Pelvic floor disorder is a problem that has been affecting women across the globe. It is estimated that close to 200 million women have in one way or another suffered from this dysfunction. Chaired by Marc Beer who also happens to be the co-founder, Renovia Inc., commonly known as Renovia is dedicated to free women from the chains of pelvic floor dysfunction.
Pelvic floor disorder occurs when the muscles of the pelvic floor are rendered weak and weary. Women that experience this problem may have difficulties with urination or bowel movements. This disorder only affects women and as they age, their chances to get affected increases as well. Learn more: https://www.slideshare.net/MarcBeer
Renovia has set aside funds that are meant to fund this fight against urinary incontinence. Just recently the company allocated close to $42.3 million to finance this project. Part of this money will be used to fund clinical trials that are run by the company. Some of the other finances will be channeled to corporate development, future financial projects and the development of products.
Of the total $42.3 million, $32.3 million was in Series B equity while the rest of the money was in the form of venture debt. Perceptive Advisors and Ascension Ventures led in the financing of the Series B equity. Special mention goes to Longwood Fund, Cormorant Asset Management, Western Technology Investment and BayCross Capital Group who specifically acted as the advisor to Renovia.
In a statement, Marc Beer, Co-Founder, Chairman and CEO of Renovia, expressed his excitement to have the support of this group that comprises of leading players in the healthcare field. According to Beer, these investors share the same vision with his company which is to change the lives of millions of women around the world that suffer from pelvic floor disorder. He added that “formation of a digital health platform through combining innovative and sensory technologies can give our customers valuable data to inform new treatment options, drive greater technology and understanding of pelvic floor dysfunction and lower long-term healthcare costs.”
Since its formation in 2016, Renovia has been in the leading front to develop a product that has the potential to positively impact the lives of the affected women. The company introduced the FDA-cleared device which helps in the isolation and directs optimal movement of the levator plate. Together with the full product pipeline, this devise is an example of the modern data management technology and patient-related applications that Renovia is using to provide real-time cost effective treatment. In addition, this technology helps the company to collect important progress data on women’s pelvic health.
Harnessing the power of digital health, Renovia is determined to help millions of affected women by providing cost-effective services for the pelvic floor disorder.