ITV on Tuesday (Aug 15) said it had agreed to invest in pain relief brand Flarin Holdings Ltd, making it the British broadcaster's first consumer healthcare investment.
The company has agreed to subscribe for £2 million worth of shares in Flarin, with an option to subscribe for two more tranches of 1.5 million pounds each.
In return, Flarin would get advertising space across ITV's channels and ITVX.
ITV said its 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."
Director of ITV AdVentures, 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.”
Flarin was launched in the UK in 2018 as a pharmacy only product, but in 2020 its distribution was expanded into grocery and other retail outlets. Patents for the Flarin formulation are also held in 26 other countries.
It's claimed that Flarin is "the first and only OTC lipid-formulated ibuprofen clinically proven to relieve flaring joint pain". Flarin’s patented lipid technology is based on a complex manufacturing process which involves heating and dissolving specific pharmaceutical grade lipids, ibuprofen and other excipients together in a process lasting three days. It encases ibuprofen in lipids which help it to travel through the stomach and into the small intestine where it is absorbed.
