TyraTech does head lice deals with Boots and Superdrug

16th Jul 2014 17:09

Life science group TyraTech announced deals with British chemist chains for its head lice treatment and raised £3.5m in a share placing.TyraTech, which focuses on nature-derived insect and parasite control products, has secured listings for its Vamousse head lice products in Superdrug and Boots stores in the UK.The group said it had also conditionally raised £3.5m before expenses through an oversubscribed placing and subscription of new shares.It plans to use the funds mainly to help it launch Vamousse in the two retailers as well as funding expected listings in other US and UK retailers, expansion into further new geographic regions and other working capital needs.Chief Executive Bruno Jactel said: "I am very excited about the opportunity to launch the Vamousse treatment and prevention products in the UK market ahead of the peak head lice season."Due in part to the success and interest generated in the USA, TyraTech has been able to capitalise on opportunities in the UK market in a shorter timeframe than was previously envisaged."Shares in TyraTech closed 0.5p or 6.45% up at 8.25p.PW