Nemaura Medical (NASDAQ: NMRD), a medical technology company focused on developing and commercializing noninvasive wearable diagnostic devices and supporting personalized lifestyle coaching programs, today announced that it has completed its initial shipment of sugarBEAT(R) continuous glucose monitor (“CGM”) devices to its U.K. licensee, MySugarWatch Limited, previously DB Ethitronix Limited. According to the update, MySugarWatch will sell the CGM under the brand MySugarWatch(R) and has developed a subscription-based diabetes coaching and management service to be provided alongside the CGM and device sensors primarily targeting those with type 2 diabetes. “This initial shipment of sugarBEAT CGM devices to our U.K. licensee allows the company to now recognize revenue for the first time in our corporate history and is a true milestone in our development and growth,” Nemaura CEO Dr. Faz Chowdhury said in the news release. “Starting in the U.K., patients with type 2 diabetes can now benefit from a less invasive glucose monitoring option that should improve patient lifestyle, adherence and outcome. We look forward to the introduction of sugarBEAT to patients across the world, as we continue our mission of developing and introducing ground-breaking health care solutions for many of the greatest health care challenges seen across the globe.”
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About Nemaura Medical Inc.
Nemaura Medical is a medical technology company developing and commercializing noninvasive wearable diagnostic devices. The company is currently commercializing sugarBEAT(R) and proBEAT(TM). 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 health care subscription service and has been launched in the U.S. as a general wellness product as part of its BEAT(R) diabetes program. 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. For more information, please visit www.NemauraMedical.com.
NOTE TO INVESTORS: The latest news and updates relating to NMRD are available in the company’s newsroom at https://ibn.fm/NMRD
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