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LOUGHBOROUGH, England–(BUSINESS WIRE)–Nemaura Medical Inc. (“Nemaura”) (OTCQB: NMRD), a medical technology company developing the wireless sugarBEAT® disposable adhesive skin-patch as a non-invasive, affordable and flexible glucose monitoring system for adjunctive use by persons with diabetes, today announced the completion of its sugarBEAT® European clinical trial programme and positive interim accuracy data.
The European clinical trial programme consisted of a total of 525 patient days, comprising 75 patients continuously wearing sugarBEAT® for up to 14 hours per day over 7 consecutive days in a combination of home and clinic settings. Interim results based on all 525 patient days have detected no instances of skin irritation or major adverse events resulting from the device. Interim accuracy results, taken from a cohort of 175 patient days, have indicated MARD as low as 10% over a large dynamic range, with average MARD comparable to accuracy previously achieved by the wired wrist-worn predecessor SugarBEAT® device, which received a CE mark in 2016.
A summary of the full clinical report is due to be published next month alongside CE submission.
SugarBEAT® consists of a disposable skin-patch connected to a rechargeable transmitter, with a mobile app displaying glucose readings at regular five minute intervals.
Further clinical studies are planned including those for FDA approval in the US, and to investigate the use of sugarBEAT® in critical care settings.
About Nemaura Medical, Inc.
Nemaura Medical 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 disposable skin-patch connected to a rechargeable transmitter, with a mobile app displaying glucose readings at regular five minute intervals. For more information, please visit www.nemauramedical.com and www.sugarbeat.com.
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® product, 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.
Contacts
Nemaura Medical
Bashir Timol
Director of Strategy & Corporate Development
bashir.timol@nemauramedical.com
LOUGHBOROUGH, England–(BUSINESS WIRE)–Nemaura Medical Inc. (OTCQB: NMRD), a medical technology company focused on the development and commercialization of sugarBEAT®, a wireless adhesive skin-patch for adjunctive use by diabetics as a non-invasive and needle-free glucose monitoring system, today announced sugarBEAT® interim precision data results as part of its ongoing European clinical trial programme.
The precision study consisted of 16 Type I and Type II diabetic patients each wearing two sugarBEAT® skin-patches simultaneously over 3 days for up to 14 hours per day. This equated to a total of 48 patient days yielding over 13,000 glucose measurements. The results indicated that over 80% of all data between the skin-patches at each time point were within 8% of each other, with an average precision of 1.07.
The precision studies were designed to demonstrate the ability to track glucose concentrations within the same profile, when more than one sugarBEAT® skin-patch is applied to the skin. The ability of two or more sugarBEAT® skin-patches to provide closely matching data provides concrete validation of the system. CEO, Dr Faz Chowdhury commented, “the precision study for sugarBEAT® has exceeded our expectations, and is a significant milestone towards commercial launch.”
SugarBEAT® consists of a disposable skin-patch connected to a rechargeable transmitter, with a mobile app displaying glucose readings at regular five minute intervals. Unlike the Dexcom or Abbott Libre devices, sugarBEAT® is non-invasive and does not require the insertion of a needle-like sensor into the skin.
The current European clinical trial programme is expected to be completed later this month, with sugarBEAT® anticipated to launch in the UK in early 2018. Additional clinical studies are planned for sugarBEAT® FDA approval in the US, and for use of sugarBEAT® in critical care settings.
About Nemaura Medical, Inc.
Nemaura Medical Inc. (OTCQB: 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 disposable adhesive skin-patch connected to a rechargeable transmitter, with an app displaying glucose readings. For more information, please visit www.NemauraMedical.com and www.SugarBEAT.com.
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.
Contacts
Nemaura Medical
Bashir Timol
Director of Strategy & Corporate Development
bashir.timol@nemauramedical.com
LOUGHBOROUGH, England–(BUSINESS WIRE)–Nemaura Medical Inc. (OTCQB: NMRD), a medical technology company developing sugarBEAT® as a non-invasive, affordable and flexible glucose monitoring system for adjunctive use by persons with diabetes, recently reported financial results for the second quarter ended September 30, 2017.
