Renovia is a startup company with new products to treat pelvic disorders. The company co-founded by Mac Beer will now go ahead and roll out its products after raising $42 million. $10 million was initially raised through venture debt before the series B round closed with more than $32 million. One of the healthcare oriented funders who has supported Renovia is Longwood Fund, who also joined in set B. Other top investors in are Perceptive Advisors in New York and Ascension Ventures based in Missouri. There will be another round that will ensure all investors in healthcare get a chance to be a part of the excellent course.
The resources mobilized will go towards testing and developing a variety of products including a new generation Leva device. FDA recently approved Renovia’s first product, Leva. The product enhances muscle strength through muscle therapy avoiding the side effects of medication. Pelvic floor disorders are different illnesses that weaken the lower parts of the pelvis such as muscles, tissues, and ligaments. The floor enables various organs to function well such as bladder, rectum, and uterus. Some disorders affect the self-esteem of individuals such as urinary incontinence. It is estimated by researchers to affect more than 250 million women worldwide.
Renovia is focusing on diagnosing and researching the cost-effective treatment options for pelvic disorders. This cost cut will enable more women to be able to access the treatment, improving many lives in the process. For patients to take back control of their pelvic muscles, FDA approved devices are used to heal the disorders and later track the progress by use of microsensors. With the products in digital platform research will be faster and patients will have a chance to pick a therapy that works for them in good time.
Mac Beer is a veteran in the biotechnology and pharmaceuticals industry. He has achieved a lot in his more than two decades of involvement in the industry. One of his successes was when he found Viacell, a biotechnology company that dealt with umbilical blood stem cells. He grew the company tremendously before making it public in 2007. At one point he also worked for Genzyme Therapeutics as their global marketing Vice president. He currently sits in the board of Good Start Genetics, Massachusets Science Board and Minerva Neurosciences. Mac has been exceptionally successful in his past ventures, and there is no doubt that Renovia will achieve even greater success. Learn more: https://www.slideshare.net/MarcBeer