The medical technology company, Renovia Incorporated, is developing innovative digital devices to help women overcome conditions associated with pelvic floor disorders. The company’s chief executive officer and co-founder, Marc Beer, announced in August 2018, that the company has closed a Series B round of funding for $32 million. Additionally, Beer disclosed that Renovia has acquired $10 million in venture debt. These funds will go toward developing new products to diagnose and treat pelvic floor disorders in women.
Renovia’s currently-marketed device, the Leva®, gained approval from the Federal Drug Administration in April 2018. The Leva® is an electronic device that works in conjunction with a mobile telephone app to monitor strength-training pelvic floor exercises. Renovia will use funds to develop a new generation of this device as well as develop and test four additional therapeutic and diagnostic devices. A major contributor to Renovia’s Series B round is the Longwood Fund, an investing firm that focuses on healthcare ventures. Perceptive Advisors, a New York-based company, led the round.
Marc Beer stated that Renovia is thrilled about the support from these leading healthcare investors. He notes the shared vision of all parties to better diagnose and treat pelvic floor disorders which affect an estimated 250 million women globally. Beer expects to combine Renovia’s innovative, proprietary sensor technologies with digital platforms to develop monitoring devices used to gain a better understanding of these women’s conditions. Ultimately, Beer hopes that the resulting gathered data and knowledge will lead to new treatment options and lower costs associated with treating these disorders.
In August 2016, Marc Beer, along with partners Ramon Iglesias, M.D. and Yolanda Lorié, obtained Renovia’s Series A round of funding. Beer has more than 25 years experience in the development and commercialization of pharmaceutical devices, diagnostics, and biotechnology. Much of his experience is in the fields of stem cell and genetic disorder technologies.
In 2000, Beer founded ViaCell and served as chief executive officer of this biotechnology company. ViaCell specialized in collecting, preserving, and developing umbilical cord blood stem cells. In seven years, Beer grew the company to employ more than 300 workers. He took the company public in 2005, and in 2007 PerkinElmer acquired ViaCell.
Marc Beer has also sat on many boards of directors including Erytech Pharma, Genzyme, and Good Start Genetics Incorporated. Erytech is a bio-pharmaceutical company, Genzyme targets rare diseases worldwide with its products, and Good Start Genetics offers genetic disorder screening. Additionally, Beer has held positions in sales and marketing for Abbott Laboratories and past and present seats on various committees. Learn more: https://ideamensch.com/marc-beer/