CEO Marc Beer Describes What His Company Plans To Do After Its Series B Funding Round

Marc Beer has been working in the pharmaceutical industry ever since graduating from college at Miami University in 1987. His core skills include managing people and developing devices and diagnostics to treat illnesses and disorders. He co-founded Renovia Inc. in August 2016 and is this firm’s chief executive officer and chairman of the board of directors. Other positions he currently holds are chairman of the board of directors at Good Start Genetics and at Minerva Neurosciences.

Renovia, a pharmaceutical startup, just held its Series B round. Marc Beer says that they raised $32 million from this and in a separate transaction raised another $10 million that is secured by debt in his company. Three main venture capital firms took part in this round which included one of their earliest investors, Longwood Fund. The other two major investment firms included Missouri’s Ascension Fund and New York’s Perceptive Advisors.

The money that was raised will be used in a few different ways. Leva is a product from Renovia which is a medical device which teaches women how to do pelvic training. It is for women who have a pelvic floor disorder, an affliction that is estimated to affect 250 women worldwide. They use this device and its accompanying mobile app to improve their pelvic strength by doing Kegels exercises. The money raised will be used to improve this device and also develop four other devices they are interested in introducing to the market.

Marc Beer says that pelvic floor disorders result in a number of negative consequences for women. These disorders involve the bladder, uterus, and bowel either individually or collectively “falling” down on top of the vagina. What this disorder can cause includes incontinence when it comes to the bladder and bowels, pelvic pain, pelvic organ prolapse, and dyssynergia among other conditions.

Outside of Restoria, Minerva, and Good Start Genetics, Marc Beer is involved in the business community in a number of ways. He serves on his alma mater’s Business Advisory Council, for instance. He has also served on Notre Dame’s Research and Commercialization Advisory Committee and its Graduate Studies Research and Advisory Council among other positions. Learn more: https://www.crunchbase.com/person/marc-beer

 

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