Renovia is a company that is involved in the design and development of devices for the diagnosis and treatment of pelvic floor disorder such as urinary incontinence. The company co-founded by Marc Beer has made public the fact that they have managed to get 42.3 million in financing for their upcoming clinical trials, corporate development, product development and launches. This funding was sourced in Series B equity and venture debt.
Working with a number of investment companies Perceptive Advisors and Ascension Ventures guided the Series B financing for Renovia with BayCross Capital Group serving as the advisor to Renovia. The investment companies included OSF Ventures Longwood Fund, Western Technology Investment, Inova Strategic Investments and Cormorant Asset Management.
Marc Beer who is a cofounder and CEO of Renovia is happy that the company has this particular group of investment companies helping in raising funds for this course. The company hopes to develop better methods of diagnosis and treatment for pelvic floor disorders. This will help a large number of women in the world that suffer from various pelvic floor disorders.
A combination of Renovia’s sensor technologies with a digital platform will ensure that better treatment programs can be developed and more knowledge can be gained on pelvic floor disorders. In the long run, it will be possible for treatment costs to become lower. Marc Beer sees the funding as a recognition of the value the technologies being developed by Renovia can produce for patients suffering from pelvic floor disorders.
The company beginning the year 2016 when the company was established has been working on a treatment solution for the 250 million women worldwide that suffer from urinary incontinence. Urinary incontinence is both psychologically and physically burdensome to these women. The company sees its current FDA-approved device which is made so that it isolates and directs the motion of the levator plate. This device makes it possible to provide treatment that is precise and saves on money.
Renovia has added to its management team by appointing Jessica McKinney, PT, MS to the position of Vice President of Medical Affairs and Clinical Advocacy, Samantha Pulliam, MD to the post of Chief Medical Officer as well as Jim O’Connor to serve as General Counsel for Renovia.
About Marc Beer
Marc Beer is the current CEO of Renovia and also serves as chairman on its board of directors. He is also one of the co-founders of the company. Before establishing Renovia Marc Beer has served on the board of Good Start Genetics and was the founding CEO at ViaCell. He still serves on the board of Minerva Neurosciences Inc. and s still a member of the Miami University Business Advisory Council. He has a Bachelor of Science degree from Miami University. Learn more: https://renoviainc.com/