Marc Beer likes his biotechnology and pharmaceuticals very much that he dedicated almost all his career in contributing to the two industries. Marc founded ViaCell, a biotechnology company that specializes in the collection, preservation, and development of the umbilical cord blood stem cells. He stayed in the company for seven years to see through it that it would end up in success. The ViaCell was acquired by PerkinElmer in 2007.
He is also the Founding Chairman of the BOD for Good Start Genetics, Inc. He is also the founding chairman of Minerva Neurosciences Inc and a member of Miami University Business Advisory Council. After 25 years in walking to the path of biotechnology and pharmaceuticals, Marc founded the Renovia with Ramon Iglesias, MD and Yolanda Lorie. Renovia was founded on August 2016 and since then managed to get a Series B funding and a venture debt worth of $42 million for a new product. The product focuses on treating pelvic floor disorders. The Longwood Fund made the series B round funding possible.
Pelvic Floor Disorders are ailments that affect the pelvic floor, which contains muscles, ligaments, and tissues that support the urinary and reproductive system in females. One example of the Pelvic Floor Disorder is the urinary incontinence, which affects 250 million women globally. Leva’s main target is to help women who suffer from Pelvic Floor Disorders. According to UChicago Medicine, almost one-quarter of women have pelvic floor disorders. Hopefully, Leva can also bring awareness about the condition to better diagnose and treat affected women.
One of the Pelvic Floor Disorder treatments developed by Renovia is the Leva, which aims to strengthen the pelvic floor muscles and rehabilitating the weak ones via technology using Bluetooth and smartphone. The product uses interactive visualization and aims to fix urinary incontinence without surgery or related medication.
The funding from the Series B round and the venture debt is expected to go to toward the development and testing of four new products which focuses on therapeutic and diagnostic tasks. These four products include the Leva device.
Beer stated that he and the folks from Renovia are thrilled and grateful at the same time for the investors who share their vision, and that is to have a better diagnostic and treatment of millions of women affected by the disorder. In addition to that statement, Beer expected that by combining their sensor technologies with a digital health platform will be a good combination for greater knowledge about pelvic floor disorders.
The company answered a lot of questions about their products. But they did not respond to questions about the investment. As reported by Bizjournals, they did not also respond when asked about the seeming pipeline model of their products. Learn more: https://www.crunchbase.com/person/marc-beer