Renovia Inc. is a company that discovered and delivered the first-line digital diagnostic and therapeutic devices. These devices help in the diagnosis and treatment of pelvic floor disorders in women. Renovia received a funding of $ 42.3 million that would be divided into two. $10 million would go to the business debt, and the remaining $ 32.3 Million goes to the Series B equity. The funds would help in supporting future commercial launches, corporate development, product development process, and the company’s clinical tests. Perceptive Advisors and Ascension Ventures led the series B process assisted by OSF Ventures, Cormorant Asset Management, and Longwood Fund. Others were Inova Strategic Investments, Cormorant Asset Management, and Western Technology Investment. Renova’s advisor in the process was BayCross Capital Group. Learn more: https://www.linkedin.com/in/marcbeer
The Chairman and the Chief Executive Officer who is also one of the Renovia Inc. founders Marc Beer thanked the group for supporting the noble idea. He noted that the supporters were leading healthcare companies that share the Renova Inc.’s vision of offering better diagnostic procedures as well as treating and improving the lives of the millions of pelvic floor disorder victims. He added that the company was thankful to have the three integrated healthcare networks and financial businesspersons because they go together with Renovia’s commercial and clinical vision. Beer also noted that the proprietary and innovative sensor technologies with the modern digital platform would provide the best services to the customers. Additionally, the customers would get valuable data informing them on the availability of contemporary treatment options, help them understand and have more knowledge on the pelvic floor disorders.
Marc Beer started Renovia Inc. in August 2016 in collaboration with the Ramon Iglesias and Yolanda Lorié. They succeeded in financing the company with the help of various healthcare venture fund in the series A process. Beer formerly worked for Viacell and sat in the Board Directors of NASDAQ: ERYP, Erytech Pharma. At Genzyme, Marc Beer worked as the Vice President of Global Marketing. Before joining Genzyme, Marc Beer worked in the sales department of NYSE: ABT, Abbott Chemicals. He served in Emerging Companies Section Governing Board of BIO, Biotechnology Industry Organization among other positions, Marc Beer is a graduate Miami University of Ohio where he pursued his Bachelors of Science degree.
Dr. Clay Siegall acquired his bachelor’s degree in zoology from Maryland University before he proceeded to George Washington where he did his masters specializing in genetics. Apart from his skills in the medical field, the doctor has written several articles, blogs and magazines on cancer, genetics, antibodies and other trends in the health sector. And more so, Siegall has been on the frontline when it comes to raising capital for Seattle Genetics. His excellent leadership skills and passion for issues pertinent to health have been the primary factors that have led to the growth and success of Seattle. The doctor has previously worked with others paramedic institutions like; the National Institute of Cancer, Bristol-Myers, Alder which is a biopharmaceutical institution among others and this has helped improve his knowledge in the field. Clay Siegall is not only among the founders of Seattle genetics but also the firm’s current president. The biotech company mainly which was established in 1998 has been using antibodies to come up with drugs by putting the antibody under several processes of research and mixing it with other elements under optimum conditions. When ingested, the antibody takes the cancerous cells as hosts. Consequently, some of the infected cells undergo cell destruction while others undergo the process of agglutination. The company hopes that with time it will be elevated into the pharmaceutical category due to its consistent research and experiments on drugs. The Seattle’s fraternity has remain firm regardless of the frequent challenges and perils which face firms in this field. The team believes in working in unison to come up with remedies and solutions to challenges facing them. And, ideally, the 18-year old firm has no plans of decamping like other firms do when faced with crises. At the moment, Seattle is known for being the largest firm which deals in Biotech in entire Washington. And, more so, with the current trend in its performance, the firm expects a radical increase in its market value as well as an increase in the number of employees. Consequently, the firm’s output will be increased and this will, in turn, lead to an increase in the profit margin and sales. The biotech company’s fame grew soon after the launching of Adcetris which is aa drug that is used in the consistent treatment of Hodgkin Lymphoma. Hodgkin Lymphoma is a type of cancer that affects the lymph glands and the lymphatic system before it rapidly spreads to other organs in the body like intestines and the liver. Currently, the drug is still under extensive test stages and there are premonitions of its sale commencing soon. The global firm has shown interest in re-establishing its international trade by setting up offices Switzerland. The firm had sold its rights on international marketing to Takeda so as to invest the cash in the Adcetris project research.