“How Does Marc Beer Intend To Use the $42 Million in Advancing Women Health? “
Marc Beer is the co-founder of Renovia Inc. alongside Ramon Iglesias and Yolanda Lorie. The Boston based Biotechnology Company has for the past two years been developing different diagnostic and therapeutic treatment products for the treatment of pelvic floor problems. The health disorder that primarily affects women, and also known as urinary incontinence, is estimated to affect over $250 million women in the world.
Barely 24 months after establishment, Renovia had already come up with a diagnosis and treatment for the pelvic floor health problem. A big percentage of the success here is credited to Marc Beer who is a blend of rich experience, expertise in pharmaceuticals helped speed up this process. The company’s first product referred to as Leva was approved by FDA in April for distribution and administration to patients. Renovia is expected to continue creating more products to address this disorder.
Raising $42 million
Recently, Marc Beer raised $42 million to help fund this startup healthcare company advance its research and drug development. The Series B round funding helped raise over $32 million in equity capital and $10 million in form of venture debt. Marc mentioned that these funds will be used in advancing clinical testing and pushing the different products they have in the pipeline towards FDA approval. More importantly, the funds will help speed up the finalization of the development and release of a new version of the Leva drug.
While March Beer did not speak choose not to reveal much about their pipeline products, he expressed his gratitude for the financial support offered by the leading healthcare investors. These include Longwood fund and OSF ventures and their contributions will help come up with better diagnostic tools for effective treatments and improvement of women health.
Marc Beer’s Background
Marc Beer has had close to three decades of experience in the biotechnology and pharmaceutical industry, most of which was spent in the development and commercialization of drugs and medical inventions. Before co-founding Renovia, he had worked with the Michigan-based Milliendo Therapeutics, ViaCell and Abbott Laboratories. He graduated with a Bachelor of Science from Miami University, Ohio.
Marc has had an excellent track record in technology and medicine and rose to prominence in the health industry after founding ViaCell. He helped manage the firm as its Chief executive officer and within two years, it had over 300 employees before going public in 2005. Marc would also play a key role in facilitating its acquisition by Perkin Elmer in 2007.
Beer also worked in various companies in the technology and medical world where he managed different projects including sales and marketing. The positions that he has held in his career were not only related to diagnostics and pharmaceutical products, but they also helped him know what people want and need most. He is using that experience in his work at Renovia Inc. Learn more: https://renoviainc.com/leadership/