Proactive Investors - Weeks after pulling out of investing in the makers of Gogglebox, ITV PLC (LON:ITV) has today unveiled an investment in a fast growing painkiller.
The initial £2 million investment in pain relief brand Flarin is its first consumer healthcare, not surprisingly, and most likely is also the first for any television company.
Up to a further £3 million could also be invested, as part of the FTSE 100-listed broadcaster's investment via its 'media for equity' strategy and its ITV Adventures Invest investment fund.
By media for equity, Flarin gets advertising slots across ITV's channels and ITVX in return for ITV taking a stake.
Other investments made by ITV using this format have included architectural design company Resi and pet health and wellness company PitPat, earlier this year.
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."
Ibuprofen rival
Patent protected Flarin's lipid formulation, where the manufacturing process heats lipids, ibuprofen and other excipients together to create a unique mix, has been proven in clinical trials to be as effective as twice the dose of standard ibuprofen in patients with acute joint pain.
Encasing the ibuprofen in lipids apparently helps it to travel through the stomach and into the small intestine, though advertising claims that it 'helps shield your stomach from damage' have been challenged by regulators.
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."
As one of the fastest-growing analgesics in the UK and the only lipid-formulated oral analgesic available in the UK, it makes ITV an unlikely rival to Nurofen maker Reckitt Benckiser Group PLC (LON:RKT).
Flarin is available via pharmacies and supermarket shelves, while outside the UK, patents for the formulation are also held in 26 other countries.