Renovia Inc., announced that it is set to move forward with its several new products after Marc Beer closed a $32 million Series B round and $10 million in Venture debt. Renovia Inc. is a startup based in Boston and co-founded by the former Aegerion Pharmaceuticals CEO.
The medtech company is looking to develop a number of diagnostic and therapeutic products for treatment of pelvic floor disorders including urinary incontinence in women. Researchers have estimated that over 250 million women across the world suffer from urinary incontinence. Renovia has made incredible progress with its Leva receiving FDA approval early last year.
The Longwood Fund joined the Series B round led by Missouri-based Ascension Ventures and New York-based Perceptive Advisors. Longwood Fund is a healthcare investment firm which invested early in Renovia Inc. The money has been used by Renovia to develop and test four more therapeutic and diagnostic products inclusive of a new generation of the Leva device.
Marc Beer said in a statement that he was thrilled to receive the support of a group of leading healthcare investors who have the same vision to better diagnose, treat and elevate the lives of women across the world who are affected by pelvic floor disorders. The company combines innovative and proprietary sensor technologies as well as form factors with a digitized platform to give its customers valuable date that informs new treatment options, drive greater understanding and knowledge of pelvic floor disorders. The efforts will eventually lead to reduced healthcare cost in the long-term.
Marc Beer has an extensive experience working in big healthcare companies and pharmaceuticals including OvaScience where he served as a strategic consultant. The company had expressed merger interests with Michigan-based Millendo Therapeutics.
About Marc Beer
With over 25 years of experience, Mr. Beer centered his career on development and commercialization in biotechnology, devices, pharmaceuticals and diagnostics. He founded Renovia along with Ramon Iglesias and Yolanda in 2016 and secured funding by successfully closing a Series A financing. Mr. Beer became the founding Chief Executive Officer of ViaCell, a biotechnology company which focused on the collection, development and preservation of umbilical cord blood stem cells. The company grew rapidly under his tenure to have over 300 employees and went public in 2015.
He served at jErytech Pharma as a member of board of directors. He held various capacities in Genzyme including vice President of Global Marketing. Prior to that, he served in various sales and marketing positions at Abbott Laboratories. He was a member of the Mass Life Science Board of the Commonwealth of Massachusetts as well as Biotechnology Industry Organization. Beer served as a founding chairman of Good Start Genetics’ compensation committee. He holds various capacities at Minerva Neurosciences Inc., Additionally, he is a member of Miami University Business Advisory Council and Notre Dame Research and Commercialization Advisory Committee aas well as Notre Dame Graduate Studies Research and Advisory Council. Marc Beer holds a BS degree from Miami University. Learn more: https://ideamensch.com/marc-beer/