Tekcapital (AIM: TEK ) has announced that its portfolio company Belluscura has submitted the X-PLO2R™ portable oxygen concentrator for 510(k) clearance with the U.S. FDA. 

Tekcapital owns 17.8% of the share capital of Belluscura, a company 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. 

 X-PLO2R™, which is designed to replace oxygen tanks, is a patented portable oxygen concentrator that can deliver up to 95% pure oxygen to patients 24 hours a day, 7 days a week developed by Belluscura alongside its research partner, Separation Design Group. 

As a COVID-19 treatment, the X-PLO2R™ device will be given priority review and while there is no specific timetable currently, the group expects FDA clearance to be granted ‘this year.’ 

"Using our proprietary Ultra-Rapid processing and ModulAirTM technology, the X-PLO2R will be the smallest and lightest in its class and subject to receipt of approval,  the only modular FDA cleared oxygen concentrator,” said Robert Rauker, CEO of Belluscura. 

In anticipation of a 2021 commercial launch of X-PLO2R™, and in order to fund the launch, Belluscura is planning to list on the AIM market of the LSE following the 510(k) clearance. 

The company has described the US FDA clearance as ‘a major milestone’ for Belluscura which to date, has a total of 17 patents and pending applications covering its products. 

According to Global Market Insights, the medical portable O2 market is expected to grow from $1.6 billion in 2018 to US $2.4 billion by 2025 with a CAGR of 8%. 

"We are very glad to see that Belluscura has filed an application with the FDA requesting clearance of their X-PLO2R™ 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,” added Dr Clifford M. Gross, Executive Chairman of Tekcapital. 

Shares in Tekcapital have jumped by over 30% since the beginning of November 2020 to open 3.46% higher this morning at 13.45p following the announcement. 

Reasons to Follow TEK 

Tekcapital’s mission is to create value from university Intellectual property that is ready for mass markets:  

  • TEK has the World’s largest network of University IP  
  • TEK enables rapid value creation with market ready technology selection   
  • Multi-Year track record of significant revenue and net-asset growth  

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