Nemaura Places SugarBEAT® Manufacturer Order for UK Commercial Launch
LOUGHBOROUGH, England–(BUSINESS WIRE)–Nemaura Medical Inc. (NASDAQ: NMRD), a medical technology company developing the wireless sugarBEAT® non-invasive glucose monitoring system for adjunctive use by persons with diabetes, today announced it has placed an initial order with its designated UK-based contract manufacturer for 12,500 sugarBEAT® rechargeable transmitters, which will be supplemented with approximately 100,000 skin-patches per month, also manufactured in the UK, in preparation for the anticipated sugarBEAT® product launch in the coming months.
SugarBEAT® consists of a daily-disposable adhesive skin-patch connected to a rechargeable transmitter, with an app displaying glucose readings at five minute intervals, and is expected to launch initially in the United Kingdom, upon CE Mark approval.
Dr Faz Chowdhury, CEO and chair of Nemaura Medical commented ‘We expect this initial order will support the successful launch of sugarBEAT® in the UK later this year, and also develop the capacities needed for subsequent scale up and launch in other countries which accept the CE Mark.’
Nemaura Medical recently completed a sugarBEAT® European three-stage clinical trial program consisting of 75 patients over 525 patient days in total, and have used this data to support their CE Mark application. A predecessor sugarBEAT® device, based on a wired wrist-watch form factor, received CE Mark approval in 2016.
About Nemaura Medical, Inc.
Nemaura Medical Inc. (NASDAQ: NMRD), is a medical technology company developing sugarBEAT® as a non-invasive, affordable and flexible glucose monitoring system for adjunctive use by persons with diabetes.
SugarBEAT® consists of a daily-disposable adhesive skin-patch connected to a rechargeable transmitter, with an app displaying glucose readings at five minute intervals.
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 Medical’s ongoing studies, including the safety and efficacy of Nemaura Medical’s sugarBEAT® system, the failure of future development and preliminary marketing efforts, Nemaura Medical’s ability to secure additional commercial partnering arrangements, risks and uncertainties relating to Nemaura Medical 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 Medical’s filings with the Securities and Exchange Commission, including, without limitation, its Annual Report on Form 10-K for the current year, its Quarterly Reports on Form 10-Q, and its Current Reports on Form 8-K. Nemaura Medical undertakes no obligation to publicly update or revise any forward-looking statements.
Nemaura Medical Inc.
Chief Business Officer
The Ruth Group