Marc Beer, biotech and pharmaceutical industry veteran, has raised $42 million in startup funding for a new healthcare company, Renovia Inc, which will be devoted to women’s health issues. The company will focus on developing new diagnostic and therapeutic technologies for pelvic floor disorders, which according to the National Institutes of Health (NIH), affect one quarter of all women. Pelvic floor disorders can result in pain, urinary incontinence, and impair physical and sexual health, taking a large toll on the quality of life for afflicted women. Women over the age of 60 are the most impacted by weakened pelvic floor muscles.
In addition to co-founding the startup, Beer will serve as chairman and CEO of Renovia Inc. Beer has served as CEO of several biopharmaceutical companies including ViaCell, as well as overseen the global launch and marketing efforts for products targeting rare diseases for Genzyme. He has served on multiple advisory boards and councils including the Miami University Business Advisory Council, the compensation committee and the audit committee for Minerva Neurosciences Inc, the Notre Dame Research and Commercialization Advisory Committee and the Notre Dame Graduate Studies Research and Advisory Council. Beer holds a BS from Miami University in Ohio. Learn more: https://www.crunchbase.com/person/marc-beer
Initial funding for the Boston-based startup came in large part from The Longwood Fund, a pharmaceutical venture capital group, which invested early in Renovia Inc. In total, Renovia garnered $32 million in Series B funding and $10 million in venture debt. The company is developing four new products, including leva, which received FDA approval in April, 2017. According to Renovia’s website, Leva is a digital health system designed to help women with weakened pelvic floor muscles to strengthen and rehabilitate those muscles using an advanced visualization tool including an app. Learning pelvic floor exercises can be challenging for many women as it can be difficult to isolate the correct muscle groups consistently. Renovia Inc believes that leva will provide impacted women with a simple and confidential way to track their progress at home. Beer believes the new technology will provide consistent data to improve both the process of diagnosing and treating pelvic floor disorders improving cost efficiency while empowering patients and providers.