Records show that more than 250 million women in different parts of the globe suffer from pelvic related disorders at certain points of their lives. These disorders include urinary incontinence. These disorders result in pain pressure and incomplete emptying of the bladder that is the main cause of urinary incontinence and frequent urination. Women who suffer from such disorders also have a hard time partaking in sexual activities due to the pain that comes with the illnesses. There have been many companies in the biotechnology industry that are working towards coming up with treatments and therapies to treat these illnesses. One of these companies is Renovia which has in the past been able to get an FDA approval for one of its product aimed at helping the therapy process of treating women pelvic disorders. This product is an application that comes with a Bluetooth device. This application is used in monitoring and encouraging strength training by isolating the weak levator plate muscles and guiding ideal movement patterns in the training. Strength training is a therapeutic approach to the treatment of pelvic disorders. The product is called Leva and it got an FDA approval in April 2018.
Funding more research and development in the treatment of women’s pelvic related disorders
Following the FDA approval of Leva, Renovia has begun an active program to dig deeper into the issue and come up with more solutions to the disorders. The company Chief Executive Officer embarked on a project to acquire funding for their next project which resulted in him rising up to 42.3 million dollars. This money was raised through a round of fundraising that included 10 million dollars in venture debt and the remaining 32.3 million dollars was obtained through series B equity. The company plans to spend the money on the development of diagnostic and training devices as well as conducting trials and propelling FDA approvals and also commercialization. Marc Beer was a huge part of the fundraising process. Learn more: https://www.crunchbase.com/person/marc-beer
About Marc Beer
Marc Beer is a graduate of the University of Miami where he got his BS degree in the year 1987. Since then he has been involved in the biotechnology sector for more than two and a half decades. He has found a number of companies in this sector and served in leadership roles in several firms in this industry as well including Aegerion Pharmaceuticals where he was the CEO for five years. He founded Renovia in the year 2016 and has been the chairman and CEO of the company since then.