R2 Technologies - founded by HC2’s portfolio company Pansend Life Sciences - Offers Innovation in Skin Resurfacing with FDA-Approved Cryo-Based Technology
R2 Technologies seeks to capture a significant share of the $22 billion skin tone evening, lightening and brightening products global market
NEW YORK, Jan. 05, 2021 (GLOBE NEWSWIRE) -- HC2 Holdings, Inc. (“HC2” or “the Company”) (NYSE: HCHC) today announced that Glacial Rx, an FDA-approved device developed by R2 Technologies, was recently featured in RealSelf as one of “the 2021 Launches Doctors are Buzzing About.” R2 Technologies is an aesthetic medical device company dedicated to helping people experience amazing skin founded by HC2’s portfolio company Pansend Life Sciences.
The article, From Groundbreaking Cellulite Treatments to New Injectables, These Are the 2021 Launches Doctors Are Buzzing About, stated that Glacial Rx is the first device to utilize unique, cold-based technology to eliminate unwanted pigment.
Dr. Arisa Ortiz, MD, FAAD, Director of Laser and Cosmetic Dermatology at UC San Diego, noted in the article “[t]he cool thing about this device is that you can titrate [or adjust] the settings to basically have no downtime,” and that “because the temperature and exposure times are so precisely controlled, there is much less risk of [pigmentary changes] compared to standard liquid nitrogen.”¹ RealSelf is a healthcare marketplace where consumers research aesthetic treatments and connect with physicians.
Glacial Rx is expected to launch in 2021 and offers physicians an innovative method for treating aesthetic and medical skin conditions. The revolutionary system incorporates a first-of-its-kind dermal cooling technology as opposed to conventional heat-based laser treatments which can often cause inflammation and side effects. R2 seeks to capture a significant share of the $22 billion skin tone evening, lightening and brightening products global market.
HC2 Holdings, Inc. (NYSE: HCHC) has a class-leading portfolio of assets primarily in Infrastructure, Life Sciences, Spectrum, Insurance and Clean Energy. HC2 is headquartered in New York, New York and through its subsidiaries employs 2,864 people.
About Pansend Life Sciences
Pansend Life Sciences, LLC is the life sciences subsidiary of HC2 Holdings, Inc., focused on the development of innovative healthcare technologies and products. Pansend’s portfolio companies include R2 Technologies, which is developing medical devices for the treatment of aesthetic and medical skin conditions and has received FDA approval for its initial device; MediBeacon, whose proprietary platform technology is the foundation of its development of a non-invasive real-time monitoring system for the evaluation of kidney function; Triple Ring, a leading edge research, engineering and development firm which specializes in regulated medical devices, in vitro diagnostics & life sciences tools as well as imaging, and industrial applications; and Genovel Orthopedics, which is developing novel partial and total knee replacements for the treatment of osteoarthritis of the knee.
In 2018, Pansend’s portfolio company BeneVir was acquired by Janssen Biotech, Inc. (Johnson & Johnson) for up to $1.04 billion.
About R2 Technologies
Headquartered in Silicon Valley, R2 Technologies is an aesthetic medical device company dedicated to helping people experience amazing skin. R2 has developed an FDA cleared, breakthrough CryoAesthetic procedure cleared for removal of benign lesions of the skin by precisely controlling time and temperature. In 2014, Pansend Life Sciences, LLC and Blossom Innovations, LLC founded R2 Technologies and licensed exclusive intellectual property from Massachusetts General Hospital ("MGH"), a teaching affiliate of Harvard Medical School. In 2019, R2 closed its Series B "Commercialization" round with its strategic partner, Huadong Medicine Co., Ltd. Working in close collaboration with these partners, in conjunction with our scientiﬁc founders and world-famous luminaries in aesthetic medicine, Drs. Rox Anderson, Dieter Manstein, and Henry Chan, R2 is focused on engineering, clinical research and commercialization of groundbreaking aesthetic technologies. Since its inception, R2 has raised $60 million in ﬁnancing led by a world-class team with experience launching successful aesthetic innovations.
Paul Caminiti/Pam Greene/Luc Herbowy
Matt Chesler, CFA
¹ Permission to use quotation was neither sought nor obtained.