UK MedTech Belluscura raises £16.1 million

British MedTech company Belluscura has debuted on the AIM market of the London Stock Exchange (LSE), raising £16.1 million.

The company, which achieved a valuation of £51 million in early trading, has developed a lightweight and portable oxygen enrichment technology.

The MedTech said it will use £3 million of the capital to launch its FDA-cleared X-PLO₂R portable oxygen concentrator, while £8 million will be used to improve its “oxygen enrichment product portfolio”.

Founded in 2015, the company said its product will be able to replace “clunky” metal oxygen tanks and heavy portable oxygen devices.

The MedTech claimed the product can deliver 95 per cent pure oxygen to patients, which it said will improve quality of life for those suffering with lung ailments.

Belluscura highlighted research which found that the global respiratory care devices market is estimated to hit $23.4 billion in 2021 and expected to reach $28.6 billion by 2024, growing over $1.7 billion per year.

"We believe our patented X-PLO₂R range of small and discreet portable oxygen concentrators, delivering more oxygen by weight than any other device in their class, will be well-received in the large, expanding supplemental oxygen market," said chief executive, Robert Rauker.

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