Marc beer has set the pace in the biotechnology and pharmaceutical industry through his company, Renovia by raising $42 million in a bid to offer a better diagnosis and treatment for pelvic floor disorders including urinary incontinence, a condition that affects millions of people worldwide. It is unfortunate that a vast number of people who suffer from urinary incontinence condition find it hard to discuss it with family and friends, despite being a condition that is less diagnosed. All thanks to Marc Beer for venturing into finding a solution for this pelvic floor problem since it is an initiative that is going to be helpful to the suffering hundreds of millions of victims.
The funding, received from leading healthcare investors comprises of $32.3 million series B equity and an additional of $10 million of debt financing. The lead financiers include Ascension Ventures and Perspective Advisors with partnering organizations such as Inova Strategic Investments, Longwood Fund, Cormorant Asset Management, Western Technology Investment, and OSF Ventures. The total sum goes to undertaking clinical trials, developing pharmaceutical products, adding more corporate staff, and ensuring that Renovia’s commercialization plan come true.
Renovia is a company based in Boston and got formed in the year 2016. It deals in the marketing of the Leva Pelvic Digital System. The firm got approved by Food and Drug Administration (FDA), and apart from offering training on pelvic floor muscle, it also employs the use of visualization technology to check the response of urinary tissues in maintaining continence and is working on developing in-office technology for pelvic strengthening.
Renova’s successes have seen it expanding the employee base by recruiting a new team of high-ranking personalities in the fields of Chief Medical Officer, Vice President of Medical Affairs and Clinical Advisory as well as General Counsel. These well talented and experienced employees are all committed to achieving the company’s clinical and commercial vision.
More About Marc Beer
Marc Beer, apart from being the Co-Founder, Chairman and Chief Executive Officer of Renovia, he is a father and a husband. He is a graduate in the discipline of law from Lady Margret Hall in Oxford. Marc Beer has had over twenty-five years of experience in development and commercialization at biotechnology, pharmaceutical, device, and diagnostic industries. He started by practicing his law profession at the DIFC Courts, grew in the litigation industry and achieved a lot for the DIFC Courts. Despite all the achievement he decided to become his boss, and he continues to hit the headlines for the right reasons. Learn more: https://www.benzinga.com/pressreleases/18/08/r12237847/osf-ventures-invests-in-company-developing-solutions-for-pelvic-floor-