Starting a company in today’s competitive biotech industry deserves a high degree of skill to do research, financing and the approval for new therapies from the FDA, Food and Drug Administration. Renovia Inc. is one of the companies that started through the mentioned processes in August 2016 during its foundation by Marc Beer. The company that operates from Boston raised funds through Series A round and used the money to finance the technology of fighting pelvic floor disorder from another company. The problem faces over 230 million women worldwide, but Renovia continues to look for ways of helping the affected women. Its first product to get approval from FDA was Leva device in April 2018.
Marc Beer successfully organized the series B funding that took place on August 21, 2018, that raised $32.3 million in equity and $10 million in venture funds making a total of $42.3 million. According to the company’s management, the funds would go into diagnostic analysis and development of four more products on top of leva device. The company also intends to upgrade its leva pelvic health digital system through the funds and cater for clinical experiments, corporate development, and improvement of the production system and launching of products. New York’s Perceptive Advisers is one of the Renovia’s business partners that stood with Renovia. Ascension Ventures that work from Missouri participated in the process, and Marc Beer thanked the two among other health companies supporting such health initiatives.
Apart from boosting the treatment and diagnostic systems, Renovia Inc. plans to use some of the funding to promote the leva device. Leva device comes with a Bluetooth and an app for generating coaching schedules, and real-time visualization. The primary functions of the invention are to control the linear optimized moving patterns and to sort out the weak leva plate muscles. Besides, the company would come up with more wearable devices and other innovative diagnostic materials and clinical procedures. The millions of women suffering from pelvic floor disorders undergo painful sessions of urinary incontinence, frequent urination, pain pressure, and problems of emptying the whole bladder after urination and painful intercourse.
Marc Beer points out that the new digital platform would help the patients’ access to more data covering the new methods of treatment, basic knowledge, and the way of lowering treatment costs. Marc Beer has the expertise of 25 years in sales, development, biotechnology, and management having worked in recognized companies like Viacell and Abbott laboratories. In Viatell, Marc worked in the control of the company, and he oversaw the overall study of the human cells to come out with the desired cures. His idea of starting Renovia was to help the women access quality care through the latest technology at affordable prices through the Leva Pelvic Digital Health System. Learn more: https://www.bizjournals.com/boston/news/2018/08/21/ex-aegerion-chief-beer-raises-42m-for-womens.html