Marc Beer Of Renovia Holds Successful Series B Funding Round

Marc Beer has been in the pharmaceuticals business for more than 25 years. He is one of the co-founders of Renovia Inc. and is its chairman of the board and chief executive officer. His company is a startup that develops devices to treat pelvic floor disorders in women. He has worked for a number of other firms in the pharmaceutical industry in the past such as ViaCell, Genzyme, and Good Start Genetics, Inc. He is a graduate of Miami University which is in Oxford, Ohio.

Renovia recently held its Series B funding round. Marc Beer says that they were able to raise $32 million from this and also brought in another $10 million in the form of venture debt. He is planning on using this money to develop and test additional devices for the treatment of pelvic floor disorder as well as improve the device they now have on the market. There are three main types of this disorder which are a lack of bowel control, urinary incontinence, and pelvic organ prolapse. These disorders are caused by the bowel, bladder, and/or uterus “dropping” down onto the vagina and thus causing complications.

Marc Beer says that around 250 million in the world are afflicted by pelvic drop disorders. His company’s first product, Leva, was approved for use in the United States by the FDA in April 2018. Leva is a device that helps women train their pelvic muscles so that they become stronger. This device can help women avoid surgery and/or being on medications to treat their condition.

There were a few venture capital firms interested in investing in Renovia during its Series B round. Among these were Perceptive Advisors, Longwood Fund, and Ascension Ventures. Talking about this round of funding, Marc Beer said that he was very happy that some of the nation’s leading healthcare investors were interested in his company’s mission to improve the lives of millions of women around the world. He added that the money would also be used to improve their digital health platform which provides women with valuable data about their condition and the treatment options that exist for it.

During the course of his career, Marc Beer has been on a number of advisory boards. He has been on his alma mater’s Business Advisory Council and was once on the Research and Commercialization Advisory Committee for Notre Dame. He has also worked as a strategic consultant for other firms such as OvaScience. Learn more : https://www.slideshare.net/MarcBeer

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