SAN RAMON, Calif., Feb. 3, 2021 /PRNewswire/ -- R2 Technologies Inc. ("R2") has received $10 million in funding from Huadong Medicine Company Limited ("Huadong") as the third and final tranche of Huadong's $30 million Series B equity investment. R2's post-money valuation is $113 million which is a predetermined valuation established at the time of the Company's Series B close in June 2019. The funds will be used to launch R2 Technologies' first to market innovations: Glacial Rx™ is the first revolutionary CryoAesthetic™ age spot removal treatment, FDA-cleared to remove benign lesions and temporarily reduce pain, swelling and inflammation; and Glacial Spa™ is a unique cooling experience that brightens and evens skin tone.
Established in 1993, Huadong (SZ: 000963) is a leading public Chinese pharmaceutical company. In exchange for its equity investment in R2, Huadong receives exclusive distribution rights for R2's products in the China/Asia-Pacific market and further expansion of its global aesthetics business.
"With Huadong's latest investment, we are able to further our development and commercialization initiatives including the distribution of Glacial Rx to US aesthetic providers and Glacial Spa to high-end spas in China," said Tim Holt, R2 Chief Executive Officer. "Huadong's commitment to R2 is a testament to our unmatched offerings to the aesthetics industry. We are proud to have such a reputable organization backing our mission."
Glacial Rx is the first and only technology that uses Cryomodulation™ to improve skin appearance. Using patented cooling technology to freeze melanin at the source, the gentle treatment soothes the skin while removing unwanted dark spots, revealing brighter, more even skin. Developed by the pioneers of CoolSculpting and Fraxel, Glacial Rx was named among '2021 Launches Doctors are Buzzing About' according to RealSelf, the leading and most trusted source to educate on cosmetic procedures. Most recently, R2 was named winner of the 2nd Annual Aesthetics Tech Summit LaunchPad SBDC, hosted by Octane, a company committed to making resources, capital and mentorship available to tech and medtech startups.
R2 is actively taking orders for aesthetic providers who want to offer the new Glacial Rx treatment in-office. To learn more about R2 Technologies and upcoming launches, visit glacialskin.com and follow the company on LinkedIn.
About R2 Technologies: Headquartered in Silicon Valley, R2 Technologies is a world leader in CryoAesthetic™ medical devices. In 2014, Pansend Life Sciences, LLC and Blossom Innovations, LLC founded R2 Technologies and licensed exclusive intellectual property from Massachusetts General Hospital. In 2019, R2 brought on strategic partner, Huadong Medicine Co., Ltd. In close collaboration with these partners and the brand's scientiﬁc founders and world-famous luminaries in aesthetic medicine, Drs. Rox Anderson, Dieter Manstein, and Henry Chan, R2 focuses on the development, engineering, clinical research, and commercialization of groundbreaking technologies for aesthetic providers and consumers. Since inception, R2 has raised $62 million in ﬁnancing led by a world-class team of experts within the aesthetics industry.
SOURCE R2 Technologies LLC