Boston-Based Medtech Company Renovia Raises $42 Million

Renovia Inc., is a startup established in the summer of 2016 by Ramon Iglesias MD, Yolanda Laurie, and the Chief Executive Officer Marc Beer. The company successfully closed a Series A round of financing in 2016 with leading healthcare venture capital funds, and recently this year, the company announced the closing of a $32 million Series B round, along with the sum of $10 million in venture debt. The new funds will allow the company to move forwards with a number of new products designed to fight against pelvic floor disorders. The Series B round got led by the New York-based firm Perceptive Advisors and the Missouri-based firm Ascension Ventures, and it also included participation from The Longwood Fund, an investment firm focused on the healthcare sector that invested in Renovia early on.

 

The medtech company based in Boston is currently developing various diagnostic products and therapeutic products that aim to treat pelvic floor disorders – such as urinary incontinence, which affects 250 million women across the globe, according to researchers. The company’s first product entitled Leva, received the approval from the Food and Drug Administration back in April of this year, and the funding will go toward the development and testing of 4 more therapeutic and diagnostic products, which includes a new generation of the Leva device.

 

The CEO, Marc Beer made a statement about the new round of funding and expressed excitement over the support that Renovia received from leading healthcare investors who are sharing the company’s vision when it comes to better diagnosing, treating, and improving the lives of millions of women who are affected by pelvic floor disorders. Beer also pointed out that combining a digital health platform with Renovia’s sensor technologies and form factors will give their customers data which will inform new treatment options, drive greater understanding of the pelvic floor disorders, and will ultimately lower long-term health care costs.

 

Prior to helping co-found Renovia, Marc Beer already had a reputation within the healthcare sector, having served under various roles for a number of companies in the industry. He brings to the table over 25 years of commercialization and development experience in diagnostics, biotechnology, devices, and pharmaceuticals. One important part of his career that helped build his reputation was his 7-year stint at ViaCell. He became Founding CEO of ViaCell in April 2000, and under his leadership, the company became robust commercial organization. During his 7-year stint with the company, ViaCell increased its size to over 300 employees, became publicly traded in 2005, and was purchased by PerkinElmer in 2007. During his career, he also worked under various roles with companies such as Erytech Pharma, Genzyme, Abbott Laboratories, Minerva Neurosciences, Good Start Genetics, and more.

Learn more: https://www.linkedin.com/in/marcbeer