Nemaura Medical, Inc. (NMRD), is a medical technology company developing non-invasive and minimally invasive wearable diagnostic devices, coupled with artificial intelligence capabilities, for digital healthcare.
The company’s first product, which is CE approved and undergoing commercial launch, is the sugarBEAT® non-invasive continuous glucose monitoring (CGM) device and BEAT®diabetes digital healthcare platform. sugarBEAT® is a non-invasive and flexible continuous glucose monitor (CGM) providing actionable insights derived from real time glucose measurements and daily glucose trend data. These insights help people with Type 1 or Type 2 diabetes to better manage and reverse their condition and can help those people with prediabetes to prevent the onset of diabetes.
BEAT®diabetes is a health subscription service providing 1-on-1 lifestyle coaching and behavior change recommendations driven by personalized data provided by sugarBEAT®. Insulin users can also adjunctively use sugarBEAT® for determining the proper insulin dosing when it is calibrated by a finger stick reading.
sugarBEAT® is intended to be worn during waking hours and consists of a daily disposable adhesive skin-patch connected to a rechargeable transmitter and an app displaying glucose readings at five-minute intervals.
The global TAM for CGM is estimated at $82Bn per annum, consisting of (i) $12.7Bn for Type 1 insulin users (5% of diabetes), (ii) $38.0Bn for Type 2 insulin users (15% of diabetes) and (iii) $31.4Bn for Type 2 non-insulin users (80% of diabetes).1 These numbers exclude the prediabetes population, which is estimated at nearly three times as large as the diabetes population.
CGM currently has low adoption rates amongst insulin users (negligible use amongst non-insulin users) and is growing rapidly. The U.S. is the largest market, with an estimated 2.6% (630,000 users) penetration of diagnosed diabetic market (24.6M) in 2018, representing annual growth of 117% over 2017 (290,000 users).1
Given sugarBEAT® is non-invasive, affordable, and quite accommodating to a user’s daily routine, it is expected to have wider appeal to non-insulin using patients with diabetes, those with prediabetes, and a segment of insulin users who dislike competing CGMs owing to their invasiveness, cost, and inflexibility.
1 PiperJaffray Company Note DXCM Sep 5, 2018
Nemaura Medical Inc. was spun out from its founding company and listed on the OTC in Q4 2013, and subsequently uplisted to Nasdaq in Q1 2018
sugarBEAT® completed a number of clinical programs to support CE approval and FDA submission
sugarBEAT® published three interim clinical data sets in Q3 2018. Please click here to viewView the data
sugarBEAT® wearable, non-invasive, continuous glucose monitoring system received CE approval in May 2019, and first phase of commercial launch (involving provision of free devices to users) commenced in Q4 2019, and will be available soon for direct purchase online via Nemaura’s UK distributors
sugarBEAT® application for registration in Germany currently in progress (as of Q1 2020)
Licensee agreement with Dallas Burston Ethitronix Limited (DBE) to market sugarBEAT® throughout United Kingdom and Ireland
sugarBEAT® and BEAT®diabetes seek to achieve three primary goals: