Renovia Inc. has plans in place to provide various products for pelvic floor conditions after reaching a Series B round of $32 million. The company under the leadership of former Aegerion Pharmaceuticals Chief Executive officer, Marc Beer, has also set up a whopping $10 million in business debt.
Renovia Inc. whose headquarters are in Boston is a medical and tech firm focused on various diagnostic and therapeutic products that help treat pelvic floor health disorders such as urinary incontinence. This condition affects over 250 million women globally according to research studies. The company’s initial product known as Leva was approved by the FDA in April 2018.
The Series B round received a boost when a healthcare-focused investment firm known as Longwood Fund joined the course. The Series B round was led by Ascension Ventures based in Missouri and Perceptive Advisors who are based in New York. The fund is meant for testing and developing four other therapeutic products including the new generation Leva device.
Marc Beer expressed his satisfaction with the support he receives from the group containing leading healthcare investors whom together with share a common vision of improving the lives of many affected women with pelvic floor disorders. By combining their proprietary sensor technology and innovation together with form factors and digital health platforms, customers are able to receive invaluable data to be well informed on treatment options. Additionally, they will be knowledgeable and understand pelvic disorders, ultimately lowering costs related to long-term healthcare.
Since Marc Beer left Aegerion in 2015, Renovia is his first venture. His five-year tenure involved the development of a drug for treating high cholesterol conditions. He served as a strategic consultant for OvaScience (Nasdaq: OVAS), a company that announced its merger with the Michigan-based Millendo Therapeutics.
Marc Beer has more than 25-years’ experience in development and commercialization of biotechnology, devices, diagnostics and pharmaceuticals. Together with Ramon Iglesias and Yolanda Lorié, Marc founded Renovia in August 2016. Additionally, he managed to close a Serie A financing alongside leading healthcare business capital funds. He also became the Founding CEO of ViaCell, a biotech company that specializes in the collection, storage, and development of stems cells from umbilical cords, in April 2000. Since then, he has managed to steer the company to a robust commercial organization with more than 300 employees. After going public in 2005, the company was acquired by PerkinElmer in 2007. Learn more: https://people.equilar.com/bio/marc-beer-aegerion-pharmaceuticals-/salary/78453
Marc Beer also served on the board of directors of Erytech Pharma while still the CEO of ViaCell. However, prior to this, he had held different positions within Genzyme and as Vice President of Global Marketing. He was responsible for overseeing the commercial launch of various products that deal with rare disease conditions worldwide. Additionally, he Marc Beer is the Founding Chairman and leader of the compensation committee for Good Start Genetics Inc. besides, he is the founder and chairman of the Minerva Neurosciences Inc.