Nemaura (NASDAQ: NMRD), a medical technology company focused on developing and commercializing a daily disposable, wearable glucose sensor and supporting personalized lifestyle coaching programs, today released its financial results for the quarter ending Sept. 30, 2022, and provided a business update. “Our commercial and manufacturing scale-up activities accelerated in the fiscal second quarter, as we continue to scale operations to support commercialization of our non-invasive glucose monitoring devices and sensors. We are looking forward to a product launch in the coming months in the Middle East through our licensee TPMENA, whilst we continue to support our U.K. licensee with their operations,” said Nemaura CEO Dr. Faz Chowdhury. “Meanwhile, our relationship with Eversana should allow us to penetrate the U.S. market on a large scale with our BEATdiabetes program in an efficient manner. Eversana is widely regarded as the leader in digital therapeutic commercialization and has deep experience with product launches. We are eager to enter this next chapter of our corporate development.”
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About Nemaura Medical Inc.
Nemaura 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 noninvasive 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 prediabetes 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 noninvasive glucose data processed using artificial intelligence and a digital health care subscription service that has been launched in the U.S. as a general wellness product as part of its BEAT(R) diabetes program that is currently undergoing pilot studies. 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, visit the company’s website at www.NemauraMedical.com.
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