Belluscura PLC, the medtech firm, is to list on AIM, raising up to £15mln in the process.
The indicated price range for the initial public offering (IPO) is 42p – 48p, which values the company at £50-55mln. Admission and commencement of dealings on AIM is expected to take place in late May.
The company, whose flagship product, the X-PLO₂R, is a portable oxygen concentrator designed to replace larger, metal oxygen tanks and heavier portable oxygen concentrator devices, said the fresh capital raised would support the commercial roll-out of X-PLO₂R and support the development of its product portfolio.
Belluscura either owns or exclusively licenses a total of 26 patents and applications relating to oxygen enrichment devices and treatments.
“Our patented oxygen enrichment technology is designed to positively impact millions of people across the globe suffering from serious respiratory diseases,” said Robert Rauker, the chief executive of Belluscura.
“Our debut on the AIM market will see 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,” he added.
X-PLO₂R, weighs less than 1.5kg (3.25lbs), is a lightweight FDA cleared portable oxygen concentrator (“POC”) designed to replace larger, metal oxygen tanks and heavier portable oxygen concentrator devices. #oxygentherapy
— Belluscura (@Belluscura) May 7, 2021