BOSTON--(BUSINESS WIRE)--BayCross Capital Group, LLC (“BayCross”), a consulting and advisory firm specializing in capital optimization as well as debt and equity raises, is pleased to announce that it advised Renovia Inc (“Renovia”), a company dedicated to discovering and delivering first-line digital therapeutic and diagnostic devices for women with pelvic floor disorders, on its $42.3M financing. 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.