Recent Highlights and Accomplishments:
Dr Faz Chowdhury, Chairman and CEO of Nemaura commented ”the sharp increase in G&A expenditure has been driven by ongoing European clinical trials for sugarBEAT®, and scaling-up manufacturing activities to support our UK commercial launch. We anticipate publishing clinical trial data and submitting for CE approval by the end of next month.”
Second Quarter 2017/18 results:
Research and development expenses were $209,087 and $220,714 for the three months ended September 30, 2017 and 2016, respectively. This amount consisted primarily of expenditure on sub-contractor activities, consultancy fees and wages and demonstrated continuing expenditure for improvements made to the sugarBEAT device. The decrease of $11,627 is due to decreases in these costs as the sugarBEAT product is nearing completion. Sequentially, there was an increase of $59,889 compared to the first quarter of the fiscal year.
General and administrative expenses were $238,429 and $101,768 for the three months ended September 30, 2017 and 2016, respectively. These consisted of fees for legal, professional, audit services, charitable donations and wages. The increase of $136,661 was due to increases in professional fees as sugarBEAT® enters clinical trials and as the company prepares for product launch. On a sequential basis, general and administrative expenses were lower than in the first quarter by $29,693.
At September 30, 2017, the Company’s combined cash and bank fixed deposits was $6,683,518.
The Company’s comprehensive loss was $233,722 for the three months ended September 30, 2017, an increase of $51,552 for the same quarter in 2016.
About Nemaura Medical Inc.
Nemaura Medical Inc. (OTCQB: 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 disposable adhesive skin-patch connected to a rechargeable transmitter, with an app displaying glucose readings. For more information, please visit www.NemauraMedical.com and www.SugarBEAT.com.
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.
Contacts
Nemaura Medical Inc.
Bashir Timol
Director of Strategy & Corporate Development
bashir.timol@nemauramedical.com
WallStreet Research™ (WSR), a top-ranked independent research firm with a history spanning over three decades, today announced that it has initiated Corporate Profile coverage on Nemaura Medical, Inc. (OTCQB: NMRD) (the “Company”). WallStreet Research™ is ranked Number One on the Google, Yahoo, and Bing search engines for both small and micro-cap research with a global following. A Corporate Profile Report, together with additional information about WallStreet Research™, is available at the www.WallStreetResearch.org website. The WSR Corporate Profile highlights the Company’s recent accomplishments and growth plans for 2017 and beyond.
Nemaura Medical Inc. (OTCQB:NMRD) is a medical technology company based in Loughborough Science Park in the United Kingdom (incorporated in Nevada) developing sugarBEAT® as a patent protected non-invasive, affordable and flexible glucose monitoring system. European clinical trials for sugarBEAT® are expected to be completed by end of November 2017, with product launch anticipated shortly afterwards in the United Kingdom.
SugarBEAT® consists of a disposable adhesive skin-patch connected to a rechargeable transmitter, with an app displaying glucose readings, and is expected to empower both type I and type II diabetics to better manage glucose levels, thereby helping prevent or delay long term medical complications.
The Company’s underlying BEAT technology platform has the potential to transform health monitoring by providing non-invasive feedback on analytes including amino acid, oxygen, lactate and a range of prescription medicines.
Mr. Alan Stone, Managing Director of WallStreet Research™ commented, “The European Diabetes device market consists of approximately 31 million people living with diabetes, and this market is expected to grow significantly in the coming decade. We believe that Nemaura Medical is well positioned to soon penetrate this market with a well designed alternative new technology.”
On August 9, 2017, the Company reported First Quarter 2017 financial results for the period ending June 30. Research and Development expenses fell to $149,198 for the quarter ended June 2017, a decrease of 51% from $306,081 for the same quarter in 2016. This decrease of $156,883 is due to sugarBEAT® product development nearing completion. General and Administrative expenses increased to $268,122 for the quarter ended June 2017, compared to $188,102 for same quarter in 2016. The Company’s Comprehensive Loss fell to $205,032 for the three months ended June 30, 2017, a decrease of 80% from $1,024,198 for the same quarter in 2016. As of June 30, 2017, the Company’s combined cash and bank deposits (short and long- term) were $7,111,493.
