Urinary incontinence is just an example of some of the pelvic disorders that millions of women across the world have had to bear with, in the past decades. However, there is now a light at the end of the tunnel, after Renovia Inc. a Boston based pharmaceutical company announced its plans to continue with the production of various pelvic floor disorder medications. This announcement came after it successfully closed its Series B round funding with $32 million in funding and another $10 million in venture debt.
The success of the series B round funding can be attributed to the fact that it’s first pelvic disorder product, dubbed Leva managed to gain FDA approval and is doing pretty well since it entered the market in April. Some of the companies which took part in Series B round include the renowned healthcare investment firm, Longwood fund.
Commenting on the matter, Renovia Inc’s Chief executive officer, Marc Beer said that through the support of Longwood Fund, Renovia’s vision will now turn into reality as both companies share the same concept, which is; improving the lives of millions of women across the world who suffer silently due to pelvic disorders. He further added that besides sharing the same vision, both Renovia and Longwood Fund boast top-shelf sensor technologies and all the resources relevant to the project. In respect to this, it will now be possible for them to provide valuable treatment options to their clientele and at the same time create easy access to pelvic disorder information hence enable the patients and the affected gain a deeper understanding of these disorders. According to Marc Beer, this will go a long way in cutting the long-term health care costs associated with conditions such as Urinary incontinence among many other pelvic disorders.
Longwood’s funding in Series B round will go a long way in enabling Renovia to come up with better products for the diagnosis and treatment of pelvic disorders as it will allow renovia to gain access to all the resources it requires for the development and testing of new products. Some of the products that Renovia aims at bringing forth include a more enhanced, new era Leva device.
More about Marc Beer
Marc Beer boasts a career that spans over two decades in the biotechnology and healthcare arena. He has worked with various top level pharmaceutical and biotechnology firms where he served the role of Chief Executive officer before moving to another biotech firm known as ViaCell where he was the founding CEO. Marc Beer boasts exemplary leadership skills and this is proved by the fact that every company that he has ever been part of, now rides high on success. For instance, while at Viacell, Marc managed to broaden its horizons and just five years after its inception, the company had increased the number of staff to 300 and even went public. There is no doubt that under his belt, Renovia Inc. which he co-founded with Yolanda Lorie and Ramon Iglesias two years ago, is headed in the same direction. Learn more : https://www.slideshare.net/MarcBeer