Based in Boston, Renovia Inc. raised $42 in 2018 million through venture debt and Series B round of funding. $10 million was raised through venture debt while $32 million was raised through the Series B round. The Longwood Fund joined the Series B round led by Ascension Ventures and Perceptive Advisors. The investment firm focuses on healthcare startups and was among the first firms to invest in Renovia Inc. when it started. In a statement released by Renovia Inc. the CEO of the company, Marc Beer, expressed his gratitude towards all who had made the fundraising drive a success.
Renovia Inc. is a medtech company working on several diagnostic and therapeutic products aimed at helping over 250 million women affected by pelvic floor disorders globally. The firm will channel some of the raised funds towards the development and testing of the new generation of the Leva device. The Leva device is the first product from Renovia Inc. to receive FDA approval. Additionally, the company will also develop and test four more diagnostic and therapeutic products for pelvic disorders such as urinary incontinence.
Using the funds raised, Renovia Inc. is also looking forward to offering women worldwide data to inform new modes of treatment to reduce the cost of healthcare in the long term. The firm intends to do this through a digital health platform whose objective is to offer greater insights into pelvic floor disorders. The digital platform will be a combination of Renovia Inc.’s patented innovations in form factors and sensor technologies.
Marc Beer holds a BS from Miami University. He is skilled in business strategy, senior executive leadership, and biotechnology. At Renovia Inc., Marc Beer serves as the Chairman of the Board of Directors and the CEO of the healthcare company. With more than twenty years spent in the development and commercialization of products in the biotechnology, diagnostics, devices, and pharmaceutical industries, Marc Beer is looking to make the company a success just as the other companies he has worked with before.
Before co-founding Renovia Inc., Marc Beer worked with companies such as LumeNXT where he was the Chairman and Co-founder of the company. LumeNXT is a privately held surgical device company working on minimally invasive and clinically valuable solutions using LED lighting to illuminate multiple surgical sites using standard operating room instruments without the need for a surgical outlet.
Marc Beer has also served as the Chairman of companies such as Minerva Neurosciences, Myolex (Skulpt) and Good Start Genetics. Minerva Neurosciences develops and commercializes product candidates aimed at treating central nervous system diseases. Myolex specializes in neuro-muscular diseases through the development and validation of muscle assessment devices while Good Start Genetics focuses on the use of information solutions to grow families by using best-in-class genetics. Some of the other companies Marc Beer has worked with include ViaCell, Genzyme, Biostar, and Abbott. Learn more: https://www.prnewswire.com/news-releases/lumenxt-names-marc-beer-chairman-of-the-board-300822547.html