Renovia Announced Closing of 42.3 Million Dollars of Series B Funding
Renovia is a company that is committed to the discovery and delivery of the first-line digital therapeutic and diagnostic gadgets for all women suffering pelvic floor disorders. Renovia recently announced the success of 42.3 million US Dollars in financing. The amount includes 10 million US Dollars in venture debt and 32.3 million dollars in Series B Equity. Any further amount from the funding will be directed towards support of Renovia’s product development pipeline, clinic trials, future commercial launches, and corporate development.
Ascension Ventures and Perceptive Advisors led the funding of Series B with participation from various companies such as Inova Strategic Investments, Longwood Fund, Western Technology Investment, Cormorant Asset Management, and OSF Ventures. BayCross Capital Group portrayed as Renoivia’s advisor.
As the Co-Founder, Chairman, and CEO of Renovia, Inc., Marc Beer had to make some briefing during this closure announcement. He noted that they are glad and thrilled with the support shown by various companies. According to Marc Beer, Renovia is a group that majors in leading healthcare investors with common goals and objectives as theirs. These goals range from better diagnose, excellent treatment, and improvement of the lives of millions of women suffering from pelvic floor disorders. Marc pointed out that the combination of the existing and new financial investors with the participation of the top three integrated health networks matches Renovia’s vision of clinical and commercial.
Marc Beer added that combination of a digital health platform with their proprietary and innovative sensor technology and form factors would assure their dear esteemed customers’ valuable data. This data will help them initiate new treatment options, instill tremendous knowledge and comprehension of pelvic floor disorders, and finally reduce the costs of long-term healthcare. Marc stated that the funding acknowledges the great value in their innovative digital diagnostic and therapeutic product line. They are planning to incorporate them in the treatment of pelvic floor disorder and Urinary Incontinence.
Urinary Incontinence symbolizes a universal and taxing global condition, which affects approximately 250 million women in the whole world. Since its establishment, Renovia is interested in introducing a product line with diagnosis and therapeutically capability to incredibly impact women lives positively. An already existing ‘Renovia’s FDA-cleared device has aimed mechanism of action which separates and directs levator ‘plate’s optimal movement.
Both the device and the entire product line controls the patient-based state-of-the-art Apps and data management technology. It helps them provide explicit, cost-effective methods of treatments of the weakened pelvic floor muscles while gathering feasible progress and compliance data of ‘women’s pelvic health. In 2018, Renovia involved critical members in the senior leadership. It led to the for appointments of Samantha Pulliam, Managing Director as Chief Medical Officer, Jessica McKinney as VP of Medical Affairs and Clinical Advocacy, and lastly, Jim ‘O’Connor as the General Counsel.
Renovia was formed to produce and commercialize products for proper high-end diagnosis and treatment. A step that would, in turn, enhance the condition that specifically major with quality of life for millions of women suffering from pelvic floor disorders. The technology employed by Renovia enables treatment through precise visualization of the movement of the pelvic floor in practical during pelvic muscle training while controlling utilization and progress after some time.
As an organization that specializes with the health of women, Renovia is working under scalable and cost-effective care and treatment for the pelvic floor disorders offered through the power of digital health.
Renovia introduced Leva, a Pelvic Digital Health System. The device targets weak pelvic floor muscles and uses BlueTooth technology to strengthen t them. It has two machines, Pelvic Digital Health System and EmbaGYN Pelvic Floor Exerciser. The primary goal of the tools is to improve the pelvic floor muscles. As a result, the patient can now experience improved health and symptom relief of the urinary inconvenience.
The completion of the 42.3 million US Dollars financing of series B marks a great achievement by Renovia. All credit goes to Marc Beer and the Management that has seen the company make significant steps towards success. Health comes before wealth, and women can now enjoy excellent work. No one can buy good health, but proper treatment improves the status leading to great relief.
