LONDON, U.K. AND PLANO, TX, U.S. (7 May 2021). Belluscura plc, a leading medical device developer focused on lightweight and portable oxygen enrichment technology, announces its intention to seek admission of the entire issued and to be issued ordinary share capital of the Company to the AIM market of the London Stock Exchange (“Admission“).
Belluscura’s first product, the X-PLO₂RTM, is a lightweight FDA cleared portable oxygen concentrator (“POC”) designed to replace larger, metal oxygen tanks and heavier portable oxygen concentrator devices. The X-PLO₂R weighs less than 1.5kg (3.25lbs) and the Directors believe it is the world’s first modular portable oxygen concentrator and that it will generate more oxygen by weight than any other FDA cleared POC in its class. The X-PLO2R can deliver up to 95% pure oxygen to patients 24 hours a day, 7 days a week to help improve the quality of life for millions of people worldwide who suffer from chronic lung diseases, such as Chronic Obstructive Pulmonary Disease (COPD) and respiratory distress caused by COVID-19. The X-PLO₂R will be launched shortly and additional products within the range will be launched within the next 12 months.
Belluscura either owns or exclusively licenses a total of 26 patents and applications relating to oxygen enrichment devices and treatments.
The Company is seeking to raise £15 million via a conditional placing of shares (“Placing”) to support the commercial roll-out of the X-PLO₂R and to progress Belluscura’s oxygen enrichment product portfolio. Following completion of the Placing and Admission to AIM, Belluscura is expected to be valued in the region of £50-55 million.
Disclaimer: This press release is for informational purposes only. Nothing in this press release should be construed as, and may not be used in connection with, an offer to sell, or a solicitation of an offer to buy or hold, an interest in any security or investment in Belluscura plc.