Belluscura begins manufacturing in China

RNS Number : 0359V

Belluscura PLC

03 April 2023

 

3 April 2023

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED.  ON PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

Belluscura plc

("Belluscura" or the "Company")

  Belluscura begins manufacturing in China

Receives award in best new product category at the largest home medical trade show in the US

LONDON, U.K. AND PLANO, TX, U.S. (3 April 2023).   Belluscura plc (AIM: BELL), a leading medical device developer focused on lightweight and portable oxygen concentrator ("POC") technology, provides an update on recent progress.

Manufacturing in China

Belluscura has commenced manufacturing in China of its X-PLOR ^TM portable oxygen concentrator.

This follows the manufacturing agreement announced in March 2022 with InnoMax Medical Technology, Ltd to manufacture the X-PLOR portable POC in China, enabling the Company to accelerate its international expansion by opening up markets in Asia and beyond.  Regulatory approval and distribution within China are expected over the summer.

Strong growth is expected in the Asia Pacific market, with the medical oxygen concentrator industry expected to reach $1 bn by 2027¹ and nearly 100 million people in China with chronic obstructive pulmonary disease ("COPD")².

Medtrade Award

Belluscura is proud to announce that having debuted the DISCOV-R™ portable oxygen concentrator at Medtrade between the 29-30 March this year, it was awarded the Silver Award in the Best New Product category.

Held since 1979, Medtrade is the largest home medical equipment ("HME") trade show and conference in the US, with hundreds of HME manufacturers exhibiting and thousands of HME providers attending the conference each year for the largest annual sourcing opportunity for home medical equipment.

The DISCOV-R, which is scheduled to launch in the US this summer, was described by numerous attendees as 'transformational' to the supplemental oxygen industry, given its amazing weight of only c.6.5 lbs, ability to produce 2,000ml of pulse and continuous flow oxygen, and its Nomad Biometric^TM App that can connect via Bluetooth® to smartphones, wearable fitness devices and other monitors.

The U.S. home medical equipment market generated $12.07 billion in 2021 and is estimated to reach $19.89 billion by 2031, witnessing a CAGR of 5.1% from 2022 to 2031, according to research from Allied Market Research published in February 2023 ³ .

Continued progress across the business

Orders of the X-PLOR portable concentrator continue to grow, as new distributors are brought on board, and are in line with company expectations.

We continue to move forward with the CE and UK CA mark registration processes, with a number of approvals anticipated later this year.

Robert Rauker, Chief Executive Officer, Belluscura plc, commented:

"We continue to make good progress, with manufacturing in China commencing, increased orders for X-PLOR and the tremendous reception of DISCOV-R by the industry at Medtrade."

¹ Source:   Coherent Market Insights - https://www.coherentmarketinsights.com/market-insight/oxygen-concentrators-market-198

² Source:   ScienceDaily - https://www.sciencedaily.com/releases/2018/04/180409185331.htm

³ Source:   Allied Market Research - https://www.alliedmarketresearch.com/us-home-medical-equipment-market-A11059 

For further information, please contact:

Belluscura plc	www.belluscura.com
Robert Rauker, Chief Executive Officer	via MHP
Anthony Dyer, Chief Financial Officer
SPARK Advisory Partners Limited (NOMAD)	Tel: [phone]
Neil Baldwin
Dowgate Capital Limited (Broker)	Tel: [phone]
James Serjeant / Nicholas Chambers
MHP (Financial PR and Investor Relations)	Tel: [phone]
Katie Hunt / Pete Lambie / Matthew Taylor	Email: [e-mail]

About Belluscura plc   ( www.belluscura.com )

Belluscura is a UK medical device company focused on developing high performing, lightweight and portable oxygen enrichment technology used in a broad range of industries and therapies. Our innovative oxygen technologies are designed with a global purpose: to create improved health, mobility and economic outcomes for patients, healthcare providers and insurance organisations.

 

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