Renovia, a women-led company that develops digital therapeutics for female pelvic floor disorders, today announced the closing of an additional round of equity funding totaling $17 million. The financing included new investor, Parian Global Management, along with existing Renovia investors, including Perceptive Life Sciences, Longwood Fund, Ascension Ventures and OSF Ventures.
“We’re very pleased to continue working with such an accomplished group of healthcare investors, which now includes Parian Global Management,” said Eileen Maus, CEO for Renovia. “It’s been clear since our first discussion with Zach and his team that they understand our markets and the critical need for better first-line care. Parian Global has joined us at a very exciting time in Renovia’s history, and we look forward to working with them as we continue to make first-line treatment for urinary incontinence accessible to the 20M women in the U.S. who live with bladder leaking and urgency.”
Renovia will use the proceeds to support the national commercial launch of its flagship product, the leva Digital Therapeutic, across 50+ OB/GYN-focused territories in the U.S. The national launch, which began in early April, will improve access to first-line care for both women living with bladder leaks and urgency and OB/GYNs seeking novel ways to connect with them. The proceeds of the fundraising will also accelerate additional clinical development related to the use of Renovia’s unique motion-based mechanism of action for the treatment of urinary incontinence and other pelvic floor disorders.
“Renovia and the leva Digital Therapeutic are creating the gold standard for addressing the unmet medical needs of tens of millions of women suffering from urinary incontinence and other pelvic floor disorders,” said Zach Miller, Chief Investment Officer of Parian Global Management. “Until now, the large and chronically underserved population of women whose symptoms are not severe enough to warrant surgical intervention has been forced to mask the problem with limited effective treatment options. Renovia is filling this void with a clinically validated and technology-enabled product platform to help patients in the privacy of their own homes, while simultaneously ensuring a woman’s doctor remains central to her care. We believe this model represents the future of healthcare, and we are thrilled to be partnering with a proven leadership team at Renovia whose track record of driving clinical and commercial change to improve the standard of care in women’s health positions the company to address this tremendous need with a scalable, technology-first approach.”