The funding consisted of $32.3 million in Series B equity and $10 million in venture debt.
“We are excited to support Renovia’s vision to improve the lives of millions of women affected by pelvic floor disorders. Marc Beer and his team have built an extraordinary culture, potentially game-changing technology, and formidable clinical and commercial strategies,” said Paul Enderle, Managing Director of BayCross Capital.
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 (“WTI”). WTI also provided the venture debt. Proceeds from the funding will be used to support Renovia’s clinical trials, product development pipeline, corporate development, and future commercial launches.
Securities transactions, including a portion of the equity and all of the debt, were conducted through StillPoint Capital, LLC (“StillPoint”), a FINRA/SIPC licensed broker-dealer.
About BayCross
BayCross Capital Group, LLC is a consulting and an investment firm dedicated to providing consulting and advisory services to rapidly growing emerging and middle market companies. The firm was founded in 2008 and focuses on companies operating in the technology, alternative energy, and healthcare sectors. BayCross is managed by Paul Enderle and Eric Brown, both of whom are also registered representatives with StillPoint.
About Renovia
Renovia was formed to develop and commercialize products for better first-line diagnosis and treatment to improve the condition-specific quality of life for millions of women with pelvic floor disorders. Renovia’s technology enables treatment via precise visualization of pelvic movement in real-time during pelvic floor muscle training, while monitoring usage and progress over time. As a women’s health organization, Renovia is in pursuit of scalable and cost-effective care for pelvic floor disorders delivered through the power of digital health.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180924005059/en/
Source: BayCross Capital Group, LLC
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http://www.businesswire.com/news/home/20180924005059/en
