Renovia Inc. is a company that spearheads the creation of devices that help to diagnose and offer digital therapy to women who are suffering from pelvic floor disorders. For the organization to expound on their research, they were able to raise a total of $42.3 million. The Series B equity funding catered for $32.3 million and the other $10 million came from venture debt. The funds would then be used to finance the clinical trials at Renovia, corporate development, product development pipeline, and commercial launches in the future.
Among the organizations that participated in the fundraiser were such as the Longwood Fund, Cormorant Asset Management, Inova Strategic Investments, Western Technology Investment, and OSF Ventures. Renovia’s advisor was Baycross Capital Group. Since Marc Beer serves as an executive at Renovia, he addressed the people who attended the fundraiser, and he expressed his happiness since many healthcare investors had availed themselves to support the vision of Renovia. The healthcare investors will enable Renovia to perform better diagnosis, formulate better treatment methods, and the lives of many women living with pelvic floor disorder will be improved.
Marc Beer also talked about combining the proprietary and innovative sensor technologies to come up with a health platform that would be digitized. The digitization process will allow customers to access data about their health status thus ensuring that they’re knowledgeable about their available treatment options. Women will also get access to affordable treatment. Renovia is also planning to come up with a treatment solution to urinary incontinence.
Urinary incontinence is another health ailment that is affecting women globally, and more than 250 million women have succumbed to this ailment. Since the inception of Renovia in 2016, the company has been dedicated to finding a diagnostic and therapeutic solution that would positively impact the lives of many women globally. Renovia has also come up with some devices that have also gotten FDA approval. One of their devices helps to direct and isolate the smooth movement of the levator plate. This device also makes use of patient-based apps and technology that deals with data management to ensure that the patients are able to get access to affordable treatment.
The treatment options are also precise, and a patient is able to gain access to their data in real-time pertaining to the pelvic floor disease. Renovia has also been working together with renowned medical specialists such as Samantha Pulliam who serves as the chief medical officer of the organization. The leadership team also consists of Jessica McKinney who is the vice president of medical affairs of the company and the general counsel is Jim O’Connor. Renovia’s leadership consists of medical specialists who work hand in hand with Marc Beer to revolutionize the healthcare sector and also find a solution to some the ailments affecting women adversely. Learn more: https://ideamensch.com/marc-beer/