TyraTech is rolling out its head lice product in the U.K. and is funding its European expansion with $6 million in new funding.
The company, which moved to Morrisville in 2011, says the head lice market is a $150 million a year opportunity. It says the new funding round was “oversubscribed.”
TyraTech landed Boots and Superdrug in the U.K. as outlets for its Vamousse product.
So far 2014 has been a major one for growth at the firm, which began selling products through Walmart in March.
The CDC estimates that up to 12 million cases of head lice occur each year among children in the U.S. alone. The TyraTech treatment is presticide-free and takes about 15 minutes to apply.
Said TyraTech CEO Bruno Jactel about the U.K. launch: “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 US, TyraTech has been able to capitalise on opportunities in the UK market in a shorter timeframe than was previously envisaged.
“The launch of the Vamousse product range in the UK is a further significant strategic step in the commercialization of our strong intellectual property,” he added. “To have obtained listings and partner relationships with both Boots and Superdrug further validates the potential of the Vamousse range of products. The Board believes that this could be the first step of a broader European expansion for
Vamousse and other TyraTech products in the future.”
The privately held firm raised $4.6 million in new capital for a marketing push in April 2013.
TyraTech already has a relationship with another major U.S. retailer for another pest control product. The company’s pesticide Terminix has been available at The Home Depot since 2012.
TyraTech was founded in 2004 based on research from the Vanderbilt-Ingram Cancer Center. The company has developed pesticide technologies made from natural active ingredients with applications for humans as well as livestock.
TyraTech’s natural pesticide targets a receptor found in invertebrates. That receptor is not active in humans, so the pesticide is safe for people.
