Eden Research PLC’s (LON:EDEN) TerpeneTech subsidiary has been given the green light from regulators to start selling its head-lice treatment in Europe.
The product, which “performed very well” in clinical trials, is expected to be launched in the UK, where TerpeneTech already has a distribution partner in place, at the beginning of 2019.
Eden will supply a concentrate of ingredients to TerpeneTech, which will then formulate the finished product to be sold by the distribution partner into the UK retail market.
The roll-out into the rest of Europe is expected to follow soon after once deals with other distributors have been finalised.
“The development of this head-lice product has been in progress for approximately three years and it is good to see it now being commercialised,” said Eden chief executive Sean Smith.
“The head-lice markets, globally, tend to be quite fragmented, and so we feel that the approach being taken by TerpeneTech's distribution partner to include the under-served discount-retail market is sensible.”
Eden shares climbed 11.4% to 12.5p on Wednesday morning.