SAN RAMON, Calif., June 13, 2019 (GLOBE NEWSWIRE) -- R2 Dermatology (“R2”) announced today that it has entered into an exclusive distribution agreement with China’s Huadong Medicine Company Limited (“Huadong”) for the Asia-Pacific Region. In exchange, Huadong will make an equity investment in R2 Dermatology to fund R2’s next phase of product and market development.
“We are delighted to have found a superb strategic partner in Huadong and particularly excited to work with their entire team to enter the Asia-Pacific Region, the most robust market in the world for our portfolio of cold-based treatments for both aesthetically lightening the normal pigmentation of the skin and the reduction and elimination of hyperpigmentation of specific problem areas of the skin due to aging, sun damage, and/or genetics,” said Gordie Nye, Chief Executive Officer of R2.
R2 Dermatology was founded in late 2014 by Pansend Life Sciences (a subsidiary of HC2 Holdings, Inc.) and Blossom Innovations. Since inception, R2 has generated substantial safety and efficacy studies in several multi-center clinical studies both in North America and Asia. In addition, R2 has received two US FDA 510(k) clearances for its clinical stage devices. Powered by licensed IP from Blossom Innovations and Massachusetts General Hospital, R2’s platform will provide a unique patient experience: safe, comfortable treatments with no downtime and predictable, efficacious outcomes.
“Our scientific founders from MGH -- Drs. Rox Anderson, Dieter Manstein, and Henry Chan -- are among the most admired innovators in the world of aesthetic dermatology. We can’t wait to deliver another game-changing treatment of theirs to the market,” said Mr. Nye.
Solebury-Trout served as investor relations advisor to R2 Dermatology in conjunction with this transaction.
About R2 Dermatology
R2 Dermatology is a portfolio company within Pansend Life Sciences, Ltd., a subsidiary of HC2 Holdings, Inc. Located in San Ramon, California and founded in late 2014, R2 Dermatology is developing medical devices for the treatment of aesthetic and medical skin conditions, including a skin lightening and skin-tone evening product utilizing “cold technology”. R2 Dermatology has received market clearance from the U.S. Food and Drug Administration for its second generation device, the R2 Dermal Cooling System, a cryosurgical instrument intended for use in dermatologic procedures for the removal of benign lesions of the skin, based on exclusive licensing rights to a novel technology invented by Blossom Innovations and Massachusetts General Hospital, teaching affiliate of Harvard Medical School. Learn more about R2 Dermatology at www.r2derm.com.