Founded in 2016, Renovia is a company that designs and creates medical equipment dedicated to diagnosing and treating women with pelvic floor issues, generally leading to incontinence. Marc Beer, along with Ramon Iglesias, and Yolanda Lorié, is a co-founder of the Boston-based company.
On August 21, 2018, the company announced that a second series of equity lending and venture debt capital had ensued, leaving the medical venture with an additional 42.3 million with which to fund clinical trials, ongoing corporate developments and slated design-to shelf activities.
New, as well as prior contributors, participated in the second round of Renovia’s fundraising efforts, all of whom are in alignment with the medical provider’s vision to make life more bearable for an estimated 250 million who live with urinary incontinence issues, worldwide.
The Longwood Fund, in specific, was a major contributor to the series B funding cycle instituted by the medical company. Another investor in Renovia, OSF Global Services, was one of 6 venture groups that afforded themselves of the opportunity to invest in the medical venture.
Stan Lynall, VP of Venture Investments for OSF HealthCare, expressed pleasure in the funding decision, stating in regards to Renovia’s work for pelvic-floor dysfunction, “We’re excited to invest in a company working on a variety of products to positively impact this worldwide issue.”
Renovia Co-founder, Marc Beer, was particularly enthused about the latest funding cycle, expressing a belief that new treatment options could be on the horizon for millions of women potentially impacted by Renovia products. One such product, already FDA approved and brought to fruition from research made possible by sponsored monies, is the leva® system kit. Designed to treat women with stress-incontinence and moderate urgency, the product contains a device to provide e-stimulation meant re-train weakened muscles, thereby alleviating leakage.
Other pluses, Beer envisions as coming down the pipeline, include an improved understanding of pelvic-floor dysfunction and a long-term reduction in healthcare costs. These improvements, according to Marc Beer, have the potential to materialize due to an alignment of factors, specifically in the “Combining(of) our innovative and proprietary sensor technologies and form factors with a digital health platform.”
Marc Beer has a quarter-century of experience in the fields of pharmaceuticals, biotechnology and diagnostics. Before becoming the current CEO and chairman of Renovia he worked at Good Start Genetics and Minerva Neuroscience, rising to the level of Chairman in each of the two companies. Learn more: https://renoviainc.com/