LONDON, UK AND PLANO, TX April 23, 2019. Belluscura PLC is excited to announce that its crowdfunding campaign has exceeded the target raise of £500,000 ($647,000 USD). The campaign will remain open on Crowdcube (https://www.crowdcube.com) until May 3 to allow additional people the opportunity to invest in the company.
This raise will enable Belluscura to continue moving forward with regulatory clearance of its novel X-PLO2R™ portable oxygen concentrator for use in treating patients suffering from COPD. Belluscura anticipates launching the X-PLO2R in the fourth quarter of 2019.
Commenting on the successful crowdfunding campaign, Bob Rauker, CEO of Belluscura, said: “I sincerely thank all of our investors for their generous support. We are very excited about pushing the X-PLO2R portable oxygen concentrator over the finish line. There are over 250 million people suffering from chronic lung diseases, such as COPD – the third leading cause of death—and with the launch of the X-PLO2R we have the opportunity to help millions of people breathe easier.”
Belluscura (www.belluscura.com) was established in the UK in December 2015 with the objective of improving healthcare through innovation. We are currently developing a proprietary oxygen concentrator system with a planned commercial release in 2019 that will be used to deliver supplemental long-term oxygen therapy to patients suffering from chronic respiratory conditions such as COPD, asthma, occupational lung diseases and pulmonary hypertension.
About X-PLO2R Portable Oxygen Concentrator
X-PLO2R will be the world’s first modular portable oxygen concentrator, designed to help people who are prescribed supplemental oxygen to maintain more active and independent lifestyles. X-PLO2R is engineered to be lighter, smaller and more efficient, in both oxygen generation and cost, than any other in its class, and X-PLO2R’s proprietary ModulAir™ technology will enable users to adjust the oxygen flow capacity as their prescription changes.
This Press Release contains forward-looking statements that involve substantial risks and uncertainties, and actual results and developments may differ materially from those expressed or implied by these statements. These forward-looking statements are statements regarding the Company’s intentions, beliefs or current expectations concerning, among other things, the Company’s results of operations, financial condition, prospects, growth, strategies and the industry in which the Company operates. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. These forward-looking statements speak only as of the date of this Press Release and the Company does not undertake any obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date of this Press Release.
Contact: Investor Relations