Information on WallStreet Research™ can be found at www.WallStreetResearch.org.
About Nemaura Medical Inc.
Nemaura Medical Inc. (OTCQB: NMRD), is a medical technology company developing sugarBEAT® as a non-invasive, affordable and flexible glucose monitoring system for adjunctive use by diabetics. SugarBEAT® consists of a disposable adhesive skin-patch connected to a rechargeable transmitter, with an app displaying glucose readings. For more information, please visit www.NemauraMedical.com and www.SugarBEAT.com.
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® CGM 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.
About WallStreet Research™
WallStreet Research™ (“WSR”) is a prominent research boutique led by Mr. Alan Stone, Managing Director of Alan Stone & Company, LLC (ASC). The firm specializes in the micro-cap and small cap investment arena, looking for emerging growth companies with strong management, unique or proprietary technology, significant market potential, financial strength, and outstanding long-term earnings growth possibilities. The firm has offices in Los Angeles, CA; Palm Beach, FL; and New York City, NY, and is well known for discovering undervalued companies and bringing them to the attention of the investment community. ASC/WSR also arranges road shows for its publicly traded clients, before the investment community in New York City, California, Nevada, and Florida.
www.WallStreetResearch.org
www.SouthFloridaInvestmentForum.com
www.SouthernCaliforniaInvestmentForum.com
www.SmallCapConference.org
Wall Street Research Disclaimer
The information presented in the corporate file by WSR is not to be construed as an offer to sell, nor a solicitation of an offer to purchase, any securities of NMRD. The corporate profile by Wall Street Research is not a research report, but a compilation of publicly available information, which has been furnished by NMRD or gathered from other sources, in each case without independent verification, and no representations are made as to the accuracy or validity thereof. The information may include certain forward-looking statements within the meaning of Section 21E of the Securities Exchange Commission Act of 1934, which may be affected by unforeseen circumstances or certain risks. Any investment in securities contains inherent risks and should only be done after consulting an investment professional. NMRD paid a fee of $7500 in cash to Alan Stone & Company LLC for preparation and distribution of the corporate profile. For complete disclaimer information, readers are hereby referred to the Disclaimer Page at the www.WallStreetResearch.org website.
Contacts
WallStreet Research™
Alan Stone, Managing Director, 310-444-3940
astone@alanstone.com
or
Barbara Blake, 415-419-4239
bjblake1229@att.net
or
Nemaura Medical Inc.
Bashir Timol, Director of Strategy & Corporate Development
Bashir.Timol@nemauramedical.com
Tel: +44 1509 222 912
Nemaura Medical Inc. (OTCQB: NMRD), a medical technology company focused on the development and commercialization of sugarBEAT®, a wireless adhesive skin-patch for adjunctive use by diabetics as a non-invasive and needle-free glucose monitoring system today announced interim clinical trial results for the sugarBEAT® European clinical trial programme.
This clinical trial programme consists of a total of 525 patient days, comprising 75 patients continuously wearing sugarBEAT® for up to 14 hours per day over 7 consecutive days in a combination of home and clinic settings. The trials are expected to determine safety, accuracy, precision and utility of sugarBEAT® as an adjunct to finger stick testing, and is expected to be completed over the next ten weeks.
Interim results based on 175 patient days completed thus far have detected no skin irritation or serious adverse events. Minor adverse events were reported in the form of skin-patch de-lamination due to high humidity weather conditions, and were addressed by using an over-strip of adhesive or use of elastic arm band. Nemaura anticipates launching sugarBEAT® in the UK shortly after completion of this clinical trial programme.
The data generated thus far has indicated accuracy that is comparable to, and non-inferior to that previously achieved by the wired wrist worn predecessor SugarBEAT® device, which received a CE mark in 2016.
