Belluscura Receives Approval in Singapore
12/12/2023 07:00
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RNS Number : 4094W Belluscura PLC 12 December 2023
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.moh.gov.sg/news-highlights/details/speech-by-a-prof-benjamin-ong-director-of-medical-services-ministry-of-health-at-the-opening-of-the-2nd-international-symposium-on-respiratory-research-and-launch-of-the-academic-respiratory-initiative-on-pulmonary-health-%28tariph%29-19-march-2018#:~:text=About%205.9%25%20of%20adults%20in,adults%20in%20Singapore%20have%20asthma.)
**
https://www.6wresearch.com/industry-report/thailand-oxygen-therapy-equipment-market-outlook
(https://www.6wresearch.com/industry-report/thailand-oxygen-therapy-equipment-market-outlook)
***
https://www.6wresearch.com/industry-report/philippines-medical-oxygen-systems-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, Chairman
Robert Rauker, Chief Executive Officer
Simon Neicheril, Chief Financial Officer
SPARK Advisory Partners Limited Tel: +44 (0)20 3368 3550
Nominated Adviser
Neil Baldwin / Jade Bayat
Dowgate Capital Limited Tel: +44 (0)20 3903 7715
Broker
Russell Cook / Nicholas Chambers
MHP Tel: +44 (0)20 3128 8100
Financial PR & Investor Relations 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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