Women around the world suffer from numerous health conditions that severely affect the quality of life that they live. Sadly, some of these medical conditions have been neglected by the biopharma companies for one reason or another. One man, Marc Beer, an experienced executive in the pharmaceutical sector and entrepreneur is looking to change the current situation in women’s health care. Through his biopharma start-up Renovia – based in Boston – Marc is looking to finding medical solutions to some of the most chronic health issues faced by women around the world.
Raising funds for the course
Recently, Marc Beer was out and about rallying for funds to further the good course of his start-up looking to not only improve women’s health but also bring happiness to communities. In his funds rallying campaign, Marc was very successful. He managed to raise a total of $42 million in funding to finance Renovia’s operations. The main focus for the company of late has been finding therapeutic and diagnostic solutions for the notorious pelvic floor disorders especially urinary incontinence. Reliable statistics indicate that not less than 250 million women from around the globe suffer from this dreaded condition.
The Renovia CEO raised a total of $32 million through Series B funding, and the additional $10 million came from venture debt. Marc Beer successfully got on board some of the most seasoned health sector investors in his Series B round funding to raise the $32 million. A healthcare-focused investment firm, Longwood Fund which had also earlier invested in Renovia was part of the Series B round. Other investors were Ascension Ventures from Missouri and Perspective Advisors from New York.
The funding raised will be dedicated to coming up with the second generation of the Leva devices. Additionally, there are three other break-through devices in the works at Renovia which these funds will play a significant role in their development. Making this funding announcement, Marc Beer mentioned that his company was very grateful for the support of its investors. He added that his company would keep delivering new treatments for pelvic disorders as their knowledge on it expands through research.
About Marc Beer
Marc Beer is the co-founder and Chief Executive Officer of the Boston based biopharma start-up Renovia. This pharmaceutical entrepreneur has over two decades of experience as an executive in the medical sector. Marc’s area of specialization has been the development and commercialization of break-through biotechnology devices and pharmaceutical diagnostics. Through his start-up Renovia, Marc hopes to help millions of women around the world living with pelvic disorders live normal lives. The Leva device (first edition) has significantly made this possible, and he hopes with its second edition things will even get better. Learn more: https://patch.com/massachusetts/boston/renovias-marc-beer-raises-42m-treat-womens-health-issues