Many businessmen may have crumbled under the pressure after facing many obstacles throughout their career but Marc Beer has never let a little adversity get in his way as evidenced by his resilience over the years. So how has he managed to maintain his success throughout his long and
tortuous career? He recently agreed to talk about how he got to where he is today. In the early ’80s, he was a student at Miami University when he decided to major in business. After receiving his bachelor of science in 1987, he was offered his first job at a business called Abbott. Whilst there, he worked in their sales department for about six years before becoming a corporate officer at a company called Biostar. He served in this role for two years and then moved on to Genzyme.
He worked as their vice president of global marketing for about four years before establishing his own company in May of 2000. Based out of Cambridge, the company collects stem cells from the umbilical cords of mothers who recently gave birth and analyzes them to try and uncover vaccines and cures for various types of illnesses. At one point, the company employed close to 500 employees and was worth upwards of $300 million by the time he decided to close up shop and sell the company in 2007. While he was anxious to move on to his next venture, those plans were put on hold upon the tragic demise of his wife at age 42 due to a pulmonary embolism.
After the funeral, he was forced to step up and become the primary guardian of his children, giving them rides to and from school and helping them with whatever they needed but it wasn’t long before his daughter made him realize he needed to return to the business world and resume helping people. So in 2016, he partnered with Dr. Ray Iglesias and Yolanda Lorie to become the chairman, CEO, and co-founder of Renovia. The primary goal of the company is to develop and perfect medical equipment and tools to help people who suffer from various illnesses and diseases.
One of the diseases they are attempting to treat happens to affect close to a quarter of the female population nationwide. The company has already thrived, having recently received a $32 million grant for research and development and an additional $10 million for financial ventures.
In fact, they recently had their first product receive a seal of approval from the FDA. He recommends that future entrepreneurs focus on having a solid financial strategy, learn from their past errors and always try to give back to the community as much as they possibly can.