Belluscura is back with a UK IPO
Belluscura filed an initial public offering (IPO) last month more than three years after withdrawing its proposed UK IPO
The London-based company, with US headquarters in Plano, Texas, on May 24 confirmed an issue price of approximately $ 24.2 million (£ 17.5 million) for the placement. on the AIM market of the London Stock Exchange.
Belluscura today closed at $ 78.22 (£ 56.50) per share on the London Stock Exchange. CEO Robert Rauker noted in an email to Mass device that the IPO has been oversubscribed and the company is now trading between 20% and 24% above the IPO price.
In December 2017, the company withdrew its plans for its $ 13 million UK IPO over concerns with market conditions, with backer Tekcapital saying the pullout was due to “current market conditions and certain other corporate investment fund / venture capital requirements not having been met within the prescribed timeframe.
Belluscura was created by Tekcapital in 2015 to commercialize intellectual property in the field of medical devices, now focusing on devices and treatments involving enriched oxygen.
In 2017, the company entered into a co-exclusive license and development agreement with Separation Design Group to develop and market the X-PLO₂R, a portable oxygen concentrator designed to deliver up to 800ml per minute of enriched oxygen. at a pulsed dose to a prescribed patient. long-term oxygen therapy. X-PLO₂R received 510 (k) clearance from the FDA in March of this year.