Nemaura Provides 2019 Year-End Corporate Update
December 20 2019 - 9:00AM
Nemaura Medical, Inc. (NASDAQ: NMRD), a medical technology
company commercializing sugarBEAT®, a non-invasive and flexible
continuous glucose monitor (CGM), together with BEAT®diabetes, a
health subscription service designed to help people with diabetes
and prediabetes to better manage their condition through
personalized lifestyle coaching, today provided a 2019 year-end
corporate update.
Dr. Faz Chowdhury, CEO of Nemaura, stated, “2019 was a
transformative year for our Company as we achieved a number of
major milestones. During the year, we received CE Mark
approval and laid the foundation for the commercial launch of
sugarBEAT® in Europe and several other key territories around the
world where CE approval can be used as the basis of product
registration. We also launched a subscription based package,
BEAT®diabetes to complement sugarBEAT® CGM and provide users with
additional digital and non-digital services for the management,
reversal or prevention of diabetes”.
The company started the first phase of our commercial launch of
sugarBEAT® in the United Kingdom with the first shipments of
sugarBEAT® CGM devices to diabetic and pre-diabetic patients from
whom positive user feedback has been received. The company is
poised to move aggressively into the commercial phase of the go to
market strategy in Europe with its current scale of manufacturing
that is entirely carried out in the United Kingdom. Nemaura also
continues to establish strategic partnerships and is diligently
working with its partners to develop the launch plan and various
subscription options.
Recently the company announced that it has expanded the
sugarBEAT® CGM capabilities by launching a new digital health
offering, BEAT®diabetes, which focuses on the prevention and
reversal of Type II diabetes through a range of holistic app and
coaching services encouraging behavioral change. Both BEAT®diabetes
and sugarBEAT® target the underserved $69 billion market for Type 2
diabetics and $50 billion market for pre-diabetics. Nemaura
is committed to adding additional services aimed at improving the
management of diabetes and reversing or preventing Type 2 diabetes.
Towards that end, management were pleased to announce a partnership
with the award-winning UK-based Changing Health to bring digital
behavior programs to improve the management, reversal and
prevention of Type 2 diabetes in multiple territories commencing
with the United Kingdom and Ireland. Changing Health is a provider
of digital coaching services to the National Health Service England
aimed at the prevention or reversal of Type 2 diabetes.
Nemaura is embarking on a number of additional initiatives to
improve how people with diabetes and prediabetes can manage,
reverse and prevent Type 2 diabetes through the BEAT®diabetes
health subscription service coupled with the non-invasive
sugarBEAT® CGM across the digital health, wearable health-tech and
diabetes sectors.
The company has adequate cash on hand and secured a $8 million
debt facility which was provided by an existing, long-term
investor. The company is believes it is in its strongest position
to date, given its cash position, credit line, expected revenues,
and the significant potential value of the business offering.
In the beginning of December, management decided to effect a
1-for-10 reverse split, which allowed the company to comfortably
regain compliance with NASDAQ and affords Nemaura a share price
that management believe will enable the company to attract a
broader universe of institutional investors. Given the significant
progress this year, the company believes the outlook for the
business is stronger than ever and it is uniquely positioned to
become a leading provider of technology and services within the
underserved market for Type 2 diabetics and pre-diabetics, .
Management wishes everyone happy and healthy holidays and look
forward to providing additional updates as Nemaura continues to
execute on its commercial strategy.”
About Nemaura Medical, Inc.:Nemaura Medical,
Inc. (NMRD), is a medical technology company commercializing
sugarBEAT® and BEAT®diabetes. sugarBEAT® is a non-invasive and
flexible continuous glucose monitor (CGM) providing actionable
insights derived from real time glucose measurements and daily
glucose trend data, which help insulin users, type 2 diabetics and
pre-diabetics respectively to better manage, reverse and prevent
the onset of diabetes. BEAT®diabetes is a health subscription
service providing 1-on-1 lifestyle coaching and behavior change
recommendations driven by personalized data provided by sugarBEAT®.
Insulin users can also adjunctively use sugarBEAT® for insulin
dosage purposes when calibrated by a finger stick reading.For more
information visit: www.NemauraMedical.com.
Cautionary Statement Regarding Forward Looking
Statements:The statements in this press release that are
not historical facts, and may constitute forward-looking statements
that are based on current expectations and are subject to risks and
uncertainties that could cause actual future results to differ
materially from those expressed or implied by such statements.
Those risks and uncertainties include, but are not limited to,
risks related to regulatory approvals and the success of Nemaura’s
ongoing studies, including the safety and efficacy of Nemaura’s
sugarBEAT® system, the failure of future development and
preliminary marketing efforts, Nemaura’s ability to secure
additional commercial partnering arrangements, risks and
uncertainties relating to Nemaura and its partners’ ability to
develop, market and sell sugarBEAT®, the availability of
substantial additional equity or debt capital to support its
research, development and product commercialization activities, and
the success of its research, development, regulatory approval,
marketing and distribution plans and strategies, including those
plans and strategies related to sugarBEAT®. These and other risks
and uncertainties are identified and described in more detail in
Nemaura’s filings with the Securities and Exchange Commission,
including, without limitation, its Annual Report on Form 10-K for
the current year, its Quarterly Reports on Form 10-Q, and its
Current Reports on Form 8-K. Nemaura undertakes no obligation to
publicly update or revise any forward-looking statements.
Contact:Crescendo Communications,
LLC212-671-1021NMRD@crescendo-ir.com
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