Loughborough, England – September 1, 2021 (GlobeNewswire) – Nemaura Medical, Inc. (NASDAQ: NMRD), a medical technology company focused on developing and commercializing non-invasive wearable diagnostic devices and supporting personalized lifestyle coaching programs, announces today that Chief Executive Officer Faz Chowdhury, Ph.D. will present at the H.C. Wainwright 23rd Annual Global Investment Conference, which is being held virtually from September 13 – 15, 2021.

Dr. Chowdhury will deliver his corporate presentation, which will become available beginning on September 13 at 7:00 AM ET.

Investors can register here: www.hcwevents.com.

Mr. Chowdhury will also be available for one-on-one meetings throughout the conference.

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® 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 has been launched in the U.S. as a general wellness product as part of its BEAT®diabetes program.

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, please visit www.NemauraMedical.com.

Contact:

Jules Abraham
CORE IR
917-885-7378
julesa@coreir.com

Loughborough, England – August 16, 2021 (GlobeNewswire) – 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 provides a business update and releases its financial results for the first fiscal quarter, ended June 30, 2021, of fiscal 2022.

Recent Corporate Highlights:

  • Launched a digital healthcare subscription service in the U.S. under the brand name BEAT®diabetes, targeted at over 25 million people with Type 2 diabetes and 88 million people with pre-diabetes in the U.S.
  • Received positive feedback from the first users of sugarBEAT® as part of the soft launch in the UK, leading to purchase order for 200,000 sensors and a rolling purchase order forecast for 2 million sensors over the next 2 years.
  • In discussions with several third parties regarding regional and global partnerships for sugarBEAT® and the BEAT®diabetes program.
  • Repurposed sugarBEAT® as a Continuous Temperature Monitor (CTM), and a technical file has since been prepared in readiness for submission and approvals in the U.S. and EU.
  • Developed a metabolic health digital ecosystem combined with glucose monitoring targeting the obesity and pre-diabetes markets, with launch planned by the end of 2021 calendar year.

“Following positive results from a soft launch, we believe we are on the cusp of commercializing sugarBEAT® in the UK and recognizing revenue from our licensee.  Additionally, we expect to launch sugarBEAT® in other EU countries, as well as in the Middle East, through regional partnerships. Diabetes is a worldwide health crisis, and our non-invasive, needle-free CGM is an innovative solution for patients with both Type 1 and Type 2 diabetes, as well as those with pre-diabetes,” commented Dr. Faz Chowdhury, CEO of Nemaura Medical. “In the U.S., our on-going and planned pilot programs with BEAT®diabetes continue to progress favourably.  We are eager to address the worldwide diabetes crisis and commercialize our proprietary solutions in meaningful volumes, and wish for healthier lives for all struggling with diabetes.  As we progress with our corporate, clinical, and regulatory milestones, we will provide future investor updates.”

 

Financial summary:

  • Total operating expenses were approximately $1.6 million. The rise in general and administrative expenses was driven predominantly by higher wages due to increased headcount.  Third party consultancy and contractors employed to support the operational scale up of the business across both the UK and U.S. also increased as we continue our progression towards product commercialization.
  • Cash and cash equivalents at June 30, 2021 were $31.3 million, as compared to $31.9 million at March 31, 2021. Proceeds were received from the exercise of 366,892 warrants during the quarter ended June 30, 2021, amounting to $3 million.
  • The Company submitted its initial “deposit invoice” in the amount of $513,000 to its UK licensee as partial payment of the order received for 200,000 sensors and associated devices. This will be converted into revenue once the Company begins delivery of the final product to its licensee, which is expected to begin in the quarter ending September 30, 2021.

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® 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 has been launched in the U.S. as a general wellness product as part of its BEAT®diabetes program.

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, 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 U.S., risks related to regulatory status and 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 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 U.S. Food and Drug Administration (the “FDA”) reserves the right to re-evaluate its 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 Medical’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 Medical undertakes no obligation to publicly update or revise any forward-looking statements.


Contact:

Jules Abraham
CORE IR
917-885-7378
julesa@coreir.com

Loughborough, England – July 12, 2021 (GlobeNewswire) – Nemaura Medical, Inc. (Nasdaq: NMRD), a medical technology company focused on developing and commercializing non-invasive wearable diagnostic devices and supporting personalized lifestyle coaching programs, today announced that Chief Executive Officer Faz Chowdhury, Ph.D. will present a corporate overview at the Access to Giving Virtual Investor Conference being held July 13 – 15, 2021.

Dr. Chowdhury will deliver his corporate presentation on July 13 at 1:00pm ET.

To receive additional information, request an invitation or to schedule a one-on-one meeting, please email angie.goertz@issuerdirect.com.

Investors can register here.

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® 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 has been launched in the U.S. as a general wellness product as part of its BEAT®diabetes program.

