Business
Portfolio Companies Update
Portfolio Companies Update.
About this update from Tekcapital Plc
[{"type":"text","content":"\n\n\n \n17 August 2023\nTekcapital Plc\n(\"Tekcapital\", the \"Company\" or the \"Group\")\nPortfolio Companies Update\n \nTekcapital Plc (AIM: TEK), the UK intellectual property investment group is pleased to provide a summary of latest developments across certain of its portfolio companies.\n \nBelluscura\n \nBelluscura plc (\"Belluscura\" AIM: BELL), announced on 16 August 2023 it has received purchase orders for over 6,500 of its next-generation DISCOV-R portable oxygen concentrator. This represents approximately US$15 million of potential revenue to Belluscura plc, as estimated by its management team. The recent purchase orders follow the signing of several distribution agreements with medical device distributors and other home healthcare providers, including a distribution agreement with a division of McKesson, one of the largest distributors of pharmaceuticals and medical devices in North America, earlier this month and a marketing agreement with GoodRx®, a leading digital healthcare platform, in February 2023. Belluscura has received multiple additional requests from leading oxygen homecare providers in the US to distribute the DISCOV-R. \n \nTekcapital owns 15,138,767 shares of Belluscura plc (11.16%).\n \n \nMicroSalt\n \nMicroSalt Ltd (\"MicroSalt\") has been making steady progress towards its planned IPO. Advanced discussions with commercial partners including key players in the snack food industry are taking place in order to launch multiple products using Microsalt this year, with purchase orders anticipated in short order. MicroSalt has also demonstrated good traction in the B2C segment, with:\n \n- two new partners based in the Philippines - Healthy Options and S&R Membership Shopping placing commercial orders for SaltMe!® Crisps; and\n- expanding its US retail footprint for its low-sodium, full-flavour saltshakers by 131 stores as announced in June 2023.\nTekcapital owns 97% of the share capital of MicroSalt Ltd. and 6,034,683 shares (78%) of MicroSalt Inc., its U.S. subsidiary.\n \n \nInnovative Eyewear\n \nLucyd Ltd (\"Lucyd\") and its US subsidiary, Innovative Eyewear Inc announced a multi-year, global licensing agreement with Authentic Br...