(Alliance News) - Tekcapital PLC on Thursday announced Texas-based portfolio company Belluscura requested clearance from the US Food and Drug Administration for its portable oxygen concentrator.
Tekcapital is a London-based intellectual property investment group focused on university technology.
Tekcapital noted that the X-PLO2R portable oxygen concentrator's clearance does not have a specific timetable but its use as a Covid-19 treatment has given it a priority review.
Tekcapital Executive Chair Clifford Gross said: "We are very glad to see that Belluscura has filed an application with the FDA requesting clearance of their X-PLO2R portable oxygen concentrator. Belluscura believes that their new device could be helpful to patients during the Covid-19 pandemic, and for the 250 million people worldwide suffering from chronic obstructive pulmonary disease."
Tekcapital owns 18% of Belluscura.
Tekcapital shares were up 15% at 14.89 pence each in London on Thursday morning.
By Greg Roxburgh; gregroxburgh@alliancenews.com
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TekCapital (TEK)