Globally, Pelvic Floor Disorders (PFDs) affect approximately a quarter-million women. The pelvic floor consists of connective tissue, ligaments, and muscles. The pelvic floor’s function is to hold organs in place including the bowel, uterus, and rectum. One known cause of PFDs is weakened pelvic muscles or torn connective tissue. While the cause of some PFDs is known the causes of other types of pelvic floor disorders are still being researched.
The MedTech company Renovia develops and markets means of diagnosing and treating pelvic floor disorders. Established in 2016, and headquartered in Boston, Renovia was co-founded by company CEO Marc Beer, Dr. Ramon Iglesias, and Yolanda Lorié. Mr. Beer has spent two-and-a-half decades working in the field of biotechnology. During that time, he has gained expertise in diagnostics, and developing medicines and devices to treat illness.
Prior to co-founding Renovia, Marc Beer served as CEO of Via Cell for seven years. ViaCell collected, preserved and refined stem cells taken from umbilical cords into a useable product. Mr. Beer joined the company when it was first founded. By the end of his tenure at ViaCell the company employed over 300, began trading its stock publicly, and in 2007 was sold to PerkinElmer for $300 million.
Marc Beer graduated from Miami University in Ohio earning a BS degree. Today he holds a seat on that school’s Business Advisory Council. Mr. Beer has worked for Abbot Laboratories in the marketing arm of their pharmaceutical and diagnostic division. He has also been a member of the Mass Life Science Board of the Commonwealth of Massachusetts and the Biotechnology Industry Organization (BIO) Emerging Companies Section Governing Board.
In August of this year a Series B round raised $42 million for Renovia. A Series B round is the second round of funding raising after start-up money has been raised. The $42 million is earmarked for researching and developing four products to diagnose and treat pelvic floor disorder.
Among the treatments that the funding will bring to market is Leva that received FDA approval in April of this year. The company describes Leva as a Pelvic Digital Health System. The device enables women to “train and strengthen”muscles of the pelvic floor at home.
The Series B funding came from the healthcare investment companies Ascension Ventures and Perceptive Advisors. The two contributors are based out of Missouri and New York respectively. Learn more: https://www.slideshare.net/MarcBeer