London Stock Exchange welcomes Belluscura plc to AIM
London Stock Exchange today welcomes Belluscura plc (“Belluscura” or the “Company”), a leading medical device developer focused on lightweight and portable oxygen enrichment technology, to celebrate the listing of the Company's public shares onto AIM, under the ticker "BELL".
Belluscura focuses on 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. Its range of portable products will be lighter, more adaptable and have higher O₂ capacity by weight than existing oxygen enrichment products in their respective class. Whilst potentially useful for recovering COVID patients, it has a wide range of use for sufferers of pneumonia and COPD (i.e. asthma, emphysema and chronic bronchitis) and other respiratory illnesses. In March 2021, it received 510(k) clearance from the US Food & Drug Administration (FDA) for its X-PLO₂R range of oxygen concentrators, which will be launched in 2021.
The company has successfully raised £17.5 million from the placing and subscription, and will have a market capitalisation of £50.96 million based on the issue price of 45p.
The Company has a registered office in the UK. Its subsidiary, Belluscura LLC, is based in Plano, Texas, USA. The USA is the Company’s main country of operation.
Robert Rauker, CEO of Belluscura, said: “We are delighted to announce our admission to AIM. These additional funds will allow us to accelerate our sales effort and the commercial roll-out of the first of our portfolio of oxygen concentrators under development. Our patented oxygen enrichment technology is designed to positively impact millions of people across the globe suffering from serious respiratory diseases.
“Our debut on AIM sees us well-positioned for commercial growth and well-financed to support the launch of our FDA cleared X-PLO₂R portable oxygen concentrator as well as advancing the other products within our portfolio to commercial launch.
“We look forward to welcoming support from investors for our portable oxygen enrichment technology, which will make a huge difference to people who need supplemental oxygen to enjoy a more active lifestyle at a reduced cost.”