Marc Beer closes $32 million in Series B round as well as $10 million in venture debt for Renovia Inc., a women’s health start up. The money will go into development of new products for pelvic floor disorders treatment.
The company is specialized on the development of therapeutic and diagnostic pelvic floor disorders treatment products. Urinary incontinence is a type of pelvic floor disorders that affects more than 250 million women globally. The company has been looking to improve women’s lives though the products and the leva device approval in April is a testament to its achievements so far.
The Longwood Fund took part in the Series B round financing. The Longwood Fund has been an active player in the sector with an early investment in Renovia Inc., The Series B round of financing was overseen by two firms: Ascension Ventures and Perceptive Advisors. Renovia is now set to move forward with its plan to develop four more products including a new version of the leva device.
Marc Beer said in a statement that he was pleased by leading investors in the healthcare sector who came to support him and his company. The investors believed in Renovia’s course of looking for the cure for pelvic muscle disorder and improvement of the lives of women with the disorder. He said that they combine sophisticated technologies, form factors, platforms and other resources to provide data that will build on the body of knowledge, inform better treatment options and reduce healthcare costs in the long-run.
Beer has built a noble career in the healthcare industry leading prominent companies and helping companies to grow. He worked at OvaScience as a strategic consultant. The company merged with Millendo Therapeutics recently.
About Marc Beer
Marc Beer has over 25 years of experience in development and commercialization in pharmaceuticals, biotechnology, devices as well as diagnostics. He co-founded Renovia Inc. alongside Ramon Iglesias and Yolanda Lorie in 2016. To start the company off, he closed Series A round successfully. Beer founded and became the CEO of ViaCell in 2000. While serving at ViaCell, he was also a member of the board of directors of Erytech Pharma, a biopharmaceutical company where he grew to become Vice President of Global Marketing.
He played marketing and sales roles in the pharmaceutical as well as diagnostic divisions of Abbot Laboratories. He served in the Mass Life Science Board of the Commonwealth of Massachusetts as well as Biotechnology Industry Organization Emerging Companies Section Governing Board. He is a founding chairman of Good Start Genetics as well as Minerva Neurosciences Inc., and its various committees. He sits in the Miami University Business Advisory Council as a member. Moreover, He holds a BS degree from Miami University (OHIO). Learn more: https://ideamensch.com/marc-beer/