TYRU Tyratech (DI)

TIDMTYR TIDMTYRU

RNS Number : 3980A

TyraTech, Inc.

28 December 2017

For immediate release: 28 December 2017

TYRATECH, INC.

("TyraTech" or the "Company")

Result of Special Meeting

Sale of Vamousse

TyraTech Inc. (AIM: TYR, and TYRU), the life sciences company focused on nature-derived insect and parasite control products, announces that at the Special Meeting which was held at 3.00 p.m. (EST) on 27 December 2017 at the Company's principal offices, 5151 McCrimmon Parkway, Suite 275, Morrisville NC 27560 USA, the resolution was duly passed.

As a result, the Company is pleased to announce that the sale of its human lice products brand Vamousse(R) to Alliance Pharma PLC (AIM: APH) ("Alliance") for an initial cash consideration of $13 million with further payments of up to $4.5 million based on the achievement of agreed sales performance targets for Vamousse(R) in 2019 and 2020, will now proceed with immediate effect. TyraTech was advised by Oriole Advisors on the sale.

Following the sale, TyraTech intends to focus on the opportunities within the estimated $6 billion addressable animal health market for control of insects and parasites, a sector in which it already has considerable management experience and new products in commercial stages.

-ends-

For further information:

 
TyraTech Inc.                          Tel: +1 919 415 
 Bruno Jactel, Chief Executive                    4340 
 Officer                               Tel: +1 919 415 
 Erica H. Boisvert, Chief Financial               4287 
 Officer 
 www.tyratech.com 
 SPARK Advisory Partners Limited      Tel: +44 20 3368 
  (Nominated Adviser)                             3551 
  Matt Davis / Mark Brady 
 Allenby Capital Limited (Broker)     Tel: +44 20 3328 
  Chris Crawford                                  5656 
 
Belvedere Communications (PR)         Tel: +44 20 3567 
 John West / Kim van Beeck                        0510 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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December 28, 2017 02:00 ET (07:00 GMT)

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