Boston-based Renovia has just brought in a rather sizeable financing. The company has raised about $42.3 million in a series B round.
The financing will accelerate clinical research, development and new digital therapeutic device launches that are focused on pelvic floor disorders. The series B financing was led by Perceptive Advisors and Ascension Ventures, with participation from Longwood Fund, Inova Strategic Investments, Cormorant Asset Management, OSF Ventures and Western Technology Investment. BayCross Capital Group acted as an advisor to Renovia.
“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,” Marc Beer, Co-Founder, chairman and CEO of Renovia, said in a release. “This funding recognizes the tremendous value in our innovative digital therapeutic and diagnostic product pipeline that we plan to bring to the treatment of pelvic floor disorders, including urinary incontinence.”
Renovia said its technology enables treatment via precise visualization of pelvic movement in real-time during pelvic floor muscle training, while monitoring usage and progress over time.