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, please visit www.NemauraMedical.com.

Contact:

Jules Abraham
CORE IR
917-885-7378
julesa@coreir.com

Loughborough, England – June 30, 2021 (GlobeNewswire) – 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 a presentation referring to its licensed Why WAIT® program at the American Diabetes Association’s 81st Annual Scientific Sessions.

The Why WAIT program is an award-winning 12-week program to help patients manage their weight and diabetes conditions. The Why WAIT® program was developed by the Joslin Diabetes Center in Boston, MA and demonstrated long-term success. Healthimation Inc. currently has the exclusive license to develop a mobile version of Why WAIT® program. Nemaura Medical Inc. licensed the Why WAIT mobile application from Healthimation to be included in its BEAT® diabetes program. The Why WAIT® mobile application and telehealth were used in the virtual Why WAIT® program, which was compared in the study to the in-person Why WAIT®.

The study presented on June 28th showed no difference in clinical outcomes between virtual Why WAIT® and in-person Why WAIT® programs, where both resulted in equal weight loss of ~7% and similar reduction in A1C of ~1%.

Highlights from the presentation included:

  • The potentiality for group intervention through telemedicine or mobile health applications as a result of recent advances in digital health
  • Advantages of utilizing digital health applications for participants to maintain accurate records of their dietary, exercise and behavioural interventions, as well as inclusion of coaching modules that allow tracking of personal progress
  • Virtual multidisciplinary intensive lifestyle intervention programs using telemedicine and m-health are as effective as costly, in-person physical programming to improve body weight, A1C, blood pressure, lipid profiles and in reducing the number of hyperglycemic medications
  • The virtual Why WAIT® program can be scalable to overweight and obese people with diabetes, regardless of their locations and may be as successful as in-person programs

“Our BEAT® diabetes program, which combines our non-invasive glucose monitors with mobile Why WAIT® program from Healthimation, is an important advance in our understanding of effective diabetes management and prevention, and this presentation at the American Diabetes Association’s Scientific Sessions outlines the keys to their success,” said Nemaura CEO Dr. Faz Chowdhury. “This validation is an important step towards validating our combined program, as we embark on a scalable growth plan. We look forward to continuing to provide updates on our progress.”

Nemaura has combined the mobile Why WAIT® progam with the company’s proBEAT™ non-invasive patch CGM (continuous glucose monitor) for enhanced behavioral change experience, to form its proprietary BEATdiabetes program. Developed at a major diabetes center in the U.S. over more than 15 years, the digital program curriculum implements the most advanced approach to nutrition, exercise, and behavioral change and has been clinically tested and has demonstrated many benefits to a patient’s overall health, including weight reduction, significant improvements in A1C, lipid profile, and blood pressure, and a reduction in medications taken.

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® 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 has been launched in the U.S. as a general wellness product as part of its BEAT®diabetes program.

The Company believes that it 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, 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.

Contact:

Jules Abraham
CORE IR
917-885-7378
julesa@coreir.com

Loughborough, England, June 30, 2021 – Nemaura Medical Inc. (NASDAQ: NMRD) (“Nemaura”), a medical technology company commercializing sugarBEAT®, a non-invasive and flexible continuous glucose monitor (CGM), together with BEAT™diabetes, a health subscription service designed to help people with diabetes and prediabetes to better manage their condition through personalized lifestyle coaching, today provided a business update and released financial results for the fiscal year ended March 31, 2021.

Key Highlights:

  • Received positive feedback from the first users of sugarBEAT® as part of the soft launch in the UK, leading to purchase order for 200,000 sensors and a rolling purchase order forecast for 2 million sensors over the next 2 years.
  • Launch a digital healthcare subscription service in the U.S. under the brand name BEATdiabetes.life, targeted at over 25 million people with Type 2 diabetes and 88 million people with pre-diabetes in the U.S.
  • In discussions with several third parties regarding regional and global partnerships for sugarBEAT®.
  • Repurpose sugarBEAT® as a Continuous Temperature Monitor (CTM), and a technical file has since been prepared in readiness for submission and approvals in the USA and EU.
  • Secured a total of $25 million in non-dilutive funding, in the form of non-convertible loans to accelerate commercial roll out
  • Announced stockholder approval of the Nemaura Medical Inc. 2020 Omnibus Incentive Plan, designed to recruit and retain top talent across the company.

Dr. Chowdhury, CEO of Nemaura Medical, commented, “This is a very exciting period for Nemaura Medical as we have steadily transitioned toward commercialization of our lead product, sugarBEAT®, initially in the UK and our BEATdiabetes program in the USA. As the world’s first non-invasive, needle-free CGM, sugarBEAT® is uniquely positioned to target the underserved $80 billion market for people with both Type 1 and Type 2 diabetes, as well as prediabetes and the consumer metabolic health space. We remain highly encouraged by the outlook for the business and look forward to providing further updates as we execute on our commercial strategy.”

