Marc Beer is an American entrepreneur in the pharmaceutical sector. His latest venture is Renovia Inc., a Boston, Massachusetts-based firm he co-founded with some business partners. His company recently completed its Series B round of funding in which it raised $32 million. He also brought in $10 million in loans during the same timeframe.
His company is dedicated to finding solutions for pelvic floor disorders. These types of disorders happen in women and it involves situations in which the bladder, bowel, and uterus “dropped” down on the vagina. This leads to issues such as pelvic pain, urinary incontinence, and lack of bowel control. Up to 250 million women worldwide have one of these disorders. Marc Beer’s first treatment for these disorders is Leva which was approved by the Food and Drug Administration in April 2018.
There were three main investment firms who participated in the Series B round. It was led by two of these firms which were Ascension Ventures, based out of Missouri, and Perceptive Advisors headquartered in New York City. The other major investor was Longwood Fund which was one of Renovia’s first investors. Marc Beer said that his company will use the money they raised to create the next generation of Leva. They will also start testing and developing four other devices to help women with pelvic floor disorders.
When the Series B round successfully ended Marc Beer put out a statement as the chief executive officer of Renovia. He said that he was gratified to have the support of top healthcare investors who believe in his company’s vision. He said that his company’s proprietary sensor technology and other innovations such as their digital health platform will help women obtain valuable information about their disorder and what new treatment options are available to them. He looked forward to his company making information about pelvic floor disorders more widely known and helping to reduce long-term health care costs by offering medical devices that women can use to avoid expensive surgeries and other healthcare.
Marc Beer has been in the pharmaceutical industry for almost 30 years. He is a graduate of Miami University, earning his bachelor of science degree in 1987. He started out his professional career at Abbot where he was their sales training and development director. He became a top executive in 1994 when he joined Biostar, Inc. as a vice president and entered the C Level ranks in 2000 when he became the chief executive officer of ViaCell. Learn more: https://www.businesswire.com/news/home/20180821005199/en/Renovia-Completes-42.3-Million-Series-Financing