Category: Entrepreneurs

“Renovia Inc Chairman & CEO Raises $42 Million “

The co-founder of Renovia Inc., Marc Beer, also serves as the chairman and chief executive officer of the firm. The other founders include Ramon Iglesias, who serves as the managing director, and Yolanda Lorie. Renovia Inc specializes in the development of diagnostic and therapeutic devices used in the treatment of pelvic floor disorders.

Marc Beer boasts of over 25 years of the creation and commercialization experience in the areas of devices, diagnostics, pharmaceuticals, as well as biotechnology. He previously worked with the Waltham biotech, OvaScience, as a strategic consultant. At the beginning of August 2018, OvaScience had started making plans to merge with Millendo Therapeutics, Michigan. Marc Beer has also served as ViaCell’s founding chief executive officer from April 2000 to 2007. A biotechnology firm, ViaCell deals in the gathering, storage, and development of umbilical cord blood stem cells. During the seven years, Marc Beer helped grow the organization to a vast commercial organization and by the time he was leaving, the labor force comprised of more than 300 people.

At the time of the formation of the company, Marc Beer, alongside the Renovia team of management successfully led the closure of a series A financing with renowned healthcare venture capital funds.

During the third quarter of 2018, Renovia closed a series B round of financing worth $42 million – part of the money, $10 million, is a venture debt. Based in Boston, Renovia Inc can now move forward with the development of an additional four diagnostic and therapeutic products (including a new generation of Leva) to enhance the treatment of pelvic floor disorders such as urinary incontinence. This will come in handy as far as improving the lives of many women is concerned, seeing that researchers estimate that the condition affects over 250 million women across the world. In April 2018, the Food and Drug Administration approved the first of Renovia’s product, Leva.

The Longwood Fund, which is inclined to making investments in the healthcare industry, joined the Series B round of funding – after participating in the Series A round. The transaction was steered by Perceptive Advisors of New York, and Ascension Ventures, who are based in Missouri.

While issuing a statement about the funding, Marc Beer expressed the excitement of the team at Renovia for the support they had received from the healthcare investors who didn’t shy away from buying into their vision of bettering the diagnosis and treatment of pelvic floor disorders in millions of women. According to Beer, the efforts will go a long way in improving the quality of life of women struggling with pelvic floor disorders. He believes that the combination of the firm’s innovative, branded sensor technologies and form factors with a digital healthcare landscape is capable of delivering valuable data and in turn, facilitate new treatment methods. With increased knowledge and comprehension of pelvic floor disorders and the circumstances surrounding it, Marc Beer is confident that the long term cost of health care can reduce considerably. Learn more: https://renoviainc.com/

Marc Beer Helps to Raise Capital

Growing any type of organization can be a challenge. In order to grow your company, you may need to raise capital from outside investors. While this can prove to be a challenge for some people, there are other organizations that have such great concepts and futures that they are able to raise it through a variety of different private equity and venture capital funding. One organization that has done a great job of raising capital over the past few years is Renovia.

 

Over the past few years, this company has been able to raise several different rounds of private-equity. This recently has included a $32 million series-B fund that will be used to help continue to grow the organization. Renovia continues to be a very popular option with investors due to the medical technology demand that is growing in the field. Today, the organization is very well known for being the innovator behind a variety of different medical devices and other products that are continuing to shape the industry. Learn more: https://renoviainc.com/

 

Along with the new round of equity, the company will also be receiving a $10 million round of venture debt. The more than $40 million of new money coming into the company will help to fuel the growth for the next few years. The company plans to use the money to raise working capital, invest in new product lines, market, and bring a number of new exciting concepts and products to market. This would be an impossible task if it was not for the new round of funding.

 

Ever since the company was formed, Renovia has continued to be very impressive to investors and other stakeholders. While the medical technology industry is very competitive and hard to succeed in, the company has continued to do well. Much of the success is due to the leadership of the company’s CEO Marc Beer. Follow Marc Beer on LinkedIn

 

In his role as CEO of Renovia, Marc Beer has been responsible for a variety of initiatives that have been used to grow the company. While the organization has been able to come up with some great concepts, the leadership provided by Beer has been the central driving force behind the success of the company. Over the past few years alone, he has led many different rounds of debt and equity raising that has allowed the company to invest further into new technology.

 

While Marc Beer has been a very big part of the Renovia team, he has also found other ways to give back. Beer is a very significant part of a variety of advisory councils for the Univeristy of Miami and the University of Notre Dame. He also continues to participate and donate to a range of charitable organizations.