Renovia and CEO Marc Beer Raise $42 Million

Renovia Inc., a medical technology startup, recently announced along with Chief Executive Officer and co-founder Marc Beer, that the company will move forward with plans to develop a series of new products designed to help people deal with disorders that affect their pelvic floor. This news follows the closing of the company’s $32 million Series B offering, in addition to their $10 million venture debt.

 

The company which is headquartered in Boston, Massachusetts, has a pipeline of products for the diagnosis and therapy of various pelvic floor disorders such as urinary incontinence, which many researchers believe to be affecting at least 250 million women across the globe. The company’s initial product, Leva, received approval from the Food and Drug Administration in April.

 

Renovia received financial backing early on from The Longwood Fund, an investment firm which is heavily focused on health care. Longwood also invested and the company’s Series B round offering which was led by the Missouri based Ascension Ventures and New York’s Perceptive Advisors. The funding the company received from the Series B will be utilized in the development and testing of four additional products designed to aid in the diagnosis and provide therapeutic treatment for pelvic floor disorders. One of these products is the next generation of the Leva device mentioned earlier.

 

The company’s CEO Marc Beer stated that the company was thrilled by the level of support they were receiving from many of the foremost healthcare financiers. The company was gratified to see these investors share the company’s vision of better ways to treat, diagnose, and increase the quality of life for the many millions of women suffering from pelvic floor disorders. He went on to say that the company will utilize innovation with their proprietary sensors to provide valuable data to customers they can use to help determine the best treatment options. He also believes this technology can be used to increase the understanding of disorders affecting the pelvic floor, and eventually reduce the cost of long-term health care.

 

Marc Beer learned a bachelor of science degree from the University of Miami, in Ohio. He serves as a member of the Miami University’s Business Advisory Council and previously served as a member of the Notre Dame Research and Commercialization Advisory Committee as well as the Research and Advisory Council for Graduate Studies.

 

Mr. Beer was previously the CEO of ViaCell, a company in the biotechnology sector that specializes in collecting, preserving, and developing stem cells derived from umbilical cord blood. He was the company’s leader from inception through a period of rapid growth and development. While he served as CEO of the company it continued to grow in size to over 300 employees. Learn more: https://www.bizjournals.com/boston/potmsearch/detail/submission/6457372/Marc_Beer