Pelvic floor disorders affect hundreds of millions of women around the world every year; for example, urinary incontinence alone is estimated to affect about 250 million globally. However, one person who’s been aiming to help fight these disorders is Marc Beer, who founded Renovia Inc several years ago with the aim of improving women’s health care. Throughout this time, Mr. Beer has been focusing mainly on pelvic floor disorders. With Renovia Inc, he recently released what’s known as a Leva device, which was approved for use by the FDA in April of last year. This success has helped Marc Beer to go through another funding round, which netted the company $32 million in investments, as well as another $10 million in venture debt.
According to Mr. Beer, Renovia Inc will be using the funds to develop a new generation of Leva device, as well as three other products. However, because these other three projects were still early in development, he wasn’t able to release much information about them. It can be presumed, however, that some information was shared with potential investors to persuade them to invest in the company. The pitch ultimately worked, as both New York-based Perceptive Advisors and Missouri-based Ascension Ventures invested heavily in Renovia Inc. However, it’s not clear how much they both invested individually.
The Longwood Fund was also a part of the recent investment round; however, the medical technology related investment firm has worked with Marc Beer and Renovia Inc for the past few years and was one of the earliest investors in the MedTech company. Marc Beer has also noted that he was delighted to have each of the investors on board, as they each shared his vision and passion for improving women’s health care. Furthermore, he noted that each of the investors has a significant amount of expertise in this particular niche, which will help create a beneficial relationship between them. It should also help the new partnerships become more successful in the long term.
Mr. Beer also noted that Renovia Inc was helping to create a digital health platform will give our customers valuable data to inform new treatment options. According to Marc Beer and others, this should help to drive greater knowledge and understanding of pelvic floor disorders, and ultimately lower long-term healthcare costs. Because of that, the more advancements and innovations that are made in the medical world, the better it will ultimately be for patients. With this, Marc Beer and Renovia Inc have been looking to innovate as much as possible when it comes to the diagnostic and treatments tools available for pelvic floor disorders. Based on how well received the Leva device was, it looks as though they’re on the right track. Learn more: https://www.crunchbase.com/person/marc-beer