Women who suffer from pelvic floor disorders finally have a reason to smile, especially after Renovia Inc. announced the close of $42.3 million financing. This included the $32.3 million in the Series B equity and another one for $10 million in venture debt. Renovia Inc is a company that is keen on discovering and also delivering devices for women suffering from pelvic floor disorders. It was co-founded by Marc Beer along with Ramon Iglesias and Yolanda Lorié. The proceeds from the funding will go a long way to support the company’s product development pipeline, clinical trials, its development as well as future commercial launches.
The Series B financing was led by Perceptive Advisors and Ascension Ventures. Other companies in attendance included Inova Strategic Investments, Longwood Fund, Cormorant Asset Management, OSF Ventures and also Western Technology Investment. BayCross Capital Group was an advisor to Renovia Inc.
In a statement, Renovia Inc CEO Mr. Marc Beer said that they were thrilled by the king of support they received from a group of renowned healthcare investors with the same vision of better diagnosing, treating as well as improving the lives of millions of women in the world suffering from pelvic floor disorders. He added that the presence of the new and existing financial investors along with the three leading integrated health networks whom the company can partner with is in line with Renovia’s clinical as well as commercial vision.
He said that combining the company’s innovative and proprietary sensor technologies and the forming factors with a digital health platform will ensure that customers get accurate data and open ways to new treatment options. This will also help drive great knowledge and understanding of these disorders and hence lower long-term treatment costs. The funding recognizes the incredible value of Renovia’s innovative digital therapeutic as well as diagnostic product pipeline that is soon set to be brought to the treatment of pelvic floor disorders such as urinary incontinence.
Research shows that Urinary incontinence is a global condition that affects more than 250 million women the world over. Since its inception in 2016 Revonia Inc has been very vocal and committed to developing a product line diagnostic potential and therapeutic product for curing these disorders and restoring the health of the affected women. The company’s first product called Leva was cleared by the FDA last April.
About Marc Beer
Marc Beer is the co-founder and CEO of the Boston Based Biotech startup Renovia. He has extensive skills and expertise to lead this company. In the past, Mr. Beer worked in the business sales, development and also in pharmaceuticals for a whopping 25 years. He even worked in a number of sales roles with Abbott laboratories.
Later on, he founded ViaCell, a successful company that uses human cells for curing uncommon diseases. Ever since he was in college, he was concerned with the health issues of women and best solutions. To date, even as he is CEO, he is making the dream a reality. Learn more: https://www.bizjournals./boston/news/2018/08/21/ex-aegerion-chief-beer-raises-42m-for-womens.htmlcom