Intellectual property developer Tekcapital PLC (LON:TEK) is backing the development of a next generation portable oxygen concentrator (POC).
The Aim-listed firm’s Belluscura arm has signed a co-exclusive licence and development agreement with Separation Design Group, a leading research laboratory in the field of oxygen concentrators, to develop the POC.
As part of the agreement, Belluscura has licensed a portfolio of six intellectual properties from SDG and has agreed to provide monthly funding towards the development of a prototype POC device.
POCs are typically prescribed to people suffering from chronic obstructive pulmonary disease.
“With the portable oxygen concentrator market expected to nearly double to US$2.2bn by 20215, we believe that this opportunity has the potential to advance Belluscura's mission of investing in undervalued technology in order to provide premium medical devices at affordable prices," said Bob Rauker, chief executive officer of Bellascura.