Tekcapital plc Belluscura Update (3497H)
03 Dicembre 2020 - 8:00AM
UK Regulatory
TIDMTEK
RNS Number : 3497H
Tekcapital plc
03 December 2020
The information contained within this announcement is deemed by
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3rd December 2020
Tekcapital plc
("Tekcapital" or the "Company")
Portfolio Company Update: Belluscura plc
Belluscura plc announced the Filing with the US Food and Drug
Administration (the "FDA") an Application Requesting Clearance for
its X-PLO(2) R(TM), Portable Oxygen Concentrator
Tekcapital plc, (AIM: TEK) the UK intellectual property
investment group focused on creating marketplace value from
investing in university technology, announces that its portfolio
company Belluscura plc has submitted the X-PLO(2) R(TM) portable
oxygen concentrator for 510(k) clearance with the U.S. FDA.
Robert Rauker, CEO of Belluscura commented:
"Whilst we do not have a specific timetable, we have been told
by the FDA that, as a COVID-19 treatment, the device will be given
priority review and we are hopeful that FDA clearance will be
granted this year."
Additionally, Mr. Rauker mentioned, "Using our proprietary
Ultra-Rapid processing and ModulAir(TM) technology, the X-PLO(2)
R(TM) will be the smallest and lightest in its class and subject to
receipt of approval, the only modular FDA cleared oxygen
concentrator. With the expected FDA 510(k) clearance in the near
future, Belluscura has begun planning for the commercial launch of
the X-PLO(2) R(TM) in 2021. To fund such a commercial launch, the
Company plans to list on the AIM market of the London Stock
Exchange following the 510(k) clearance."
This is a major milestone for Belluscura. Belluscura has 17
patents and pending applications covering their products. According
to Global Market Insights, the medical portable O(2) market is
expected to grow from $1.6bn in 2018 to US $2.4bn by 2025 with a
CAGR of 8%.(1)
Clifford M. Gross Ph.D., Executive Chairman of Tekcapital plc
commented:
"We are very glad to see that Belluscura has filed an
application with the FDA requesting clearance of their X-PLO(2)
R(TM) portable oxygen concentrator. Belluscura believes that their
new device could be helpful to patients during the COVID-19
pandemic, and for the 250 million people worldwide suffering from
chronic obstructive pulmonary disease (COPD)(2) . "
Tekcapital owns 17.8% of the share capital of Belluscura.
About Belluscura plc
Belluscura is focused on developing novel oxygen-based treatment
platforms that can be adapted and applied in a wide range of
markets beyond those traditionally applicable to a single product
or product line. Belluscura is developing innovative enriched
oxygen treatment platforms that reduce the cost of treatment and
increase available treatment options. To learn more about
Belluscura, please visit www.belluscura.com .
About Tekcapital plc
Tekcapital creates value from investing in new,
university-developed intellectual properties and provides a range
of IP investment services to make it easy for organisations to
commercialise university-developed technology. Tekcapital is quoted
on the AIM market of the London Stock Exchange (AIM: symbol TEK)
and is headquartered in the UK. For more information, please visit
www.tekcapital.com.
LEI: 213800GOJTOV19FIFZ85
For further information, please contact:
Tekcapital Plc Via Flagstaff
Clifford M. Gross, Ph.D.
SP Angel Corporate Finance LLP
(Nominated Adviser and Broker) +44 (0) 20 3470 0470
Richard Morrison/Charlie Bouverat (Corporate
Finance)
Abigail Wayne / Rob Rees (Corporate Broking)
Flagstaff Strategic and Investor Communications +44 (0) 20 7129 1474
Tim Thompson/Andrea Seymour/Fergus Mellon
This press release is for informational purposes only. The
information herein does not constitute investment advice nor an
offer to invest and may contain statements related to our future
business and financial performance and future events or
developments involving Tekcapital or Belluscura that may constitute
forward-looking statements. These statements may be identified by
words such as "expect," "look forward to," "anticipate" "intend,"
"plan," "believe," "seek," "estimate," "will," "project" or words
of similar meaning. We may also make forward-looking statements in
other reports, in presentations, in material delivered to
customers, stakeholders and in press releases. In addition, our
representatives may from time to time make oral forward-looking
statements. Such statements may be based on the current
expectations and certain assumptions of Tekcapital or Belluscura's
management. Please note that these are subject to a number of
risks, uncertainties and factors, including, but not limited to
those described in various disclosures. Should one or more of these
risks or uncertainties materialize, or should underlying
expectations not occur or assumptions prove incorrect, actual
results, performance or achievements of Belluscura and/or
Tekcapital may vary materially from those described explicitly or
implicitly in the relevant forward-looking statement. Neither
Tekcapital nor Belluscura intends, nor assumes any obligation, to
update or revise these forward-looking statements in light of
developments which differ from those anticipated.
References
1 https://www.gminsights.com/industry-analysis/medical-oxygen-concentrators-market-report
2 https://www.who.int/news-room/fact-sheets/detail/chronic-obstructive-pulmonary-disease-(copd)
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