Women’s health has become an increasingly important issue in the United States today. Many companies are starting to invest in technologies and medical procedures which would allow the development of new treatments for diseases that targets mostly women. Marc Beer, the former chief executive officer of a pharmaceuticals company, have thought about this issue and decided to establish a startup company called Renovia Inc., which is based in Boston, Massachusetts. The new startup will develop products that aim to treat pelvic floor disorders, and according to Marc Beer, the startup has already gathered the first phase of funding from several investors. They now have a total of $42 million funds, with $10 million of the fund coming from venture debt.
Marc Beer also revealed that his new startup company would be investing in the production of therapeutic products that would prevent its users from getting frequent urinary incontinence. According to the researchers, once the product of Renovia Inc. is released to the market, more than 250 million women around the world would benefit greatly from it. Leva, which is the first product created by Renovia Inc. has been approved by the FDA back in April 2018. The company aims to develop another product later this year, and they are hoping to bring Leva into the drugstores across the country before the year ends.
Renovia Inc. is still gathering additional funds for their future projects. One of the organizations which showed their support towards the efforts of Renovia Inc. would be the Longwood Fund, a healthcare company that invests in firms that develop products that can be used as a treatment. They invested with the company because they believed in its capabilities, and as they transferred the fund needed by Renovia Inc., the startup announced that they are ready to test four more additional diagnostic and therapeutic products. Marc Beer expressed his gratitude towards the businesses and organizations which are sending their help through financial means, and he promised the company’s investors that Renovia Inc. would continue with its goals of enhancing women’s health around the world.
Marc Beer stated that the continuous support coming from firms like Longwood Fund inspires them to innovate and develop more treatments for the benefit of the women. He is envisioning that the future would hold a lot of medical advancement because of the assistance that the field of medicine is getting from their benefactors. He is also delighted to announce that the new developments introduced by Renovia Inc. would cut the costs of health care for women, and it could also save lives. Marc Beer stated that he is excited to see what Renovia Inc. can do with all of the funding that it received from generous companies and organizations that support the development of new treatments. Learn more : https://www.crunchbase.com/person/marc-beer