SugarBEAT® consists of a disposable skin-patch connected to a rechargeable transmitter, with a mobile app displaying glucose readings at regular five minute intervals.
Further clinical studies are planned including those for FDA approval in the US, and to investigate the use of sugarBEAT® in critical care settings.
About Nemaura Medical, Inc.
Nemaura Medical is a medical technology company developing the wireless sugarBEAT® disposable adhesive skin-patch as a non-invasive, needle-free, pain-free and affordable glucose monitoring system for adjunctive use by diabetics. 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, 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® CGM 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.
Contacts
Nemaura Medical
Bashir Timol
Director of Strategy & Corporate Development
bashir.timol@nemauramedical.com
Nemaura Medical Inc. (OTCQB: NMRD), a medical technology company focused on the development and commercialization of sugarBEAT®, a wireless adhesive skin-patch for adjunctive use by diabetics as a non-invasive and needle-free continuous glucose monitoring (CGM) system announced today that it has completed development of a medical grade app prepared and verified in accordance with ISO13485 quality systems and the appropriate medical devices directives, and designed to be used with the sugarBEAT® device or with glucose meters and strips to display glucose levels on users android mobile devices.
The new app has been designed to display glucose trends, and Ambulatory Glucose Profiles (AGP), with users optionally able to input diet, medication and exercise information. Development of the iOS version of the app is also planned.
SugarBEAT® consists of a disposable skin-patch connected to a rechargeable transmitter, and mobile app displaying glucose readings.
A predecessor sugarBEAT® device has previously been granted CE approval. SugarBEAT® is due to complete clinical trials with anticipated launch in the UK later this year.
About Nemaura Medical, Inc.
Nemaura Medical is a medical technology company developing the wireless sugarBEAT® disposable adhesive skin-patch as a non-invasive, needle-free, pain-free and affordable continuous glucose monitoring (CGM) system for adjunctive use by diabetics. 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, 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® CGM 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.
Contacts
Nemaura Medical
Bashir Timol
Director of Strategy & Corporate Development
bashir.timol@nemauramedical.com
Nemaura Medical Inc. (OTCQB: NMRD), a medical technology company focused on the development and commercialization of sugarBEAT®, a wireless disposable adhesive skin-patch for adjunctive use by diabetics as a non-invasive and needle-free continuous glucose monitoring (CGM) system announced today it has signed a non-binding term sheet with Device Technologies for exclusive rights to market and sell sugarBEAT® in Australia and New Zealand.
Device Technologies is a leading Medical Device distributor employing over 600 healthcare specialists and support staff in Australia and New Zealand. Dr Faz Chowdhury CEO of Nemaura Medical comments, “Device Technologies have a strong understanding of complex and novel medical devices and are well positioned to successfully commercialise sugarBEAT® in Australia and New Zealand”.
Nemaura Medical expect to launch in Australia and New Zealand in 2018, following an anticipated initial launch in UK in 2017.
About Nemaura Medical, Inc.
Nemaura Medical is a medical technology company developing the wireless sugarBEAT® disposable adhesive skin-patch as a non-invasive, needle-free, pain-free and affordable continuous glucose monitoring (CGM) system for adjunctive use by diabetics. 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, 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® CGM 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.
Contacts
Nemaura Medical
Bashir Timol
Director of Strategy & Corporate Development
bashir.timol@nemauramedical.com
Nemaura Medical Inc. (OTC: NMRD), a medical technology company focused on the development and commercialization of sugarBEAT®, a wireless disposable adhesive skin-patch for adjunctive use by diabetics as a non-invasive and needle-free continuous glucose monitoring (CGM) system, yesterday reported financial results for the first quarter ended June 30, 2017.
Recent Highlights and Accomplishments:
“As the sugarBEAT® disposable skin patch, rechargeable transmitter and mobile phone app development nears completion, our product development related R&D expenditure have halved and losses narrowed sharply for the first quarter of 2017 as compared to same period last year, thereby maintaining our well capitalised financial position as we progress towards final clinical development and anticipated UK launch later this year,” commented Dr Faz Chowdhury, CEO of Nemaura Medical.
