Renovia Inc.’s Startup Mastermind

Marc Beer is a successful business man who has more than 25 years of experience with the development of pharmaceuticals, devices, and diagnostics for the public. Marc has been a CEO at a number of major corporations all in the market of his expertise. In 2000, one of the first companies he worked with known as ViaCell, where he became the founding CEO. ViaCell is most famously known for the development of umbilical cord blood stem cells. While being the CEO over the course of 7 years he helped the company grow drastically to having more than 300 employees. Marc Beer has had a line of success through his business ventures, but his next mentioned ended without as much success. He is most known for being the CEO Aegerion Pharmaceuticals. While he was the CEO he helped develop a product known as Juxtapid that was used to treat a rare high cholesterol disorder. Though he has a lot of high points in his career he did have a setback with his description of the product. The setback revolved around an incident where Marc Beer was accused by the FDA for giving false hope that Juxtapid can successfully treat heart conditions. The company was eventually ordered to pay $40 million for improper marketing of Juxtapid and they were then bought by a Canadian Biotech Company known as Novelion Therapeutics. Renovia Inc. was founded by both Marc Beer and Ramon Iglesias, MD, and Yolanda Lorié in 2016. Renovia Inc., based in Boston, has now raised $42 million for pelvic floor disorders greatly raising awareness and relief for women who have dealt with the issue. The startup is currently working on releasing different therapeutic and diagnostic products for a pelvic floor disorders that effect millions of women worldwide like urinary incontinence. Moreover, the first product they released known as Leva had been FDA approved since April 2018. This is very promising for investors like the investing firm known as The Longwood Fund which mainly focuses on investing in new healthcare products and research. They money invested will go towards developing new products and a newer version of Leva. Their whole goal is to make pelvic floor disorder products cheaper to continue to help all women who suffer from the issue. This is a story that is very redeeming and can show the world that one small mistake no matter purposeful or not can still lead to good. With these recent announcements over 250 million women worldwide will now have the help from products like Leva and future products that are currently being developed for other pelvic floor disorders. Learn more : https://www.slideshare.net/MarcBeer