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EctoPharma, a developer of non-toxic pesticides, has received investment by Braveheart Investment Group as part of a £2 million funding round.

The oversubscribed funding round was led by Braveheart, which was joined by Lochside Investments, TRI Capital and existing shareholders in EctoPharma. The investment is Braveheart’s first since joining AIM in March.

EctoPharma will use the funding to complete clinical trials on its chief product KindaPed, which treats head lice. It will also use the working capital for research and development and the commercialisation of its products.

Edinburgh-based EctoPharma expects this round of funding to be its last before KindaPed has a licensing arrangement. Founded in 1994, the company focuses on the healthcare and veterinary markets with products that can treat conditions such as human head lice, canine mange and cattle tick.

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