Belluscura reaches fundraising goal for POC

Tuesday, April 30, 2019

PLANO, Texas – Belluscura has reached its fundraising goal for its portable oxygen concentrator, the X-PLO2R. The company, part of the portfolio of Tekcapital Plc, a U.K. intellectual property investment group, has raised 500,000 pounds. “We are delighted to see that Belluscura has reached its crowdfunding target of 500,000 pounds to help complete the regulatory clearance and launch of their new X-PLOR portable oxygen concentrator later this year,” said Dr. Clifford Gross, chairman of Tekcapital. “The fundraise was conducted at a pre-money valuation of 5 million pounds, 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, which owns about 25% of the share capital of Belluscura, had a minority participation in the round.