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Tekcapital plc - Strategy/Company/Ops Update

RNS Number : 4089C
Tekcapital plc
10 February 2020
 

 

 

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.

 

10 February 2020

 

Tekcapital plc

 ("Tekcapital" or the "Company")

Portfolio Company Update

 Belluscura plc files new patent application for devices and systems for treating people

suffering from acute respiratory distress caused by the Coronavirus

 

Tekcapital plc, (AIM: TEK) the UK intellectual property investment group focused on creating marketplace value from investing in university technology, announces that its portfolio company Belluscura plc has recently filed a patent application on an oxygen enrichment device and system for treating acute respiratory distress (ARDS), including ARDS caused by Coronavirus.

Belluscura plc, in conjunction with its exclusive research partner Separation Design Group, announced the filing of a patent application covering novel integrated portable extracorporeal oxygenation and carbon dioxide removal systems for treating patients suffering from ARDS.

The latest patent application covers devices and systems for treating people suffering from ARDS including patients suffering from the coronavirus.  The primary cause of death from respiratory viruses like the coronavirus and influenza, are the result of the fluids accumulating inside the alveoli (the tiny air sacs of the lungs) which ultimately leads to the failure of the transfer of oxygen to and carbon dioxide out of the blood.  The current primary treatment for ARDS is oxygen therapy along with ventilator support.

In cases where oxygen therapy and ventilator support are not effective, extracorporeal membrane oxygenation (ECMO), which circulates a patient's blood through an oxygenation membrane, has been used to remove carbon dioxide from and diffuse oxygen into a patient's blood while giving a patient's lungs a chance to recover.  Belluscura and Separation Design are designing and developing next generation, cost-effective, portable ECMO technology to treat ARDS patients.

Commenting on the patenting activities, Bob Rauker, CEO of Belluscura, said: "We are very excited about our next generation oxygen technologies.  With the launch this year of our first product, the X-PLOR™ portable oxygen concentrator, into the respiratory treatment field where over 250 million people suffer from chronic obstructive pulmonary disease (COPD), the third leading cause of death, it is critical that we continue to innovate into the ever-expanding oxygen therapy market."

About Belluscura plc

Belluscura is focused on developing 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. Belluscura is developing innovative enriched oxygen treatment platforms that reduce the cost of treatment and increase available treatment options. To learn more about Belluscura, please visit www.belluscura.com.

Tekcapital owns 18.9% of the share capital of Belluscura.

Clifford M. Gross Ph.D., Executive Chairman of Tekcapital plc commented:

"We are pleased to see the additional progress of Belluscura as it continues to strengthen its intellectual property in the oxygen therapy space to help patients afflicted with acute respiratory distress caused by the Coronavirus. Additionally, we anticipate that Belluscura is likely to receive FDA clearance for their portable oxygen concentrator within the next 90 days. "

 

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 Flagstaff

Clifford M. Gross, Ph.D. 






SP Angel Corporate Finance LLP (Nominated Adviser and Joint Broker)


+44 (0) 20 3470 0470 

Richard Morrison/Charlie Bouverat (Corporate Finance)



Abigail Wayne (Corporate Broking)






Novum Securities Limited (Joint Broker) 


+44 (0) 20 7399 9427

Colin Rowbury (Corporate Broking) 






Flagstaff Strategic and Investor Communications

               

+44 (0) 20 7129 1474

Tim Thompson/Andrea Seymour/Fergus Mellon

 



 

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 Tekcapital or Belluscura 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 Tekcapital or Belluscura'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 Salarius may vary materially from those described explicitly or implicitly in the relevant forward-looking statement. Neither Tekcapital nor Belluscura 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 London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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