Co-founder and CEO of Renovia Inc., Marc Beer is going forward with continuing their funding for new products for women’s pelvic floor disorder, such as incontinence. Researchers estimate that urinary incontinence currently affects about 250 million women globally. It is estimated that women far outnumber men by it by as much as 53 percent although it is not completely certain. Even so, experts think it’s underreported because too many who suffer from it are too reluctant or embarrassed to discuss the issue even with their doctors. One of the main things that Renovia does is target the muscles responsible for maintaining bladder and bowel control.
Leva, one of Renovia’s inventions reached FDA approval last April. This decision was made after the closing of a $32 million round with Series B on late August 21, 2018. The company also had a $10 million venture debt to tackle. So far, about $42 million has been raised for the new project. What Leva does is monitor the vaginal muscles at rest and at work during pelvic floor exercises. This takes less than five minutes and is usually recommended to be done twice a day.
Renovia’s Series B was partly funded by a healthcare-based investment firm called the Longwood Fund. Series B was also led by Missouri-based Ascension Adventures and New York-based Perceptive Advisors. The continued funding is now going towards testing for more therapeutic products, including a new version of Leva. This new version will make the patient able to wear it for extended periods of time. It is expected to work as a kegel exercise for stress incontinence.
Marc Beer stated that Renovia is enamored to have the support of leading investors who share their vision of making life better for women with pelvic floor disorders. In helping to make innovative products for such disorders, Beer and Renovia are hoping that it will eventually become easier to inform the public of new treatment options and lower healthcare costs for it. They plan to do so by installing digital form factors and innovative sensor technologies.
Marc Beer has a total of 25 years of experience in commercialization of diagnostics, pharmaceuticals, biotechnology, and devices. Renovia was established in August 2016 when it closed a Series A in financing with venture capital funds. Beer has helped found and lead other companies as well. Another is ViaCell, which focuses on stem cells from umbilical cords. Under Beer’s leadership, it grew to over 300 employees, went public by 2005, and then was acquired by Perkinelmer in 2007. Before ViaCell, Marc Beer also held various positions within Genzyme. The most recent was Vice President, with which he was responsible for public launches of numerous products addressing the needs of rare diseases. Learn more : https://www.slideshare.net/MarcBeer