EcoData Group, a company that collects and disposes of old pharmaceuticals, is planning to join Aim.
The Italy-focused business wants to expand into the UK and Germany. There are high barriers to entry and EcoData has strong relationships with the pharma companies as well as IT links that help to legitimately reimburse pharmacies when the drugs are returned. EcoData has been trading for three decades and it complies with all EU regulations.
Amati VCT and Amati VCT 2 both invested in the fundraising.
According to the company’s website (www.ecodatagroup.com) EcoData “is implementing the world’s first industrial zero emissions pyrolysis incinerator dedicated to destruction of pharmaceutical products and related packaging”. This cost €4.5m.
At the beginning of the year, Novartis appointed EcoData to handle the voluntary recall of Excedrin and NoDoz products as well as Bufferin and Gas-X Prevention products in Italy and parts of the EU.
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