- Nemaura Medical announced the successful completion of its initial shipment of sugarBEAT(R) continuous glucose monitor devices to its UK licensee
- The initial shipment, which comprised 5,000 CGM devices and 200,000 sensors, is expected to result in follow-on monthly orders of up to 2 million sensors and 15,000 CGM devices over the next two years
- Following the launch of the sugarBeat(R), Nemaura Medical have released the MiBoKo application, designed to help individuals track their metabolic health scores
Nemaura Medical (NASDAQ: NMRD), a medical technology company focused on developing and commercializing non-invasive wearable diagnostic devices and supporting personalized lifestyle coaching programs, revealed that it had recently completed its initial shipment of sugarBEAT(R) continuous glucose monitor (“CGM”) devices to its UK licensee, MySugarWatch Limited (“MySugarWatch”), previously known as DB Ethitronix Limited (https://ibn.fm/D3B2b).
MySugarWatch will market the sugarBEAT product under the MySugarWatch(R) brand and has developed a subscription-based diabetes coaching and management service packaged alongside the sugarBEAT monitor and related device sensors, an offering directed towards individuals diagnosed with type 2 diabetes. MySugarWatch had previously placed an initial order for 5,000 CGM devices and 200,000 sensors and anticipate a rolling monthly forecast of up to 2 million sensors and 15,000 CGM devices over the next two years, to target the over 4.9 million diabetics in the UK currently as well as the 13.6 million people at increased risk of contracting Type 2 diabetes.
“This initial shipment of sugarBEAT(R) CGM devices to our UK 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,” commented Nemaura CEO Dr. Faz Chowdhury. “Starting in the UK, patients with Type 2 diabetes can now benefit from a less invasive glucose monitoring option that should improve patient lifestyle, adherence, and outcome.”
Founded in 2011, Nemaura Medical has made it its mission to develop non-invasive wearable diagnostic devices designed to help diabetic and near-diabetic patients monitor blood glucose levels by measuring blood makers at the skin’s surface. Following the launch of the company’s flagship product, the sugarBEAT(R), Nemaura recently launched their MiBoKo application, a service offering that has been in development for the past 18 months and which seeks to address a significant mass-market opportunity which the Company believes could benefit roughly a third to half of the global population.
The MiBoKo application uses a non-invasive glucose sensor to measure and monitor users’ metabolic health scores, which are based on glucose tolerance or insulin resistance. Prediabetic patients or those facing obesity concerns or looking to monitor their glucose intake would all benefit from using the application.
Historically, diabetic and near-diabetic patients have monitored their blood sugar levels by collecting blood capillary samples, which are subsequently analyzed by an accredited laboratory (https://ibn.fm/ggtM1). Nemaura Medical have sought to simplify this process through a non-invasive and rapid procedure carried out by their proprietary device, a solution which has become increasingly essential during the ongoing Covid-19 pandemic, wherein patients with type 2 diabetes who contracted the virus were shown to be nearly 50% more likely to wind up in intensive care if they had mismanaged their blood sugar levels over the long-term, relative to those with better long-term glycaemic control (https://ibn.fm/IggsY).
For more information, visit the company websites at 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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