The biotech entrepreneur and founder of Renovia, Marc Beer has been making waves in the biopharmaceutical and healthcare sector with his new promising ventures. This biotech entrepreneur has already raised $42 million in his recently launched Series B financing for his biopharma startup, Renovia. Beer’s startup is specializing in providing healthcare products and solutions that are focused on addressing the different health problems that women around the world are facing. His Series A financing for his startup was very successful and led to the development of Leva, a product meant to help women suffering from pelvic disorders. The FDA approved this revolutionary health product in April.
Bettering the success
Marc Beer and his biotech startup are looking forward to using the funds from this Series B financing to come up with the second generation of Leva. On top of this, the biotech startup is currently developing three other diagnostic and therapeutic products to help women suffering from pelvic disorders. Globally, it is estimated that more than 250 million women suffer from pelvic disorders. The most common and most notorious of these disorders is urinary incontinence. This biotech entrepreneur said that he hoped that his company’s efforts help millions of women around the world suffering from pelvic disorders live normal lives. Beer also said that his company was also doing research on other health problems that women faced and he expected that a diagnostic and therapeutic solution would be found for them.
An investor’s paradise
Of the $42 million that was raised by Marc Beer through this Series B financing, $10 million came from venture debt, and the remaining $32 million came from healthcare sector investors. The Longwood Fund, Perspective Advisors and Ascension Ventures made up the bulk of this investment. Beer, while announcing the successful raising of the funds also said that he was not only looking to make the world a better place health-wise but also create an investor’s paradise. He went ahead to state that his company had come to an understanding with the Longwood Fund, which focuses its investments in the healthcare sector and they are likely to have a long very fruitful business relationship.
About Marc Beer
The biotech entrepreneur, Marc Beer along with his business partners Ramon Iglesias and Yolanda Lorie in August 2016 founded Renovia. Marc is one of the most decorated and most successful executives in the biotech sector. He boasts of more than 25 years working in the development and commercialization of revolutionary products. Among his previous successful ventures was ViaCell where he was the Founding CEO. Under his leadership, the company quickly grew to have more than 300 employees. ViaCell went public in 2005 five years after Marc joined it. Learn more: https://www.slideshare.net/MarcBeer