Renovia Inc. Generates $42.3 Million during Its Series B Financing

Marc Beer established Renovia Inc. with the aim of inventing efficient, and cost-friendly diagnostic tools used to manage a range of pelvic floor disorders.

Presently, the start-up has a product pipeline of diagnostic tools that train weakened pelvic floor muscles. Into the bargain, the start-up has advanced data management tools and apps that generate informed diagnostic assessments.

 

On August 2018, the start-up’s chairman and chief executive officer announced that they had acquired $42.3 million from their series B financing. $32.3 of the funds was in the form of equities, while the rest was in the form of venture debt.

The series B financing was supported by Cormorant Asset Management, a hedge fund that supports pooled investment schemes, and Inova Strategic Investments, a principal investor in the US’ healthcare industry. Moreover, the series B financing was supported by other principal investment firms like Western Technology Investment, Longwood Fund, and OSF Ventures. It was supervised by Perceptive Advisers, a consultancy firm that supports various innovations in the United States’ life sciences sector.

 

CEO Marc Beer Renovia divulged that he would use the funds to develop various diagnostic tools, as well as support the start-up’s clinical trials. Moreover, the healthcare start-up could use the funds to coordinate its upcoming commercial launches. Learn more: https://www.slideshare.net/MarcBeer

“We are contented with financial back-up from leading healthcare investors. Our company looks forward to implementing medical solutions that would improve the lives of women living with various pelvic floor disorders,” said Marc Beer.

Renovia Incorporation has been serving millions of women living with urinary incontinence. Already, the start-up has developed an FDA-cleared device that restores the levator plate’s optimal function.

 

A Brief Overview of Marc Beer Renovia

Marc Beer Renovia partnered with Ramon Iglesias, and Yolanda Lorie to co-found Renovia Incorporation. The start-up cooperated with leading medical researchers to develop therapeutic and diagnostic tools that could be used to manage an array of pelvic floor disorders. Mr. Marc Beer has served United States’ life sciences sector for over 25 years. Before launching his start-up, he worked at ViaCell, Minerva Neurosciences Incorporation, and Genzyme. He is an active board member of Miami University Business Advisory Council.

 

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