Marc Beer recently co-founded a health startup, Renovia Inc. dedicated to the advancement of women health research. The firm particularly specializes in the study and development of drugs and other treatment options for urinary incontinence.
According to Renovia, this refers to a pelvic floor disorder estimated to affect over 250 million women across the world. Marc’s startup has, therefore, dedicated vast amounts of time and resources in understanding the condition and developing its first drug, Leva, which received FDA’s approval in April.
Raising $42 Million
Renovia sources its funds from healthcare investment firms to advance its objectives. The Marc Beer-led company would start by organizing a series A funding to get the ball rolling. The funds raised during the Series A round would help the firm initiate different research projects that culminated in the development and approval of their first pelvic floor disorder drug, Leva.
The women health startup has, however, been engaged in several other research and drug development projects. For instance, it is contemplating the development of an advanced form of the Leva drug. More importantly, it has four diagnostic and therapeutic products that it hopes to push through the final development, testing and approval process.
It, therefore, organized a successful Series B round of funding that raised a record $42 Million. Missouri-based Ascension ventures and the Longwood Fund were some of the earliest venture capitalists to join the fund drive that Raised $42 million. A significant portion of this, $32 Million, was in the form of direct investments while venture debt accounted for $10 million.
Marc Beer’s optimism
Acknowledging the success of the Series B funding, Marc Beer praised the healthcare investment funds for their support. He would interpret the success of the fund drive as a show of approval and support of Renovia’s mission and vision. Marc added that his company has access to a host of highly innovative and proprietary healthcare technologies. These help it gain a deeper understanding of the pelvic floor disorders and in effect develop more effective treatment options. Learn more: https://ideamensch.com/marc-beer/
More about Marc Beer
Marc has close to three decades of active experience in the health sector. He spent a significant portion of this time in the biotechnology, pharmaceuticals, diagnostics, and devices sectors where he helped to promote research and aid with the commercialization of treatment options. Taking advantage of this industry experience, Marc partnered with Yolanda Lorie and Ramon Iglesias to co-found Renovia Inc. in 2016 where he serves as the Managing Director.
He shot into the drug research and commercialization limelight during his time at ViaCell, a biotechnology startup specializing in the collection and preservation of umbilical cord and blood stem cells. He led the company for seven years and saw it morph from a simple startup to a fully-fledged commercial organization employing over 300 employees.