A new company is developing high-tech medical devices that will bring relief to hundreds of millions of women who suffer from what medical science calls pelvic floor disorders. This can encompass a range of problems, including incontinence, pain, pelvic prolapses and more.
The startup is called Renovia Inc. It recently announced it had raised $42 million in venture capital, an effort led by long-time pharmaceuticals developer, businessman and biotechnology specialist Marc Beer. Of that $42 million, $32 million was raised in the Series B round. An additional $10 million was raised in venture debt.
The demand for new treatments for pelvic floor disorders is considerable. It is estimated, for example, that 250 million women suffer from incontinence worldwide. Renovia has a new product called Leva to address this painful and embarrassing condition. The Leva system was approved by the FDA in April.
Leva is an innovative device described as a “digital health system.” The device enables women to target, exercise and “train” vaginal muscles associated with incontinence. This data-assisted pelvic trainer provides precise readings and direct feedback so that patients can get exact information on the exercise they perform — this in turn enables them to achieve results in a way never done before. Another huge advantage of the Leva system is that women can use it in the privacy of the home and it takes only minutes each day to produce positive result, early research shows.
Marc Beer is co-founder of Renovia along with Dr. Ramon Iglesias and Yolanda Lorie. Beer brings a vast background to the Renovia venture. For example, Mr. Beer was the founding CEO if ViaCell. This was a biotech operation that focused on the collection, preservation and development of blood stem cells garnered from umbilical cords. ViaCell experience rapid growth over a seven-year period after Beer established it in 2000. It had 300 employees and made its IPO in 2005. ViaCell was acquired by PerkinElmer in 2007.
As for Marc Beer’s new venture, Renovia attracted early support from the Longwood Fund. This effort was led by Perceptive Advisors of New York and Ascension Ventures, based in Missouri.
In a recent media interview Beer told reporters he was “thrilled” to have the backing of Perceptive Advisors and Ascension Ventures because of the synergy these entities bring to the Renovia mission.
Best of all, Beer said, is that Renovia, its new product Leva, and other projects in the development pipeline, will bring relief to millions of women around the world. Ultimately, providing aid, comfort and relief to women suffering from pelvic disorders is what being in business is all about, he said. Learn more: https://www.crunchbase.com/person/marc-beer