TIDMTEK
Tekcapital plc
17 August 2023
17 August 2023
Tekcapital Plc
("Tekcapital", the "Company" or the "Group")
Portfolio Companies Update
Tekcapital Plc (AIM: TEK), the UK intellectual property
investment group is pleased to provide a summary of latest
developments across certain of its portfolio companies.
Belluscura
Belluscura plc ("Belluscura" AIM: BELL), announced on 16 August
2023 it has received purchase orders for over 6,500 of its
next-generation DISCOV-R portable oxygen concentrator. This
represents approximately US$15 million of potential revenue to
Belluscura plc, as estimated by its management team. The recent
purchase orders follow the signing of several distribution
agreements with medical device distributors and other home
healthcare providers, including a distribution agreement with a
division of McKesson, one of the largest distributors of
pharmaceuticals and medical devices in North America, earlier this
month and a marketing agreement with GoodRx(R), a leading digital
healthcare platform, in February 2023. Belluscura has received
multiple additional requests from leading oxygen homecare providers
in the US to distribute the DISCOV-R.
Tekcapital owns 15,138,767 shares of Belluscura plc
(11.16%).
MicroSalt
MicroSalt Ltd ("MicroSalt") has been making steady progress
towards its planned IPO. Advanced discussions with commercial
partners including key players in the snack food industry are
taking place in order to launch multiple products using Microsalt
this year, with purchase orders anticipated in short order.
MicroSalt has also demonstrated good traction in the B2C segment,
with:
- two new partners based in the Philippines - Healthy Options
and S&R Membership Shopping placing commercial orders for
SaltMe!(R) Crisps; and
- expanding its US retail footprint for its low-sodium,
full-flavour saltshakers by 131 stores as announced in June
2023.
Tekcapital owns 97% of the share capital of MicroSalt Ltd. and
6,034,683 shares (78%) of MicroSalt Inc., its U.S. subsidiary.
Innovative Eyewear
Lucyd Ltd ("Lucyd") and its US subsidiary, Innovative Eyewear
Inc announced a multi-year, global licensing agreement with
Authentic Brands Group for Reebok(R) Smart Eyewear. Lucyd believe
this represents a significant accomplishment towards
revolutionizing the sport eyewear segment with the convenient
access to info and audio content and freedom from reliance on phone
screens made possible by its Bluetooth frame technologies.
In June 2023, Lucyd conducted a successful secondary offering to
raise the capital (US$4.7m) needed to launch smart eyewear
collections under its new Nautica, Eddie Bauer and Reebok
partnerships, and its forthcoming Bluetooth safety eyewear. Both
the Nautica Powered by Lucyd line and its Lucyd Safety smart
eyewear line are expected to be launched in Q4 2023. The Eddie
Bauer and Reebok Powered by Lucyd lines are expected to launch in
early Q1 2024.
The proceeds received from the recent fundraise will be used to
manufacture and market all four of these new product lines, as well
as make further enhancements to the Lucyd app. At the same time,
Lucyd has announced in the last few months:
- new transitional blue light blocking lens designed to maximize
utility, eye protection and user satisfaction of Lucyd eyewear.
- a significant update to the Lucyd App, its patent-pending,
voice-controlled onramp to ChatGPT for smart eyewear. This includes
the development of an improved user experience, new tools and
prompts to help the user get the most out of ChatGPT, a streamlined
onboarding experience, and a premium subscription with unlimited
access to ChatGPT and additional premium features
- a new modular retail display system which has so far been
deployed in about 20 partner locations, providing an immersive
Lucyd brand experience with a 10" video screen.
Tekcapital currently owns 5,189,086 shares of Innovative
Eyewear, Inc. (approximately 40%).
The Company intends to provide an update on Guidant's recent
commercial and operational progress in due course.
For further information, please contact:
Tekcapital Plc Via Flagstaff
Clifford M. Gross, Ph.D.
SP Angel Corporate Finance LLP
(Nominated Adviser and Broker) +44 (0) 20 3470 0470
Richard Morrison/Charlie Bouverat (Corporate
Finance)/Abigail Wayne / Rob Rees (Corporate
Broking)
Flagstaff Strategic and Investor Communications +44 (0) 20 7129 1474
Tim Thompson/Andrea Seymour/Fergus Mellon
About Tekcapital plc
Tekcapital creates value from investing in new,
university-developed discoveries that can enhance people's lives
and provides a range of technology transfer services to help
organisations evaluate and commercialise new technologies.
Tekcapital is quoted on the AIM market of the London Stock Exchange
(AIM: symbol TEK) and is headquartered in the UK. For more
information, please visit www.tekcapital.com .
LEI: 213800GOJTOV19FIFZ85
Forward-Looking Statements
This press release is for informational purposes only. The
information herein does not constitute investment advice nor an
offer to invest and may contain statements related to our future
business and financial performance and future events or
developments involving Innovative Eyewear, Inc., Lucyd or
Tekcapital that may constitute forward-looking statements. These
statements may be identified by words such as "expect," "look
forward to," "anticipate" "intend," "plan," "believe," "seek,"
"estimate," "will," "project" or words of similar meaning. We may
also make forward-looking statements in other reports, in
presentations, in material delivered to customers, stakeholders and
in press releases. In addition, our representatives may from time
to time make oral forward-looking statements. Such statements may
be based on the current expectations and certain assumptions of
Tekcapital or Lucyd's management. Please note that these are
subject to a number of risks, uncertainties and factors, including,
but not limited to those described in various disclosures. Should
one or more of these risks or uncertainties materialize, or should
underlying expectations not occur or assumptions prove incorrect,
actual results, performance or achievements of Innovative Eyewear
Inc., Lucyd and/or Tekcapital may vary materially from those
described explicitly or implicitly in the relevant forward-looking
statement. Neither Innovative Eyewear Inc, Lucyd nor Tekcapital
intends, nor assumes any obligation, to update or revise these
forward-looking statements in light of developments which differ
from those anticipated.
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END
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