Tekcapital PLC on Thursday positively noted that Belluscura PLC’s developments over the past weeks.

Tekcapital is a London-based intellectual property investment company, while Belluscura is a London-headquartered medical device developer. Tekcapital holds an about 11% stake in Belluscura. Both are listed on AIM in London.

Belluscura shares were down 4.5% to 36.30 pence each on Thursday morning, while Tekcapital shares traded 1.7% lower at 11.80p.

Tekcapital noted that Belluscura reached an agreement which could secure £8 million growth capital to meet demands of recent orders and licensing royalty agreements, totalling up to potentially £85 million.

Further, Tekcapital highlighted Belluscura’s first purchase order from a Hong Kong-based distributor, which Belluscura had reported last month.

Tekcapital Chief Executive Officer Clifford Gross said: ‘We are very pleased to see the significant progress of Belluscura with enhancements to their balance sheet, regulatory approvals, personnel, and sales pipeline. Together we view these recent developments as transformative for Belluscura.’

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