HC2 Holdings Portfolio Company R2 Technologies disrupts the
NEW YORK, April 7, 2021 (GLOBE NEWSWIRE) – HC2 Holdings, Inc. (“HC2” or “the Company”) (NYSE: HCHC) today announced that its holding company R2 Technologies Inc. (“R2”) was the leader in CryoAesthetic ™ medical devices, launched Glacial Rx ™, the first revolutionary in-office CryoAesthetic ™ age spot removal treatment, FDA cleared to remove benign lesions and temporarily reduce pain, swelling and inflammation.
R2 is a private holding company within the Pansend Life Sciences (“Pansend”) segment of HC2, which is one of the core businesses of HC2. Pansend focuses on the development of cutting-edge healthcare technologies and products and has a proven track record of innovation and value creation.
Developed by the pioneers of CoolSculpting and Fraxel, Glacial Rx is the first and only technology that uses Cryomodulation ™ to improve the appearance of the skin and freeze melanin at the source. The treatment harnesses the power of cold, using patented cooling technology, to suppress melanin production and remove unwanted dark spots. It also brightens, soothes and renews the skin for optimal results without downtime.
“R2’s innovative technologies have robust value creation potential, and the commercial launch of Glacial Rx is a key milestone for our life sciences business, which we believe will help drive strong results for HC2 and our shareholders, ”said Avie Glazer, president of HC2.
“I am delighted to be partnering with Glacial Rx to be among the first to bring this new treatment to my practice,” says Dr. Gregory Nikolaidis, Board Certified Dermatologist. “I think this will be a game-changer in the cryoesthetics category, providing the opportunity to treat new patients who are looking for a comfortable solution to eliminate benign lesions.”
The Glacial Rx System is an FDA Class II device administered by qualified healthcare professionals. Effective on most skin types, Glacial Rx provides the best possible results in removing age spots without the contraindications, risks, side effects or limitations associated with heat modalities.
In partnership with one of the world’s fastest growing cosmeceutical skincare brands, Allies of Skin, Glacial Rx offers an organized topical regimen with optimal concentrations of active ingredients that can be provided concurrently with treatment at the discretion of health professionals. The treatment consists of:
- Cool: The cold plate is applied to one place for 15-20 seconds; no topical anesthetic or numbing agent needed.
- Calm: The cooling handpiece is gently moved over the face to reduce redness and puffiness, allowing the skin to better absorb strong topicals.
- Protect: Serums containing protective antioxidants and brightening agents can be applied, protecting the skin from environmental aggressions. The topical offerings to take away after treatment, formulated with active ingredients derived from plants that are beneficial for the skin, aid in the recovery of the skin, accelerate the process of desquamation and re-epithelialization of the skin, and considerably stimulate the antioxidant activity to fight against free radical damage.
“It has taken a long time for us to ensure that we are creating a world-class treatment, delivering unmatched results and superior experiences to our patients, and we are delighted to finally bring this unparalleled innovation to market,” says Tim Holt , R2 Chief Executive Officer. According to a recent clinical study, 93% of spots improved at 2 months1; and another showed that 90% of patients said their skin was rejuvenated, brighter or more even at 1 month.2
Launched this month in dermatology offices and medical spas nationwide, Glacial Rx was named one of the “ 2021 Launches Doctors Buzz ” by RealSelf, the leading and most trusted source for educating on cosmetic procedures. R2 continues to facilitate ordering of the Glacial Rx System for practices providing treatment. Learn more about R2 and Glacial Rx technologies at glacialskin.com and follow the company on LinkedIn.
HC2 Holdings, Inc. (NYSE: HCHC) has a portfolio of leading innovative assets, primarily in infrastructure, life sciences and spectrum. 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., specializing in the development of innovative healthcare technologies and products. Pansend’s portfolio companies include R2 Technologies, which develops medical devices for the treatment of cosmetic and medical skin conditions and has received FDA approval for its original device; MediBeacon, whose proprietary platform technology is the basis of its development of a non-invasive real-time monitoring system for the assessment of kidney function; Triple Ring, a leading research, engineering and development company specializing in regulated medical devices, in vitro diagnostic and life science 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 holding company, BeneVir, was acquired by Janssen Biotech, Inc. (Johnson & Johnson) for up to $ 1.04 billion.
About R2 Technologies
Based in Silicon Valley, R2 Technologies is a global leader in CryoAesthetic ™ medical devices. In 2014, Pansend Life Sciences, LLC and Blossom Innovations, LLC founded R2 Technologies and obtained an exclusive intellectual property license from Massachusetts General Hospital. In 2019, R2 brought in another strategic partner, Huadong Medicine Co., Ltd. In close collaboration with these partners and the scientific founders of the brand and world-renowned luminaries in aesthetic medicine, Drs. Rox Anderson, Dieter Manstein and Henry Chan, R2 focuses on the development, engineering, clinical research and commercialization of breakthrough technologies for aesthetic providers and consumers. Since its inception, R2 has raised $ 62 million in funding led by a team of world-class experts in the aesthetics industry and was named the winner of the 2nd Annual Aesthetic Technology Summit’s SBDC launchPad, hosted by Octane, a company committed to providing resources, capital and mentorship for tech and medical startups.
Caution Regarding Forward-Looking Statements
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This press release contains, and certain oral statements made by our representatives from time to time may contain forward-looking statements regarding the creation of shareholder value and future cash flow and invested assets. All forward-looking statements speak only as of the date they are made and, except as required by law, HC2 does not undertake to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise. These risks and other important factors discussed under “Risk Factors” in our most recent Annual Report on Form 10-K filed with the SEC, and our other reports filed with the SEC could cause the results to be reported. actual differ materially from those indicated by the forward-looking statements made in this press release.
Paul Caminiti / Pam Greene / Luc Herbowy
Matt Chesler, CFA
For R2 Technologies:
1 Evaluation of Skin Cooling System for Improved Treatment of Benign Pigmented Lesions and Common Skin Conditions – Interim Review – Nov 2020 – TD-0993
2 Evaluation of a new skin cryotherapy system for the treatment of benign pigmented lesions – Interim report – May 2018 – TD-0992