Renovia raises $42M to fund digital health solutions for pelvic floor strengthening | Digital Science
Digital therapeutics company Renovia has raised $42.3 million in new financing for its diagnostic and therapy devices for women with pelvic floor disorders and is planning to further its clinical trials, product development, corporate hires and commercialization plans.
The funding includes $32.3 million in series B equity and $10 million in venture debt. The round was led by Perceptive Advisors and Ascension Ventures, alongside Longwood Fund, Inova Strategic Investments, Cormorant Asset Management, OSF Ventures and Western Technology Investment.
“This mix of existing and new financial investors, and the participation of three leading integrated health networks with whom we can partner, is so well-aligned with Renovia’s clinical and commercial vision,” Marc Beer, the Boston-based company’s co-founder, chairman and CEO, said in a statement.
Renovia’s existing FDA-cleared training program and accompanying Bluetooth device isolates and directs optimal movement of the levator plate muscles, through real-time visualizations and coaching sessions for pelvic floor muscle training at home via a smartphone app.
The company’s pipeline also includes a new generation of its cleared device, the Leva, in clinical trials, as well as extended wearables and in-office diagnostic equipment in early development. Pelvic floor disorder symptoms can include pelvic pain, pressure, urinary incontinence and incomplete emptying.
“Combining our innovative and proprietary sensor technologies and form factors with a digital health platform will give our customers valuable data to inform new treatment options, drive greater knowledge and understanding of pelvic floor disorders, and ultimately lower long-term healthcare costs,” said Beer.