Loughborough, England, Oct. 03, 2019 (GLOBE NEWSWIRE) -- Nemaura Medical, Inc. (NASDAQ: NMRD) (“Nemaura”), a medical technology company focused on the commercialization of SugarBEAT® as a non-invasive, affordable and flexible Continuous Glucose Monitor (CGM) for use by diabetics and pre-diabetics, today provided an update regarding the commercial launch of SugarBEAT® and feedback from its first patient user experiences as presented at the recent symposia hosted by Nemaura at the 55th Annual Meeting of the European Association for the Study of Diabetes (EASD) in Barcelona.
Dr. Faz Chowdhury, Chief Executive Officer, discussed key milestones in the development and plans for the commercial rollout program for SugarBEAT® in the UK, Ireland, Germany and other key European markets following its recent CE mark approval in the European Union.
Dr. Fred Schaebsdau, VP Strategic Alliances, highlighted key competitive advantages of SugarBEAT® over current invasive CGM technologies. SugarBEAT® represents the world’s first non-invasive, safe, needle-free, CGM as it does not puncture the skin to insert a sensor and allows users the freedom to decide when, and for how long to wear the patch. Dr. Schaebsdau also discussed the positive first user experiences indicating that SugarBEAT® can be an effective tool for early diagnosis of type 2 diabetes, therapy optimization, prevention, improvement and lifestyle change.
Dr. Iain Cranston, a diabetes specialist based in the UK at Portsmouth Hospital NHS Trust presented prior clinical data confirming that the SugarBEAT® is uniquely positioned to target the Type 2 diabetes and pre-diabetic markets, as well as health conscious individuals that can expect early benefits with the treatment by adopting self-management programs.
Dr. Faz Chowdhury, CEO of Nemaura commented, “With our current scale of manufacturing in United Kingdom and the first shipments of SugarBEAT® CGM devices to diabetic and pre-diabetic patients, we believe we are well positioned to move aggressively into the commercial phase of our strategy in Europe. We have established strategic partnerships in the United Kingdom and Ireland to commence sales and distribution, and are diligently working with our partners to develop the launch plan and various subscription options.”
“We are very pleased to report positive first user experiences at this premier industry conference. Importantly, as a daily disposable adhesive skin-patch that sits on the surface of the skin, SugarBEAT® is painless, and versatile in terms of wear time. Given these benefits, we look forward to aggressively entering the underserved markets for both Type 2 diabetics and pre-diabetics, which are estimated at $80 billion per year.”
Nemaura’s presentations from the European Association for the Study of Diabetes (EASD) symposia in Barcelona on September 19, 2019 are available at the Company’s website: https://nemauramedical.com/easd-symposia-2019/
About Nemaura Medical, Inc.:
Nemaura Medical, Inc. (NASDAQ: NMRD), is a medical technology company commercializing SugarBEAT® as a non-invasive, affordable and flexible Continuous Glucose Monitor (CGM) designed to help people with diabetes and pre-diabetics better manage their glucose levels by spending more time in range. Insulin users can adjunctively use SugarBEAT® when calibrated by a finger stick reading. SugarBEAT® consists of a daily, disposable adhesive skin-patch connected to a small form factor rechargeable transmitter, connected via Bluetooth to a specially designed mobile application, which displays glucose readings at five-minute intervals throughout the day.
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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 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.
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