Renovia is an FDA-cleared pharmaceutical company and a developer of an app-based system to manage pelvic disorders. Just the other day, it announced a $10 million debt financing and an additional $32.3 million from a fundraiser dubbed Series B. The fundraising event was graced by the attendance of numerous private investment funds that focus on health including, Cormorant Asset Management, Perceptive Advisors, Western Technology Investment, Ascension Ventures, OSF Ventures, Inova Strategic Investments, and Longwood Fund.
According to Marc Beer, the chief executive, and founder of Renovia, the partnerships between the company and the various stakeholders will play an essential role in developing efficient technologies in the health sector. The relationships will bring about innovations that will initiate understanding and improve knowledge on pelvic floor disorders, which will eventually reduce the high costs of healthcare. Marc was confident that the funding would go a long way in helping in developing new products as well as digital therapies to treat pelvic disorders like urinary incontinence.
Also, the money raised will be put toward corporate development, supporting future commercial launches, clinical trials, and expansion of the firm’s product pipeline. Recently, Renovia launched Leva Pelvic Digital Health System which is used hand-in-hand with a smartphone application. It also introduced into the market the EmbaGYN Pelvic Exerciser, a device that guides patients through several routines to strengthen the muscles required to maintain continence. Also, the device collects progress and compliance information for later use.
Renovia started its operations in 2016, and it continues with its quest to develop other platforms to help in pelvic disorder diagnosis and therapy. At the beginning of the year, the company made several necessary appointments to bolster its leadership team. Jessica McKinney was brought on board as VP of clinical advisory and medical affairs, Jim O’Connor as general counsel, and Dr. Samantha Pulliam as the head medical officer.
Other than his duties and roles as the chairman of Renovia, Marc Beer is a board member and expert consultant for several health companies. He has previously served in the board of Good Start Genetics, Miami University Business Advisory Council, and Minerva Neurosciences. Today, he sits as the chairman for ERYtech and works as a consultant for OvaScience.
Marc Beer is a graduate of the prestigious Miami University and holds a degree in science. After graduating, Marc wasted no time in joining the health sector and has over the years enjoyed successful employment stints working for corporations like Abbott Laboratories. While still as an employee, Marc served in various leadership capacities including the VP for Genzyme. Marc was also the founder of Viacell, a specialty biotech firm that collected, preserved, and developed blood stem cells; he would later sell the company to PerkinElmer. Learn more: https://www.bloomberg.com/research/stocks/people/person.asp?personId=1285777&privcapId=47636573