The IPO of USA headquartered Belluscura, which also has offices in London, expects to see the company valued at £51m following admission to AIM. Its debut is part of a process to help accelerate the commercial development of its lightweight FDA cleared portable oxygen concentrator. The device seeks to replace larger, heavy metal oxygen tanks and heavier portable oxygen concentrator devices.
Belluscura's first product, the X-PLO₂ R™ seeks to deliver up to 95% pure oxygen to patients to improve their quality of life to those with chronic lung ailments and diseases, including to sufferers of COVID-19 and those with certain 'long COVID' symptoms.
The multi-jurisdictional deal was led by Corporate Partner Lester Wilson, with assistance from Senior Associate Katy Philips, Amelia Mackie and Jenny Davies. Tax Partners John Toon and James Cashman advised on tax.
Neil Baldwin from SPARK Advisory Partners also advised Belluscura.
Lester Wilson, Corporate Partner at DWF, said: "We are delighted to have supported Belluscura on its debut on AIM. Its X-PLO₂ R™ will hopefully play a significant role in improving the lives of a significant number of people around the world and particularly those suffering from COVID-19."