Marc Beer closed two deals worth $42 million for Renovia Inc, a women health start up. The startup is going forward with its plan to develop several products for treatment of pelvic floor disorder in women. The renowned entrepreneur closed $10 million in venture debt and $32 million in Series B round of financing.
The Boston-based medtech startup endeavored to develop diagnostic as well as therapeutic products for treatment of pelvic floor disorders. Urinary incontinence is one type of pelvic floor disorders that has been found to be affecting over 250 million women around the world. The start-up’s Leva product received the approval of FDA early this year.
The Longwood Fund is an investment firm focused on healthcare. It invested early in Renovia and it also participated in the Series B round. The Series round was led by New York-based Perceptive Advisors as well as Missouri-Based Ascension Ventures. The funds will go into development of 4 main therapeutic and diagnostic products.
Mr. Beer, Renovia CEO, said that they were thrilled to get the support of leaders in the healthcare sector. He went ahead to say that they share the same vision of seeking to improve the lives of women affected by the disorders through advanced diagnostic and treatment products. Marc Beer’s company uses advanced technologies and platforms that drive generation of valuable data for its customers. The data informs better treatment options and ultimately build on the knowledge of pelvic floor disorders. The better understanding of pelvic floor disorders will at long run lead to reduced healthcare costs.
Marc Beer worked at OvaScience (Nasdaq: OVAS) as a strategic consultant. Recently, OvaScience is considering a merger option with Millendo Therapeutics. Learn more: https://renoviainc.com/
Who is Marc Beer?
He is the Chairman, Co-Founder and CEO of Renovia with over 25 years of experience in development and commercialization in biotechnology, devices, pharmaceuticals, and diagnostics. He founded Renovia in 2016 alongside Ramon Iglesias and Yoland Lorie. Beer closed Series A successfully when Renovia was getting off the ground.
Marc Beer played a major role at ViaCell serving as a founding CEO. He juggled his roles at ViaCell with the role he played at Erytech Pharma Board of Directors as a member. He rose through ranks at the biopharmaceutical company to become the Vice President of Global Marketing. He was in charge of marketing as well as sales roles in the pharmaceutical and diagnostic divisions of Abbot Laboratories. He was a member of the Mass Life Science Board of the Commonwealth of Massachusetts and Biotechnology Industry Organization Emerging Companies Section Governing Board. He is the Chairman and Founder of Good Start Genetics and Minerva Neurosciences Inc. The medtech entrepreneur holds a Bachelor of Science degree from Miami University (OHIO).