Marc Beer’s Renovia Raises $42 Million After Series B Round

Marc Beer has an experience of 25 years as a seasoned executive when it comes to the commercialization and development in the pharmaceutical, diagnostic, and biotechnology industries. He earned a B.S. from Miami University. For 7 years, since the company’s inception, he held the role of founding Chief Executive Officer at ViaCell, which is a biotechnology company that specializes in both collecting and preserving blood stem cells from umbilical cords.

 

 

In addition, he had various titles within Genzyme, which is a specialty care company that aimed to develop treatments for diseases which are difficult to both diagnose and treat. He was also the strategic consultant of OvaScience, a biotech company which is publicly traded company, and that announced a merger with Milendo Therapeutics (Michigan-based). His long resume also includes his work with Abbott Laboratories, where he helped with the promotion of the pharmaceutical and diagnostic divisions. He founded Good Start Genetics, Inc., a molecular diagnostics company, where he acted as the chair of the company’s compensation committee. The company got purchased by Invitae, and now focuses on genetic tests for pediatric and adult inherited conditions.

 

 

In 2016, Marc Beer alongside Yolanda Lorié, and Ramon Iglesias founded Renovia in Boston, Massachusetts. The startup aims to develop a number of products designed for pelvic floor disorders, closing their Series B round at $32 million, with $10 million in venture debt. The Boston-based company is addressing issues like urinary incontinence by trying to develop various therapeutic and diagnostic products. Research shows that approximately 250 million women around the globe are affected by urinary incontinence. Leva, the first product developed by Renovia, has already been approved by the FDA in April.

 

 

The Longwood Fund is an early investor in the Renovia startup, being an investing firm which is focused on the healthcare industry. The Longwood Fund have joined the Series B round, the round being led by Perceptive Advisor (a company based in New York) , and Ascension Ventures (a company based in Missouri). The new round of funding will go towards both the development and the testing procedures of 4 new therapeutic and diagnostic products, which includes a new generation of Leva.

 

 

Marc Beer declared in a statement that Renovia is thrilled to have the support of healthcare investors who are sharing the same vision as the company to improve the lives of women affected by the disorders with better diagnosis and treatment. He also noted that the combination of their form factors and sensor technologies with a digital health platform will offer the customers important data in order to inform about new treatment options, and drive greater understanding about pelvic floor disorder, with the ultimate goal being lowering healthcare costs in the long term. Learn more : https://renoviainc.com/leadership/

 

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