Dr. Gregory Belson had been the head of GothCorp's cryogenics laboratories until the company was dissolved. At that time, he also worked with Victor Fries. He planned for retirement by investing almost all his money into a miracle drug. Unfortunately, due to side effects, the drug was never marketed. As a result, Belson went bankrupt and into serious debt to investor Dean Arbagast. While driving home after a party, Belson found ice in the road, which was odd for summer, and soon afterwards was approached by Mr. Freeze, who had worked with him years ago before his accident.
Belson agreed to help Freeze find a cure for Nora's condition in exchange for money to pay off his debts and have an equity cushion. Fries agreed to this, and said he struck a gold vein during his time in the Arctic, giving Belson a couple of gold nuggets as advance payment and to confirm his discovery was true. However, problems arose when Belson diagnosed that the operation required an organ transplant. After hacking medical records of people who matched Nora's blood type, Belson failed to find any recently deceased organ donors required for the operation. Both Fries and Belson proposed an immoral solution; organ harvesting, in which case they would find a living person and murder him for the transplant. Resuming their data mining, they found that Barbara Gordon was a perfect match for Nora, and Freeze proceeded to kidnap her. Belson lied that Barbara was needed for an emergency blood transfusion, and she agreed to help. However, when Freeze became too threatening, Barbara tried to escape, but found that it was impossible.
When Belson called Arbagast saying he was able to retire his debts, Batman and Robin happened to be in Arbagast's room and recorded their conversation. Hearing a bell-like sound in the background, they confirmed that Belson was at an abandoned oil rig. When Barbara tried to escape again, Belson pulled out a gun and began shooting, accidentally hitting an oil tank and causing a fire. He tried to escape, ignoring Freeze's demands that they perform the operation. Falling debris landed on Freeze and broke his leg; now Fries pleaded for his own help. Belson then abandoned Freeze and tried to escape in a boat. However, when the oil rig exploded, the helicopter pad broke off the rig and landed atop Belson's boat. Belson met his demise, either being crushed by this, or likely the boat sank and Belson drowned with it.