Nemaura Medical Licenses Validated Mobile Application to Create Powerful Diabetes Prevention and Management Suite of Products...
September 21 2020 - 8:00AM
Nemaura Medical, Inc. (NASDAQ: NMRD)(“Nemaura” or the “Company”), a
medical technology company focused on developing and
commercializing non-invasive wearable diagnostic devices and
supporting personalized lifestyle coaching programs, today
announces it has licensed the rights to Healthimation, LLC’s mobile
application based digital program, a well-validated and
award-winning 12-week program to help patients manage their weight
and pre-diabetes or early diabetes conditions. The program is
intended to be combined with the company’s proBEAT™ non-invasive
patch CGM (continuous glucose monitor) for an enhanced behavioral
change experience.
Developed at a major diabetes center in the U.S. over more than
15 years, the digital program curriculum implements the most
advanced approach to nutrition, exercise, and behavioral change and
has been clinically tested and has demonstrated many benefits to a
patient’s overall health, including weight reduction, significant
improvements in A1C, lipid profile, and blood pressure, and a
reduction in medications taken. Healthimation, LLC has implemented
this curriculum in an app that gamifies daily tasks and uses
engaging high-quality animation and live coaching to encourage
users to make healthy behavior changes, such as improvements in
personal nutrition and exercise coaching, via the development and
education of the app’s avatar Lena. Through machine-learning
technology, the software makes Lena “smarter”, resulting in more
personal recommendations for the patient over time.
Dr. Faz Chowdhury, Nemaura Medical’s Chief Executive Officer
stated, “We are delighted and honored to be working with
Healthimation to bring diabetic patients an easy-to-use solution
that combines our proBEAT™ CGM product with a clinically validated
diabetes management and reversal program. Our ultimate aim is to
help patients with pre-diabetes from becoming diabetic while also
providing support to those currently with Type 2 diabetes to
potentially reverse their condition. Diabetes continues to be one
of the largest growing medical problems in the U.S., and our aim is
to provide an unparalleled product and suite of services that can
compete favorably with existing products on the market that are
less convenient and more invasive for patients.”
The Company believes that combination of the digital program
with Nemaura’s proBEAT™ offering expected to launch this year, will
allow for more beneficial outcomes in patients with Type 2
diabetes, help prevent high-risk pre-diabetic patients from
becoming diabetic, and possibly even lead to diabetes remission in
some patients. The integrated offering offers numerous advantages
in breadth of application and depth of features over other
competing digital platforms on the market attempting to address the
weight control and/or diabetes markets, many of which are more
expensive and more invasive than the Company’s anticipated
solution.
SugarBEAT®, Nemaura’s patented, CE marked, needle-free CGM that
is non-invasive, affordable, and painless, is easily applied to the
skin via a small unobtrusive patch. The device transmits blood
glucose data to users and/or healthcare professionals via a mobile
app to allow for better monitoring or treatment. The Company’s
BEAT™diabetes is a planned health subscription service driven by
the personalized data provided by sugarBEAT® and processed through
an artificial intelligence engine to provide personalized 1-on-1
lifestyle coaching and behavior change recommendations.
In the U.S., there are currently 88 million patients considered
to be pre-diabetic and 25 million patients with Type 2 diabetes.
Worldwide, there are 420 million patients with diabetes and over 1
billion people considered pre-diabetic.
About Nemaura Medical, Inc.
Nemaura Medical Inc. is a medical technology company developing
and commercializing non-invasive wearable diagnostic devices. The
company is currently commercializing sugarBEAT®, BEAT™diabetes, and
proBEAT™. sugarBEAT®, a CE mark approved Class IIb medical device,
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 may help people
with diabetes and pre-diabetes to better manage, reverse, and
prevent the onset of diabetes. Nemaura has submitted a PMA
(Premarket Approval Application) for sugarBEAT® to the U.S. FDA.
proBEAT™ combines non-invasive glucose data processed using
artificial intelligence and a digital healthcare subscription
service and is expected to be launched in the U.S. as a general
wellness product.
The Company sits at the intersection of the global Type 2
diabetes market that is expected to reach nearly $59 billion by
2025, the $50+ billion pre-diabetic market, and the wearable
health-tech sector for weight loss and wellness applications that
is estimated to reach $60 billion by 2023. Nemaura expects to
launch proBEAT™ in the U.S. and sugarBEAT® in the U.K. and Germany
by year-end 2020.
For more information, please visit www.NemauraMedical.com.
Cautionary Statement Regarding Forward-Looking
Statements:
The statements in this press release that are not historical
facts 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, the launch of
proBEAT™ in the US, risks related to regulatory status and 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 proBEAT™, 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 both
proBEAT™ digital health, and sugarBEAT®. There can be no assurance
that the company will be able to reach a part of or any of the
global market for CGM with its products/services. The FDA reserves
the right to re-evaluate their decision that proBEAT™ qualifies as
a general wellness product should it become aware of any issues
such as skin irritation or other adverse events from the device, as
well as any misuse impacting patient safety, and any other reason
as the FDA may see fit at its discretion to determine the product
does not fit the definition of a general wellness product. These
and other risks and uncertainties are identified and described in
more detail in Nemaura’s filings with the United States Securities
and Exchange Commission, including, without limitation, its Annual
Report on Form 10-K for the most recently completed fiscal 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:
Jules AbrahamCORE IR917-885-7378julesa@coreir.com
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