Tekcapital plc Belluscura raises £750,000 of additional funding (9743H)
06 Août 2019 - 8:00AM
UK Regulatory
TIDMTEK
RNS Number : 9743H
Tekcapital plc
06 August 2019
The 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.
6 August 2019
Tekcapital Plc
("Tekcapital", the "Company" or "the Group")
Portfolio Company Update
Belluscura Raises a further GBP750,000 in its latest fundraising
round
Tekcapital 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 GBP750,000 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 GBP2.15m.
The Product
Belluscura has developed a patented portable oxygen concentrator
called the X-PLOR, that can deliver 96% pure oxygen to patients
24/7. According to the Company(1) , 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.
Market Information
Chronic obstructive pulmonary disease (COPD) is a progressive
life-threatening lung disease. Over 250 million people worldwide
suffer from COPD(2) . COPD is not curable, but patients with COPD
are prescribed supplemental oxygen to help relieve shortness of
breath and reduce the risk of death. According to the British Lung
Foundation, in the U.K. an estimated 1.2 million people are living
with diagnosed COPD.(3) Globally, the medical portable O(2)
concentrator market is expected to grow from $1.4bn in 2018 to
$2.4bn by 2024, with a CAGR of 9%.(4)
Dr Clifford Gross, Chairman at Tekcapital commented,
"We are delighted to see that Belluscura has further
strengthened its balance sheet. The fundraise was conducted at 15p
per share, a 50% uplift over the valuation Tekcapital listed for
Belluscura in its 2018 Annual Accounts. The Directors believe that
Belluscura's new device will help to improve the quality of life
and reduce treatment cost for individuals suffering from COPD."
Tekcapital owns approximately 19.2% (9.3m shares) of Belluscura
plc.
About Belluscura plc
Belluscura plc is an English company that is focused on
improving healthcare and people's lives by developing new and
innovative treatment platforms. They license and develop
proprietary technologies that can be applied across a range of
treatment possibilities. To learn more please visit
www.belluscura.com.
About Tekcapital plc
Tekcapital creates value from investing in new,
university-developed intellectual properties and provides a range
of IP investment services to make it easy for organisations to
commercialise university-developed technology. Tekcapital is quoted
on the AIM market of the London Stock Exchange (AIM: symbol TEK)
and is headquartered in Oxford, in the UK. For more information,
please visit www.tekcapital.com
LEI: 213800GOJTOV19FIFZ85
For further information, please contact:
Tekcapital Plc Via Yellow Jersey PR
Clifford M. Gross, Ph.D.
finnCap Ltd (Nominated Adviser and
Joint Broker) +44 (0) 20 7220 0500
Geoff Nash/ Max Bullen-Smith (Corporate
Finance)
Camille Gochez (ECM)
Novum Securities Limited (Joint
Broker) +44 (0) 20 7399 9427
Colin Rowbury (Corporate Broking)
Yellow Jersey Limited +44 (0) 20 7933 8780
Tim Thompson / Annabel Atkins tekcapital@yellowjerseypr.com
References
(1) https://www.belluscura.com/product-pipeline/
(2)
https://www.who.int/en/news-room/fact-sheets/detail/chronic-obstructive-pulmonary-disease-(copd)
(3) https://statistics.blf.org.uk/copd
(4)
https://www.gminsights.com/industry-analysis/medical-oxygen-concentrators-market-report
This press release is for informational purposes only. The
information herein does not constitute investment advice nor an
offer to invest and may contain statements related to our future
business and financial performance and future events or
developments involving Belluscura or Tekcapital that may constitute
forward-looking statements. These statements may be identified by
words such as "expect," "look forward to," "anticipate" "intend,"
"plan," "believe," "seek," "estimate," "will," "project" or words
of similar meaning. We may also make forward-looking statements in
other reports, in presentations, in material delivered to
customers, stakeholders and in press releases. In addition, our
representatives may from time to time make oral forward-looking
statements. Such statements may be based on the current
expectations and certain assumptions of Belluscura or Tekcapital's
management. Please note that these are subject to a number of
risks, uncertainties and factors, including, but not limited to
those described in various disclosures. Should one or more of these
risks or uncertainties materialize, or should underlying
expectations not occur or assumptions prove incorrect, actual
results, performance or achievements of Belluscura or Tekcapital
may vary materially from those described explicitly or implicitly
in the relevant forward-looking statement. Neither Belluscura nor
Tekcapital intends, nor assumes any obligation, to update or revise
these forward-looking statements in light of developments which
differ from those anticipated.
This information is provided by RNS, the news service of the
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Authority to act as a Primary Information Provider in the United
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END
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