Business
Belluscura raises £750,000 of additional funding
Belluscura raises £750,000 of additional funding.
About this update from Tekcapital Plc
[{"type":"text","content":"\n \nRNS Number : 9743H Tekcapital plc 06 August 2019 \n\n \n \nThe information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (\"MAR\"). With the publication of this announcement via a Regulatory Information Service (\"RIS\"), this inside information is now considered to be in the public domain.\n6 August 2019\nTekcapital Plc\n(\"Tekcapital\", the \"Company\" or \"the Group\")\nPortfolio Company Update\nBelluscura Raises a further £750,000 in its latest fundraising round\n \nTekcapital Plc (AIM: TEK), the UK intellectual property (IP) investment group focused on creating marketplace value from investing in university technology, is pleased to announce that its portfolio company Belluscura plc has raised £750,000 of additional funding. The funds will be used to complete regulatory clearance and launch its innovative X-PLOR portable oxygen concentrator. This brings the total amount raised by Belluscura in 2019 to £2.15m.\n \nThe Product\nBelluscura has developed a patented portable oxygen concentrator called the X-PLOR, that can deliver 96% pure oxygen to patients 24/7. According to the Company1, the X-PLOR is designed to replace metal oxygen tanks and heavier devices. Weighing only 1.4kg, X-PLOR is 33% lighter and research suggests can provide 37% more oxygen per kg than leading competitors. X-PLOR is portable, increasing the mobility of people suffering from COPD and price efficient, costing less than tanks over the duration of the disease, and is upgradeable with user replaceable filters, so as the disease progresses, there is no need to buy another expensive higher capacity device, rather just change the filter as the prescription changes. Belluscura has exclusively licensed, acquired or filed 13 patents and applications in the field of concentrated oxygen generation and has a robust pipeline with additional oxygen enrichment products planned for release in 2020.\n \nMarket Information\nChronic obstructive pulmonary disease (COPD) is a progressive life-threatening lung disease. Over 250 million people worldwide suffer from COPD2. COPD is not curable, but patients with COPD are prescribed supplemental oxygen to help relieve shortness of breath and reduce the risk of death.&...