TyraTech, Inc. (AIM: TYR and TYRU), a life sciences technology company focused on nature-derived insect and parasite control products, announces a number of new initiatives including its expansion into the European market; the launch of a new product to complement the Vamousse range: Vamousse Lice Elimination for home cleaning; and further expansion of its distribution network in both the US and the UK.
Expansion into Europe: Entering the French Market
TyraTech has now launched its award-winning head lice product range Vamousse® (Vamousse Treatment Mousse, Vamousse Protective Shampoo and Vamousse Elimination Powder), as well as its plant-based, tick and mosquito range of personal repellents Guardian™ (Guardian Tropical Zones and Guardian Temperate Zones), into the French market.
France is the first territory outside of the US and UK targeted by the Company and is the biggest market for head lice in Europe. The Company is still actively pursuing other opportunities to expand further into Europe, in particular Germany, and outside of Europe.
The French market is mainly driven by independent pharmacies. As a result TyraTech will be adopting a business-to-business distribution model with direct sales, by partnering with a local sales force specialized in selling OTC pharmacy products. Given the nature of the market the Company expects to gain gradual market penetration and achieve its first meaningful sales in the second half of this financial year.
Significantly, TyraTech will also be selling its Guardian range, which is the Company’s first foray into a national retail market with its repellent products. Until now Guardian has only sold via Amazon.com in the US.
New Product Launch: Vamousse Lice Elimination
A large majority of parents seek to clean their homes following a head lice infestation but they do not have an effective solution. Currently, they have to use potentially harmful pesticides or seal non-washable items for long period of time. TyraTech is launching a new product: Vamousse Lice Elimination to answer these needs by offering a pesticide-free, efficient product to eradicate lice on non-washable household items (e.g., carpet, furniture, and soft toys), killing by contact. It also eliminates dust mites in the household environment.
Key benefits of the new home treatment include:
- Completes the lice treatment regimen to help prevent re-infestation
- It is safe, non-toxic and leaves no sticky residue
- It uses no synthetic pesticides (all competitive options are currently permethrin-based)
- The powder application shakes easily to dispense across a large area
- Treated items can be used after cleaning rather than having to be disposed of, or isolated for weeks
This new product will be first launched in CVS and e-commerce in the US and in pharmacies in France. It will gradually be rolled-out across existing distribution channels as an extension to solution set for parents.
Further Distribution for the Vamousse range in the UK and US
TyraTech is also announcing further expansion of its retail presence in the UK and US.
In the US the Company is extending its product range within CVS Pharmacy ("CVS") the third largest Pharmacy chain. In addition to the Vamousse Lice Treatment, which is already stocked, they will now sell the Vamousse Lice Defense daily shampoo and new Vamousse Lice Elimination for home cleaning.
CVS is the first major retailer in the US to take all three products thereby offering a fully integrated, non-pesticide, solution to treat and control head lice infestations for the family and in the home.
In the UK, TyraTech has continued to improve its distribution network and has added the UK’s fourth largest grocer: Morrisons, which will stock the Vamousse Treatment.
Bruno Jactel, CEO TyraTech commented:
In 2016, our focus will be to implement our strategy of increasing market penetration of existing products, launching new products and expanding into new geographies. Today we have announced significant further news which perfectly exemplifies this strategy.
We analyzed carefully which market to launch into Europe. Our original target was Germany and our plans in this regard remain on track, but we have taken the opportunity to launch in France as it is readily accessible and potentially a far bigger market.