Last checked at 12 Dec 2023 07:00
Belluscura plc
("Belluscura" or the "Company")
Belluscura Receives Approval to Distribute the X-PLOR Portable Oxygen Concentrator in Singapore
Distribution of its Portable Oxygen Concentrator to Begin Under InnoMax Licensing Agreement
LONDON, U.K. and PLANO, TX, U.S. (12 December 2023). Belluscura plc (AIM:BELL), a leading medical device developer focused on lightweight and portable oxygen enrichment technology, announces that it has received approval from the Singapore Health Sciences Authority to distribute the X-PLOR® portable oxygen concentrator ("POC") in Singapore.
Singapore forms part of the licensed territories covered by the Exclusive License Agreement with InnoMax Medical Device Technologies ("InnoMax") for the manufacture and distribution of Belluscura's portable oxygen concentrators, which was signed in August 2023. InnoMax will pay a minimum royalty and a share of profits on the X-PLOR® device and accessories.
Approximately 5.9% of adults in Singapore above 40 years of age have chronic obstructive pulmonary disease ("COPD"), although this is likely an underestimate as many patients remain undiagnosed*. Singapore is a small country, but it provides a gateway to other ASEAN countries as any medical devices approved in Singapore receive expedited review in, for example, Thailand and in the Philippines.
Regarding the wider region, over 1 million people in Thailand suffer from COPD**. The medical oxygen systems market in the Philippines is also expected to register a CAGR of 7.10%, reaching USD 86 million on account of increasing prevalence of respiratory diseases resulting from air pollution and smoking, leading to higher demand for oxygen therapy systems amongst patients suffering from COPD***.
Further updates on the Exclusive License Agreement and additional territories covered by the Agreement will be provided by the company as it continues to build out its presence in the region and market its POCs, including the DISCOV-R?.
* Ministry of Health, Singapore - 2018
** https://www.6wresearch.com/industry-report/thailand-oxygen-therapy-equipment-market-outlook
*** https://www.6wresearch.com/industry-report/philippines-medical-oxygen-systems-market-outlook
Bob Rauker, Chief Executive Officer, Belluscura plc, commented:
"We are very excited to receive this approval, enabling us to launch sales in Singapore, as a first market in the ASEAN region. With our arrangement with InnoMax in place, we are confident that we can now deliver on the significant potential for our products in this large and growing region."
For further information please contact:
Belluscura plc | Tel: +44 (0)20 3128 8100 |
Adam Reynolds, ChairmanRobert Rauker, Chief Executive OfficerSimon Neicheril, Chief Financial Officer | |
SPARK Advisory Partners Limited Nominated Adviser | Tel: +44 (0)20 3368 3550 |
Neil Baldwin / Jade Bayat | |
Dowgate Capital Limited Broker | Tel: +44 (0)20 3903 7715 |
Russell Cook / Nicholas Chambers | |
MHP Financial PR & Investor Relations | Tel: +44 (0)20 3128 8100 email: Belluscura@mhpgroup.com |
Katie Hunt/Matthew Taylor |
About Belluscura plc (www.belluscura.com)
Belluscura is a UK medical device company focused on developing oxygen enrichment technology spanning broad industries and therapies. Our innovative oxygen technologies are designed with a global purpose: to create improved health and economic outcomes for the patients, healthcare providers and insurance organisations.
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