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R2 Technologies Receives Series C Investment of $15 Mil

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R2 Technologies Inc. (“R2”) has received an additional round of $15 million in funding from its founding investor, Pansend Life Sciences, LLC, as a Series C equity investment which closed on July 20, 2021.

The investment established a post-money valuation of $150 million for R2. The funds will be used to expand the company’s corporate footprint and US commercial acceleration of Glacial Rx™, its first-to-market revolutionary CryoAesthetic™ treatment, FDA-cleared to remove benign lesions and temporarily reduce pain, swelling and inflammation. The investment will also fuel global growth and development of R2 Technologies’ upcoming innovations that are currently planned for future rollout.

 

“It is exciting to see our founding investor, Pansend, reinvest in the company. It is a testament to our business and the growth trajectory within the US and global markets,” says Tim Holt, R2’s Chief Executive Officer. “In fact, we will be one of the first global players in aesthetics who will have an East Coast office in Miami, Florida. This expansion will give us an unprecedented advantage especially as we expand globally and mobilize our growing sales force.”

In preparation for the unprecedented growth expected in the upcoming year, R2 is accelerating its manufacturing process to meet the current pent-up and future anticipated demands from the professional market. Additionally, the team will be ramping up marketing efforts to further drive education and awareness across both the consumer and professional channels.

R2 is doubling down on its presence in Silicon Valley with the expansion of its main office, while establishing a Miami-based satellite office. According to a recent article, Florida has been noted as one of the hottest new business hubs with Fortune 500 businesses and tech firms expanding into the flourishing market, leading to notable financial growth. Furthermore, RealSelf named Miami at the top of its list for the most aesthetic treatment providers and plastic surgeons per capita in 2018 and noted a strong correlation between tech hub hotspots and top medaesthetic markets, making it a prime marketplace for R2’s in-office treatments.

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 from aesthetic providers who want to offer the new Glacial Rx treatment in-office.

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Medical Device News Magazine provides breaking medical device / biotechnology news. Our subscribers include medical specialists, device industry executives, investors, and other allied health professionals, as well as patients who are interested in researching various medical devices. We hope you find value in our easy-to-read publication and its overall objectives! Medical Device News Magazine is a division of PTM Healthcare Marketing, Inc. Pauline T. Mayer is the managing editor.

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