Last month, Renovia Inc., a med-tech company based in Boston managed to raise $42 million to help bring new products on board. The company managed to raise $32 million during the Series B, which was added to $10 million collected from Venture debt. With the new funding in place, the company is expected to develop and test four more therapeutic and diagnostic products to help patients with Pelvic disorders. Among the products to be texted, include a new generation of Levi devices.
The company has developed various diagnostic and therapeutic devices to help treat multiple pelvic floor disorders. Renovia first line of product was Levi, which was approved by the FDA in April this year. Leva and other Renovia products help provide cost-effective treatment for weak pelvic floor muscles. The company has been dramatically involved in bringing solutions to thousands of women around the world. This includes 250 million women who suffer from Urinary incontinence.
Key investors that participated in the series B funding included Perceptive Advisors and Ascension Venture. The Longwood Fund, OSF Ventures, and Western Technology also involved in the funding round. The Longwood Fund has helped startups like Renovia get the necessary funding needed to support better the medical industry.
Renova was more than happy to get support from so many investors. According to Marc Beer, the co-founder and CEO of Renovia Inc, the newly acquired funding will help many women around the world. Women will now be able to get proper medications that will go a long way into making their lives easier. He was happy to have prominent investors in the healthcare industry believe in his dream.
Beer believes that the company has more than enough to get the ball kicking. Renovia project entails combining different innovations and technologies to provide customers with valuable information on new treatment options. They also intend to use a new platform to increase the knowledge and awareness of Pelvic floor disorders.
Marc Beer and Ramon Iglesias created Renovia in 2016. Marc Beer is a top-notch executive with more than 25 years of experience. He specializes in biotechnology, pharmaceuticals diagnostics, and devices. Marc graduated from Miami University (Ohio) with a Bachelors of science degree. He has worked in many companies that are significantly involved in health matter. In 2000 Marc was appointed the founding CEO of ViaCell (NASDAQ: VIAC), a biotechnology company that specializes in the collection, preservation, and development of Umbilical cords and blood stem cells. Marc led in various posts including being the chairperson of Good Start Genetics. Learn more: https://www.bloomberg.com/research/stocks/people/person.asp?personId=1285777&privcapId=47636573