Tekcapital subsidiary applies for portable lung patent

Tekcapital jumped on Tuesday as its portfolio company Belluscura expanded its oxygen therapy technology with the filing of a broad patent application covering oxygen enrichment inventions relating to a portable artificial lung and wound care devices.

Working in conjunction with its exclusive research partner Separation Design Group, the latest patent application involves incorporating and expanding the AIM traded company's existing oxygen enrichment patent portfolio into an innovative, next generation portable artificial lung and a novel wound care treatment device.

Bob Rauker, chief executive of Belluscura, said: "We are very excited about our next generation oxygen technology. With the anticipated launch of our X-PLOR portable oxygen concentrator later this year into the respiratory treatment field where over 250 million people suffer from chronic obstructive pulmonary disease, the third leading cause of death, it is critical that we continue to innovate into the ever-expanding oxygen therapy market."

Tekcapital owns approximately 29% of Belluscura, which was established with the objective of improving healthcare through innovation and is developing a proprietary oxygen concentrator system with a planned commercial release in 2019 that will be used to deliver supplemental long-term oxygen therapy to patients suffering from chronic respiratory conditions such as COPD, asthma, occupational lung diseases and pulmonary hypertension.

Clifford Gross, chairman at Tekcapital, said: "We are delighted to see the continued progress of Belluscura."

Tekcapital's shares were up 5.86% at 5.87p at 1324 GMT.