Marc Beer is the Co-Founder and Chairman of Renovia. Renovia is a company that provides digital therapeutic devices for women that have types of pelvic floor disorders. Renovia recently announced their deal of $42.3 million in financing. This deal also includes $32.3 million in equity in the Series B category. The deal Renovia completed also includes $10 million in venture debt on the company. A portion of the proceeds from the recent funding of the company will be used for product development, corporate development and new commercials. Learn more: https://renoviainc.com/
Financing in the Series B division has been led by Ascension Ventures and Perceptive Advisors. Longwood Fund, Cormorant Asset Management, Inova Strategic Investments, Western Technology Investment and OSF Ventures have also been involved in the deal. BayCross Capital Group was the perspective advisor to Renovia.
Marc Beer spoke of the business deal. He commented on the presence of existing and new investors for the business. The company has been in business deals with three integrated health companies. They hope to further their commercial vision for the company. Beer spoke on the two companies and their abilities to combine the technology they posess to give their consumers treatment options and create more business for the consumers in this market. The company has digital therapeutic and diagnostic products that they use for treatment of pelvic floor disorders.
Urinary incontinence is a common issue among woman in the United States. Renovia’s has a device for the purpose of targeting the mechanism that isolates and also directs optimal movement for the levator plate. The device Renovia sells is a product pipeline with technical apps and data management technology. They provide these device through the health care industry to their consumers for urinary incontinence and pelvic floor disorders. During 2018, Renovia added more customers and senior leadership to their company. Samantha Pulliam, MD was given title Chief Medical Officer. Jessica McKinney, PT, was given title as VP of Medical Affairs. Jim O’Connor was given the title of General Counsel for the company.
Jessica McKinney, VP of Advocacy and Medical Affairs for Renovia earned PT, CMPT and MS certification. She is certified and experienced in obstetric fistula rehabilitation as well as women’s health in lower-income countries. She has worked closely with organizations such as Panzi Hospital and Foundation, as well as HEAL Africa located in the Democratic Republic of Congo.