First Quarter 2017 results:
Research and development expenses fell to $149,198 over the quarter ending June 2017, a decrease of 51% from $306,081 for the same quarter in 2016. This decrease of $156,883 is due to sugarBEAT® product development nearing completion.
General and administrative expenses increased to $268,122 for the quarter ending June 2017, compared to $188,102 for same quarter in 2016.
At June 30, 2017, the Company’s combined cash and bank fixed deposits was $7,111,493.
The Company’s comprehensive loss fell to $205,032 for the three months ended June 30, 2017, a decrease of 80% from $1,024,198 for the same quarter in 2016.
About Nemaura Medical, Inc.
Nemaura Medical is a medical technology company developing the wireless sugarBEAT® disposable adhesive skin-patch as a non-invasive, needle-free, pain-free and affordable continuous glucose monitoring (CGM) system for adjunctive use by diabetics. 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, 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® CGM 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.
Contacts
Nemaura Medical
Bashir Timol
Director of Strategy & Corporate Development
bashir.timol@nemauramedical.com
Nemaura Medical Inc. (OTCQB: NMRD), a medical technology company focused on the development and commercialization of sugarBEAT®, a wireless disposable adhesive skin-patch for adjunctive use by diabetics as a non-invasive and needle-free continuous glucose monitoring (CGM) system announced today that it has appointed Thomas Moore to the company’s Board of Directors. Mr. Moore will serve as an independent director of the company, and as member of the board’s Audit, Nominating and Corporate Governance and Compensation Committees.
Dr. Faz Chowdhury, Chairman and CEO of Nemaura commented “Tom’s extensive experience in leadership roles within leading accounting firms brings valuable corporate expertise to our Board as we continue the clinical development of sugarBEAT® in anticipation of a UK launch later this year.
Mr. Moore is currently working as a management consultant, having built up three decades of experience in the accountancy and consultancy fields at leading accountancy firms including Grant Thornton, KPMG and Price Waterhouse. He is a practicing Chartered Tax Adviser and earned his first class Bachelor of Arts in French and Russian from the University of Northumbria, UK.
Mr. Moore commented “Nemaura’s needle-free and easy-to-apply skin-patch technology has tremendous potential to empower everyone, not just diabetics, to improve their health through better management of glucose levels.”
About Nemaura Medical, Inc.
Nemaura Medical is a medical technology company developing the wireless sugarBEAT® disposable adhesive skin-patch as a non-invasive, needle-free, pain-free and affordable continuous glucose monitoring (CGM) system for adjunctive use by diabetics. 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, 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® CGM 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.
Contacts
Nemaura Medical
Bashir Timol
Director of Strategy & Corporate Development
bashir.timol@nemauramedical.com
Nemaura Medical Inc. (OTCQB: NMRD), a medical technology company focused on the development and commercialization of sugarBEAT®, a wireless adhesive skin-patch for adjunctive use by diabetics as a non-invasive and needle-free continuous glucose monitoring (CGM) system announced today that it has developed a slimmer sugarBEAT® transmitter with a built in rechargeable battery. This new format is expected to lower costs for users given it removes the need for disposable batteries.
sugarBEAT® consists of a disposable skin patch connected to a reusable transmitter, with a mobile app displaying glucose readings.
Dr. Faz Chowdhury, Chairman and CEO of Nemaura commented “It is our plan to make sugarBEAT® affordable for all diabetics, including those using test strips and meters to manage their glucose levels.”
A predecessor sugarBEAT® device has previously been granted CE approval. sugarBEAT® is due to commence clinical trials shortly with anticipated launch in the UK later this year.
About Nemaura Medical, Inc.
Nemaura Medical is a medical technology company developing the wireless sugarBEAT® disposable adhesive skin-patch as a non-invasive, needle-free, pain-free and affordable continuous glucose monitoring (CGM) system for adjunctive use by diabetics. 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, 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® CGM 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.
Contacts
Nemaura Medical
Bashir Timol
Director of Strategy & Corporate Development
bashir.timol@nemauramedical.com
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