Benzinga | Sep 28, 2021 09:13AM EDT

INNOVATE Reports Its R2 Technologies Portfolio Co. Earned Third FDA Indication, Product Code For Its Novel Glacial Rx System

Product Becomes First and Only Class II Dermal Cooling System FDA-Cleared for Dermabrasion

NEW YORK, Sept. 28, 2021 (GLOBE NEWSWIRE) -- INNOVATE Corp. (NYSE:VATE) ("INNOVATE" or the "Company") today announced that Glacial Rx(r), the revolutionary in-office system from subsidiary R2 Technologies Inc. ("R2") which is FDA-cleared to remove benign lesions and temporarily reduce pain, swelling and inflammation, is now the first and only Class II dermal cooling system FDA-cleared for general dermabrasion, scar and acne scar revision, and tattoo removal, permanently changing the aesthetics industry.

"This is an exciting milestone for the team at R2 that comes on the heels of the successful commercial launch of Glacial Rx earlier this year," said Avie Glazer, Chairman of INNOVATE.

"R2's pipeline of groundbreaking, first-in-class products establishes R2 as a bellwether company in the skincare industry, and we look forward to continuing to support their growth as we drive meaningful value for our stakeholders," said Wayne Barr, CEO and President of INNOVATE.

"This additional FDA clearance is a huge win, and not an easy feat. It took innovation, dedication, time, and resources," says Tim Holt, R2 Chief Executive Officer. "It couldn't have been possible without our amazing team and strategic partners. The clearance had an exceptional outcome in which we went from being part of one classification, among hundreds of other devices, to being placed in our very own FDA-issued product code. This is further proof that our product is so novel, it warrants a completely new category."

Launched in March 2021, Glacial Rx's presence in the U.S. has grown significantly. R2 is continuing to take orders from aesthetic providers who want to offer this revolutionary treatment in-office. To learn more about R2, treatment offerings and providers, visit glacialskin.com and follow the company on LinkedIn.