Renovia Inc. was founded in the month of August 2016. The c-founders of the company are Marc Beer and William Dull who serve in the positions of Chairperson and Chief Executive Officer, and Chief Commercial Officer respectively. Renovia is a start-up company in the sector of biotechnology that has been working towards the discovery of innovative medical solutions as well as the combination of technology and digital methods of treatments. The company has been specifically focused on the pelvic related disorders that women suffer from. The first FDA approval for the company was in April 2018 when the product named Leva was approved.
About the Leva application
Leva is an application that uses Bluetooth technology to encourage and monitor strength training. Strength training is a form of therapy that is aimed towards treating disorders of the pelvic floor. The application uses technology to optimize the movement patterns while at the same time isolating the weak levator muscle plates in the pelvic area. By using Bluetooth technology, the application is able to get real-time visualization that can perform coaching sessions. This is just one of the many products that Renovia is working one.
What is next for Rennovia after the success of Leva?
Following the success of Leva, Renovia Inc. has been carrying out fundraisers to fund their next projects in the same sector. Through a series of fundraising that included series B equity which raised more than 32.3 million dollars and an additional debt venture that made 10 million dollars for the company resulting in 42.3 million dollars. This money is aimed towards financing the acquisition of new equipment that will be used in the diagnostic and clinical trial endeavors of the company, the development of other wearable devices like Leva and more research into women’s pelvic disorders. Among the companies that took part in the Series B equity venture is Longwood fund which has invested a huge sum in the company.
About the CEO and Co-founder of the company, Marc Beer
Marc Beer has been working in the biotechnology industry for more than two and a half decades. He has establishes a number of successful companies in this industries and also leads some very prestigious firms in roles like Chief Executive Officer and chairperson. Marc Beer has a very special interest in disorders of the pelvic floor that are affecting more than 250 million women globally hence the research focus of Renovia. He also serves the company as the chairperson of its board of governors.