Belluscura has secured approval for the distribution of its X-PLOR portable oxygen unit from the Hong Kong Department of Health.
Hong Kong falls under the coverage of the exclusive licensing agreement signed last month with their Chinese distribution partner. Belluscura also said they have already received their first purchase order from Hong Kong.
Belluscura has entered into an exclusive licensing agreement worth up to $55m in royalties over a ten-year period covering China, Hong Kong, Macau and Singapore.
“We are very excited to receive the approval and begin sales in Hong Kong,” said Bob Rauker, Chief Executive Officer, Belluscura
“I am very pleased with our operations, quality control and sales teams receiving approval ahead of schedule. Hong Kong is phase one of our joint expansion with Innomax into Asia.”
Belluscura shares were over 2% higher in early trade on Tuesday.