Marc Beer, the co-founder, chairman, and CEO of Renovia, has announced that the company has successfully secured $42.3 million in funding from private investors. The money will be used to help further their work, including clinical trials, product development, and any commercial launches set for the future. Renovia specializes in developing therapeutic devices and diagnostic tools for treating pelvic floor disorders in women, such as urinary incontinence, and was co-founded by Marc Beer and other medical professionals.
Funding for Renovia’s work was granted by a number of different organizations, including the Longwood Fund, Inova Strategic Investments, and Western Technology Investment. Marc Beer has noted that the funding consists of $32.3 million in Series B funding, as well as $10 million in venture lending. Some of the investment groups have worked with Marc Beer and Renovia previously, while others are new. Learn more: https://gazetteday.com/2018/10/marc-beer-funding-renovia/
Marc Beer has commented that the funding will help the company deliver its goal of low-cost, highly-effective healthcare to women suffering from pelvic floor disorder, while ensuring that Renovia is able to commit to developing further technologies and products that will improve the quality of life for women struggling with these disorders. The funding also means that the company can commit to clinical trials to ensure proper research into these life-changing conditions can be carried out.
Renovia was co-founded by Marc Beer, Ramon Iglesias, and Yolanda Lorie in 2016 with the goal of better understanding women’s pelvic floor disorders and providing new strategies for diagnosis and treatment. The company has developed a cutting-edge, FDA-cleared device that assesses the movement and positioning of the levator plate in the pelvis, which helps provide feedback to the doctor and patient in real time, increasing the likelihood that treatment options will be successful. This device also offers the ability to collect actionable data on the patient’s progress.
Before taking on his vital position at Renovia, Marc Beer was also the founding CEO of the biotechnology company ViaCell, which specializes in preserving stem cells from umbilical cords. He has more than 25 years of experience in the fields of biotechnology, pharmaceuticals, and medical diagnostics. He has a Bachelor’s of Science degree from Miami University (Ohio).