(Alliance News) - ITV PLC on Tuesday announced that its investment fund has purchased a stake in Flarin Holdings Ltd, its first investment so far in the consumer healthcare market.
The London-based television broadcaster and content producer said it has agreed to subscribe for GBP2 million of shares in Flarin, a London-based pain relief brand, through its Media for Equity investment fund ITV AdVentures Invest.
ITV also has the option to subscribe for two additional tranches worth GBP1.5 million each.
Shares in ITV were down 0.8% at 72.24 pence on Tuesday in London.
Flarin will receive advertising inventory across ITV's television channels and the ITVX streaming service. ITV said the investment "will help Flarin build mass market brand awareness by bringing the brand to millions of consumers via ITV platforms.
"This will be a step change in the size of the campaign and the approach to scaling the Flarin brand to date."
Flarin is a patent-protected anti-inflammatory painkiller available over the counter in pharmacies and retail stores, and the only lipid formulated oral analgesic available in the UK.
ITV AdVentures Director Sheena Amin said: "It's fantastic to be announcing our latest Media for Equity investment into Flarin. With its innovative and patented lipid technology, Flarin offers many unique benefits to those suffering from joint and muscular pain compared to any other product on the market.
"Flarin is already one of the fastest growing analgesics in the market and I am confident that we will see the company grow to new heights following a brand building campaign across ITV."
Previously this year, ITV invested in pet health and wellness company PitPat and architectural firm Resi Design Ltd.
ITV AdVentures was launched in 2021, to allow ITV to purchase minority stakes in early stage venture capital-funded companies offering digital and direct-to-consumer products.
Its first investment was in location finding application what3words Ltd. This was followed by purchasing stakes in menswear brand Spoke, utility price comparison service ismybillfair.com, nutritional supplements startup Feel and vehicle marketplace carwow.
By Emma Curzon, Alliance News reporter
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