Tekcapital PLC (LON:TEK) shares soared on Monday as its portfolio firm Belluscura filed a patent for a portable oxygen enrichment system to treat patients suffering from respiratory illnesses brought on by infections such as coronavirus.
The IP investment firm said the patent application, which was filed alongside Belluscura’s exclusive research partner Separation Design Group, will cover novel modular portable oxygen enrichment ventilation systems for patients suffering from chronic obstructive pulmonary diseases (COPD) and acute respiratory distress syndrome (ARDS).
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"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 250mln people suffer from [COPD], the third leading cause of death, it is critical that we continue to innovate into the ever-expanding oxygen therapy market", said Belluscura chief executive Bob Rauker.
Clifford Gross, Tekcapital CEO, said: "We are very pleased to see the additional progress of Belluscura as it continues to develop intellectual property in the oxygen therapy space that can potentially help patients with COPD and acute respiratory distress syndrome brought on by viruses such as [coronavirus].”
News of the filing sent the shares surging 34.2% to 5.5p in early trading.