such conditions are likely to become more prevalent.
Since Renovia was founded two years ago, it has managed to bring new products to the market. The most popular of these products is the Leva pelvic digital health system for women. It is a system that has been designed to help women with pelvic floor disorders to perform the correct pelvic floor strengthening exercises. Without correctly doing these exercises, women cannot achieve the intended solution. In fact, many pelvic floor disorders are attributed to poor methods used to improve the pelvic floor strength.
Marc Beer is the founder and CEO of Renovia. He is determined to accomplish every goal that the company has set out to achieve. The graduate of Miami University has spent 25 years in fields where he has dealt with pharmaceuticals, devices, biotechnologies, and others, and therefore has the requisite knowledge needed to succeed at Renovia Inc. Learn more: https://www.linkedin.com/in/marcbeer
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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.