CEO Marc Beer Announces The Results Of Renovia’s Series B Round

Marc Beer is a co-founder of Renovia as well as its chairman of the board and chief executive officer. His company is in the biotechnology industry and is focused on creating products to treat women’s pelvic floor disorders, a condition that impacts 250 million women around the world. Renovia was established in 2016 in the greater Boston area and is still in the early stage venture phase.

In late August 2016, Renovia held its Series B round of funding. Marc Beer says that they successfully raised $32 million during this round of funding and also collected another $10 million in venture debt. The three venture capital firms that took part were Missouri-based Ascension Ventures, New York-based Perceptive Advisors, and Massachusetts-based Longwood Fund. Longwood Fund had previously invested in Renovia while the other two financial firms were newcomers.

Marc Beer says that the money that was raised during the Series B round would go toward developing and testing four products they have in their pipeline. They would also be using the money to further develop their existing device for pelvic floor disorder, Leva. He said that he and his team were very happy to be supported by these healthcare-focused investors who are partners in creating a better way to diagnose and treat pelvic floor disorder.

Renovia creates medical devices that use proprietary sensor technology to treat pelvic floor disorder. They also have an online health platform where women can find information about their condition such as what new treatment options are available to them. With women having greater knowledge of their condition Marc Beer says that this will lead to lower long-term health care costs for them.

Pelvic floor disorder leads to urinary and/or fecal incontinence. This condition occurs when a woman’s bladder, bowel, and uterus drop down onto their vagina and cause it to bulge. When a woman has this disorder her muscles are contracted rather than relaxed and if they don’t receive treatment for this condition it can lead to colon damage and infections.

Marc Beer has been in the healthcare industry for over 25 years. His skills included developing and commercializing medical devices used to treat a number of different conditions. The business partners he established Renovia with were Dr. Ramon Iglesias and Yolanda Lori√©. Marc Beer had previously founded ViaCell in April 2000 and was this company’s CEO. ViaCell is a business that collects, preserves, and develops umbilical cord blood stem cells to treat various diseases. Under his leadership, ViaCell held an initial public offering in 2005 and was purchased by PerkinElmer in 2007. Learn more:¬†https://www1.salary.com/Marc-Beer-Salary-Bonus-Stock-Options-for-AEGERION-PHARMACEUTICALS-INC.html