Renovia Inc., a company committed to the development of therapeutic and diagnostic products, has closed $32.3 million Series B round of financing and $10 million in venture debt. The funds will go to the development of more therapeutic and diagnostic products for diagnosis and treatment of pelvic floor disorder in women.
Renovia sought the advisory services of BayCross Capital Group as they participated in Series B financing with Inova Strategic, Longwood Fund among other firms. The Series B financing was overseen by Perceptive Advisors and Ascension Ventures.
Marc Beer, Co-Founder, Chairman and CEO of Renovia Inc., said that they were glad for the unanimous support they got from leading investors in the industry who also look to improve the lives of women affected by pelvic floor disorder around the world. He commended the companies that came together for the financing because it was in line with their clinical as well as commercial vision.
Combining their sophisticated technologies, form factor and digitalized platform, according to Marc Beer, will drive greater knowledge as well as understanding of pelvic floor disorders and lead to reduced costs of health care in the end. The support they have so far garnered demonstrats the value investors have seen in the Renovia’s diagnostic and treatment products for pelvic floor disorders such as urinary incontinence.
It has been revealed that over 250 million women across the world are affected by urinary incontinence. Since Renovia came to being, it has worked hard to alleviate the pain of the women across the world and improve their lives. Renovia’s first product, leva device, received FDA approval in April and it is designed to control the movement of the levate plate.
The company leverages on technology as well as value-based data to provide affordable as well as precise treatment of pelvic muscle in real-time at the same time tracking the process of recovery. The company’s leadership team is now stronger as three renowned executives joined the leadership team.
Renovia, headquartered at Boston, Massachusetts, was founded in 2016 to develop as well as commercialize products for diagnosing and treating condition-specific pelvic floor disorders affecting millions of women in the world. With the use of innovative products and technologies, Renovia Inc. is able to train pelvic muscle movement at the same time track the recovery process.
About Marc Beer
With over 25 years of experience in the health sector, Marc Beer is an expert in development as well as commercialization of pharmaceuticals, devices, biotechnology as well as diagnostics. Along with Ramon Iglesias he embarked on a journey to impact lives of women living with pelvic floor disorders by founding Renovia in 2016. He has been very successful in sourcing for funds because not only has he closed Series A, but also Series B. He has built a legacy in the health care having founded various companies and leaded many companies to prosperity. Additionally, he sits in boards of directors of various companies and organizations. Learn more: https://renoviainc.com/leadership/