A start-up company by the name of Renovia Inc. will be moving forward after closing a $32 million dollar deal with several new products for pelvic floor disorders. This new business deal also included a venture debt for $10 million dollars. This start-up company was co-founded by Marc Beer, a former Aegerion Pharmaceuticals CEO.
This med-tech company is based out of Boston. This company is developing a variety of therapeutic and diagnostic products to treat things such as urinary incontinence, a pelvic floor disorder that affects 250 million women globally. Leva was the Renovia Company’s first products. This product received FDA approval in the month of April.
A healthcare-focused investing firm that invested early on in the start-up company was the Longwood Fund. The Longwood Fund and Series B round was joined by the Missouri-Based Ascension Venture and the New York Based Perceptive Advisors. Their financial support with this business venture will go towards testing and developing several more diagnostic and therapeutic products, a new Leva product will be included.
Marc Beer stated that by combing proprietary and innovative form factors and sensor technologies with a healthcare digital platform would give their clients and/or customers valuable information to advise new options for treatments, understanding pelvic floor disorders, ultimately lower long-term costs for healthcare and drive greater knowledge. Beer stated that he and the company are thrilled with this leading healthcare investor group’s assistance that actually share their mission to treat, better diagnose and actually improve the millions off women’s lives who are affected with the disorders of the pelvic floor.
A response was not given by the company regarding its pipeline of products or its investments.
Marc Beer’s first business venture is Renovia since leaving Aegerion in the year of 2015. Beer brings over 25 years of commercialization and development in pharmaceuticals, biotechnology, diagnostics and devices. Beer and Ramon Iglesias MD as well as Yolanda Lorie founded Renovia in August 2016. All three successfully obtained financing for the closure of Series A with venture leading healthcare capital funds.
OvaScience (Nasdaq: OVAS) also has Beer serve as a strategic consultant. A business merger will also be taking place between Michigan-based Millendo Therapeutics and Waltham Biotech.
Learn more: https://renoviainc.com/