Thu, 22 Oct 2020

Nemaura Medical Licenses Validated Mobile Application to Create Powerful Diabetes Prevention and Management Suite of Products

LOUGHBOROUGH, Sept. 21, 2020 (GLOBE NEWSWIRE) -- 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.

To view the full announcement, including downloadable images, bios, and more, click here.

Key Takeaways:

  • In the U.S., there are 88 million patients considered 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.
  • Nemaura Medical''s proBEAT™ non-invasive patch CGM (continuous glucose monitor) plus Healthimation's proven, award-winning program creates a new force in behavioral change.
  • The combined medical device and mobile app can help people that are pre-diabetic from becoming diabetic and support those with Type 2 diabetes and potentially even reverse their condition

Click image above to view full announcement.

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.

Contacts:

Tristan Traywick

516-222-2560

tt@coreir.com

Source: Nemaura Medical

Distributed by: Reportable, Inc.

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