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
Jacob Gotlieb and Stuart Weisbord are once again working together after about 20 years when each one was pursuing their business endeavors. The working relationship between the two healthcare investors is deep. They once were workmates in Merlin Biomed Group. After a long spell apart, they have once again come together to plan for a future in business as a team.
Mr. Stuart Weisbord was one of the co-founders of Merlin Biomed Group. During its creation, the firm aimed at enhancing health care with an emphasis on employing biotechnology and pharmaceutical knowhow in treating patients. This is a field where Mr. Stuart Weisbord is pro having been in the area while working in other healthcare investment companies such as Oracle Partners and Merril Lynch.
His academic qualifications are also outstanding having graduated with a Ph.D. in Biochemistry from Princeton University. He left this institution in 1980. He later joined Columbia University where he graduated with an MBA in finance in 1986. Before entering these institutions, Mr. Stuart had attended Colgate University where he graduated with a Bachelor of Arts degree in Chemistry.
After leaving Merlin Biomed Group, Weisbord created his firm that is called Iguana Healthcare Partners. The company has a similar operating model to that of Merlin. Jacob Gotlieb also followed a similar path after leaving Merlin. He had immense experience in the finance industry and used this prowess to start his firm that is called Visium Asset management. At the time of its creation, the company had $300 million capital. This later outgrew the initial projections to an astounding $2.5 billion. The company experienced a financial crisis at the time of this announcement. However, this didn’t deter it from getting back to profitable terms. In the latest evaluation, Visium had a value of $8 billion in hedge funds.
The company has experienced problems lately and was ultimately closed. However, no accusation has been leveled towards Mr. Gotlieb. He is still making strides in business, and the latest partnership with Weisbord is expected to bring wonders to the industry.
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