The Completion of Renovia $42.3 Million Series B Financing

Renovia was founded in 2016 with the aim of commercializing and developing products that helped ensure remarkable diagnosis as well as the treatment that improves the quality of life for millions of women suffering from the specific condition especially those with pelvic floor disorder. It is dedicated to the discovery and delivery of first-line digital diagnostic and therapeutic devices. They made an announcement recently about the close of 42 million in financing where 10 million was in venture debt, and 32.3 million was in Series B equity.

 

The proceeds gained from this funding will be used to assist various Renovia clinical trials, corporate development, product development pipeline, and any future commercial launches. During the series B financing, BayCross Capital Group was the adviser to Renovia while Perceptive Advisers and Ascension Ventures led the financing process and with the participation of Inova Strategic investment, Longwood fund, OSF Ventures, Cormorant Asset Management, and Western Technology Investment.

 

Marc Beer  is the CEO, Chairman and Co-Founder of Renovia said that they are very excited about having the support of some of the leading healthcare investor who are also a part of the mission to see that the millions of women who are affected by various pelvic floor disorder receive better diagnose and improved treatment.

 

Marc Beer also stated that they are seeking to combine innovation, form factors as well as propriety sensor technologies to come up with a digital health platform all in an effort to bring across valuable data to show new treatment methods and to increase the knowledge concerning the disorder and find a long run solution to reduce the healthcare costs. There is tremendous value in the diagnostic product pipeline, and the innovative digital therapeutic and the funding recognizes that there is a lot of that there is a lot that can come from the treatment of pelvic floor disorders which includes urinary incontinence.

 

Urinary Inconsistence affects close to 250 million women worldwide which makes it a common and tough condition. Renovia is committed towards coming up with a product pipeline that offers both therapeutic and diagnostic potential that would be of great help to women who are affected by this condition.

 

In an interview with Ideamensch, Marc Beer was asked to discuss one thing that he does over and over again as an entrepreneur and can recommend everyone else to do. Marc Beer said that it’s all about great focus towards talent acquisition where one should prefer and engage best individuals, organize them most effectively and efficiently. Then consistently look into human capital that is required to accomplish whatever that you are striving to achieve. He also noted that most companies usually fail at this. This is all about incorporating the best and the right talent all through the organization. Learn more: https://renoviainc.com/leadership/

 

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