Marc Beer raised $42 million to fund Renovia, Inc, a woman’s startup health company. Renovia manufactures diagnostic and therapeutic equipment that is a treatment for many kinds of pelvic floor disorders. Renovia plans to use the $42 million to create new products in the areas of biotechnology, pharmaceutical, and more. Renovia treats many feminine problems, including urinary incontinence that is a problem for more then 250 million women all over the world. Back in April, the FDA approved use of Leva to relieve incontinence in women. Leva is Renovia’s first product developed to address the medical needs of women.
The Longwood Fund is an investment company that specializes in funding healthcare companies. The Longwood Fund was the first investment company to invest in Renovia. After successfully closing $32 million in the Series B Round, Renovia is planning to create more products, including next generation Leva products. Series B Round is there to help finance testing and research in future products for Renovia. Renovia plans to use the funds to begin clinical trials to test the effectiveness of their products. The $42 million was made up of $32.3 billion from Series B Round and $10 million of venture fee debt.
Marc Beer is co-founder of Renovia. Beer also serves as chairman and CEO of Renovia. He was educated at Miami University in Oxford, Ohio and holds a bachelor’s degree. Beer has 25 years of experience is biotechnology and pharmaceuticals. In August 2016, Beer, Dr. Ramon Iglesias, and Yolanda Lorié founded Renovia, Inc. The company has its headquarters in Indianapolis, Ind, Renovia has offices in Tampa, Fla, Orlando, Fla, and Nashville, Tenn. Renovia uses the Japanese business philosophy Kaizen. Kaizen means change for the better. Renovia plans to challenge the status quo. Why stick with what works fine for now when you can always do better? Think before acting, and anticipate what might be the result of every plan. Not only does Kaizen work in making improvements for industry, it can help a person make personal improvements to be more effective.
Marc Beer has a grown son and daughter. In 2008, his wife, Jennifer Beers passed away suddenly from a pulmonary embolism. The couple was married for 18 years. Learn more : https://www.slideshare.net/MarcBeer