CEO Marc Beer, formerly with Aegerion Pharmaceuticals, announced the closing of Series B funding for his new company Renovia Inc. with $32 million in funding.
Renovia Inc. is a medtech company based in Boston. It specializes in diagnosing and treating pelvic floor disorders which affect an average of 250 million women worldwide. Their first product, Leva, received FDA approval back in April.
Beer, working with Perceptive Advisoers from New York and Ascension Ventures from Missouri, was able to secure investments from the Longwood Fund. Known for its interest in healthcare companies, the backing from the Longwood Fund will be used to develop three new products and a new iteration of the Leva.
In a recent statement, Beer expressed his excitement with the support he gained from investors looking to innovate healthcare with products and methods dedicated to improving the quality of life for millions of women. With proprietary technologies and an innovative digital health platform, Beer envisions new empowerment for patients by increasing their understanding of pelvic floor disorders and inform decisions about their continued healthcare.
Renovia has been Beer’s first foray into venture capitalism since leaving Aegerion back in 2015.
About Marc Beer:
Marc Beer is an American venture capitalist with 25 years of experience in the healthcare industry. After graduating from Miami University (Ohio), where he’s held memberships in on the Business Advisory Council, he became a founding member for the Good Start Genetics, a genetic screening company. The experience accrued there led to a seat on the Mass Life Science Board of the Commonwealth of MAssachusetts and the Bio (Biotechnology Industry Organization) Emerging Companies Section Governing Board. Beer’s foray into the business world took off with Abbott Laboratories, where he worked in sales and marketing for the pharmaceutical division. This opened doors to Genzyme, a biotechnology company that diagnoses and treats debilitating and rare diseases, where he served as Vice President of Global Marketing, launching products all over the world.
By the time he was ready for executive leadership, Beer founded his own company, ViaCell, focusing on stem cells from preserved umbilical cords. in 2007, after seven years of operation, the company swelled in size, adding 300 employees before being acquired by competitor PerkinElmer. During his tenure at ViaCell, Beer also sat on the board of directors for Erytech Pharma. This was leadership experience that served him well when he teamed up with Ramon Iglesias, MD, and Yolanda Lorie to create Aegerion Pharmaceuticals, providing products to address rare diseases in 36 countries. After leaving the company, Beer founded Renovia, a biomedical company addressing issues of pelvic floor weakness and dysfunction affecting millions of women the world over with innovative diagnosis and personalized devices meant to better inform patients of their conditions. Learn more: https://renoviainc.com/leadership/