R2 Technologies secures investment for CryoAesthetic technology

R2 Technologies has secured $10m in funding from Huadong Medicine Company as part of Huadong’s $30m Series B equity investment in R2.

This investment marks the second tranche of Huadong’s investment at approximately post-money valuation of $90m.

R2 plans to use the funds for commercialisation of its CryoAesthetic technology, which is claimed to enable physicians to lighten, brighten and rejuvenate skin.

Set up in 1993, Huadong is a public Chinese pharmaceutical company.

In return for its equity investment in R2, Huadong secured exclusive distribution rights to R2’s products in the China/Asia-Pacific market and enables R2 to expand its global aesthetics business.

R2 Technologies CEO Tim Holt said: “The R2 team appreciates Huadong’s ongoing commitment and partnership as we progress toward a successful global product launch. We will be utilising the funds for several commercialisation initiatives including the addition of key executives and staff as well as the launch of our pre-order program this summer.

“We believe we have developed a breakthrough CryoAesthetic technology that will usher in a new era in aesthetic treatments: a comfortable procedure that yields visible results with no downtime, for an improved patient and provider experience.”

At the international aesthetics conference IMCAS Paris, which was held on 30 January, UC San Diego Laser and Cosmetic Dermatology director Dr. Arisa Ortiz said: “R2 Technologies has created a novel approach to precisely freeze and treat benign lesions with a controlled cryo-based technology that reduces melanin production while maintaining melanocyte viability. This keeps the skin barrier intact, ensuring efficacious treatment without the disadvantages commonly associated with comparable treatments.”