In the new round of funding, Marc Beer led his new startup Renovia Inc.to attracts over $42 million. The funding was in two parts with the Series B round bringing in $32 million and the $10 million streaming in as venture debt. According to Marc, these funds will play a key role in advancing the research and development of different treatment techniques in the field of biotechnology and pharmaceutical devices and diagnostics.
Currently, his medical technology company has concentrated its efforts on the development of a diagnosis and treatment of urinary incontinence. This refers to a pelvic floor disorder that the company estimated to affect over 250 million women over the world. A significant percentage of the funds collected during this round will, therefore, be dedicated to developing more advanced diagnostic technologies and more effective treatment options.
Other leading innovations by Renovia
Apart from the pelvic treatment option, the technology company has several other equally innovative medical treatments options in the pipeline. Some like Leva, the company’s first product have already received the approved for commercialization and global distribution by the Food and Drug Administration (FDA). Marc is also optimistic that the infusion of these finances will help speed up the development and testing process for four new products his startup has been working on as well as the production of an advanced and new generation of Leva.
Renova’s approach to medical innovations
Renovia hopes to offer to add a new twist to the development of treatment options by infusing medical technology and customer data. According to Marc Beer, this approach goes a long way in ensuring that Renovia only develops the most useful and relevant treatments by way of appealing the most to the public.
More about Marc Beer
Over the past 25 years, Marc Beer has dedicated his time to the development and commercialization of pharmaceuticals, innovative diagnostics, and biotechnological devices. He is, therefore, well exposed and experienced in overseeing the entire drug development process right from the research to the commercialization stage. Before co-founding Renovia Inc. with Ramon Iglesias in 2016, he had started and run several other successful medical technologies companies in addition to serving in the boards of leading medieval technology firms in the country.
Marc made his first major move in the biotechnology industry when he started ViaCell Company that specialized in the collection and preservation of umbilical cord stem cells. He served as the company’s Chief executive officer and oversaw its rapid growth that reached 300 employees in 2005 before leading its acquisition by PerkinElmer in 2007.
He has also served in the boards of such companies as Erytech Pharma and Abbott Laboratories. His most recent high profile role was serving as a vice president of Genzyme’s Global marketing division where he helped the brand launch several medications for rare diseases. Learn more: https://renoviainc.com/