Financial summary:

  • Research and development expenses decreased to $1,554,603 for the year ended March 31, 2021, compared to $2,009,323 for the preceding fiscal year. The decrease was driven by the change in type of work needed to prepare the product for launch as the Company draws closer to commercialization. The Company expects these sugarBEAT® related research and development expenses to reduce in future periods as the product is launched, however the Company also expects to continue to incur research and development costs to both enhance, refine and extend the platform capabilities for alternative applications.
  • General and administrative expenses increased slightly to $3,032,138 from $2,769,161 for the years ended March 31, 2021, and 2020, respectively. These costs consisted of fees for legal, professional, consultancy, audit services, investor relations, insurance, and wages. The Company expects general and administrative expenses will increase moving forward as the business transitions to a different cost structure over time to support an increase in operational functions associated with sales, marketing, customer service, as well as enhancements to other existing functions that support product manufacture and commercialization.
  • The company’s net loss was $6,258,596 for the 2021 fiscal year, compared to $4,160,196 for the 2020 fiscal year. The increase being driven by the interest charge booked during the current year of $2,007,687 in relation to the debt funding taken out during fiscal 2021 to facilitate / accelerate the Company’s growth plans and move to become revenue generating during fiscal year 2022.
  • As of March 31, 2021, cash on hand stood at $31,865,371, compared to $106,107 as of March 31, 2020. The increase in cash having been driven by a combination of debt and equity fundraises completed during the fiscal year in order to provide ongoing support and investments made by the Company to drive through to initial product commercialization in the UK of sugarBEAT®.
  • As of June 29, 2021, the Company had approximately $31.3m of cash availability at the bank.

About Nemaura Medical Inc.:

Nemaura Medical Inc. (NMRD) is a medical technology company developing micro-systems-based wearable diagnostic devices and currently commercializing sugarBEAT®, and proBEAT™. sugarBEAT®, a CE mark approved Class IIb medical device, is a non-invasive and flexible 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 is planning to submit a PMA application for sugarBEAT® during the second quarter of 2020 for FDA review of this device under medical device regulations. proBEAT™ comprises a non-invasive glucose monitor and a digital healthcare subscription service and is due to be launched in the US as a general wellness product.

For more information visit: 

www.NemauraMedical.com

www.sugarBEAT.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 U.S., risks related to regulatory status and 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 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 U.S. Food and Drug Administration (the “FDA”) reserves the right to re-evaluate its 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 Medical’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 Medical undertakes no obligation to publicly update or revise any forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200623005539/en/

Contact:

Jules Abraham
CORE IR
917-885-7378
julesa@coreir.com

 

Loughborough, England – June 1, 2021 (GlobeNewswire) – Nemaura Medical, Inc. (NASDAQ: NMRD), a medical technology company focused on developing and commercializing non-invasive wearable diagnostic devices and supporting personalized lifestyle coaching programs, today announced that Chief Executive Officer Faz Chowdhury, Ph.D. will present a corporate overview at the three-day LD Micro Virtual Invitational Conference being held on June 8 – 10, 2021.

Dr. Chowdhury will deliver his corporate presentation on June 9 at 1:00pm ET, Track 3.

Investors can register to watch the presentation here.

Investors interested in scheduling a meeting with management should contact assistant@ldmicro.com.

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® 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 has been launched in the U.S. as a general wellness product as part of its BEAT®diabetes program.

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, please visit www.NemauraMedical.com.

Contact:

Jules Abraham
CORE IR
917-885-7378
julesa@coreir.com

Loughborough, England – May 26, 2021 (GlobeNewswire) – Nemaura Medical, Inc. (NASDAQ: NMRD), a medical technology company focused on developing and commercializing non-invasive wearable diagnostic devices and supporting personalized lifestyle coaching programs, today announced that management has been invited to present at the Summer Solstice – Best Ideas from the Buy Side Conference, which is being held virtually on June 1 – June 4, 2021.

 

Chief Executive Officer Faz Chowdhury, Ph.D. will deliver his corporate presentation on June 2, 2021 at 4:00pm ET.

The presentation will be webcast live and available for replay at https://www.webcaster4.com/Webcast/Page/2134/41524

To receive additional information, request an invitation or to schedule a one-on-one meeting, please email angie.goertz@issuerdirect.com.

Investors can register here.

 

About the MicroCap Rodeo Summer Solstice Best Ideas Conference

The MicroCap Rodeo is back with its third “Best Ideas Bowl.” This conference is a virtual conference that brings you the top 35 best ideas from the buy side. Qualified institutional investors recommended each of the 35 companies represented as one of their best ideas. Those of you who attended the 2019 MicroCap Rodeo in Austin, Texas, know that we’re focused on alpha.

 

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® 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 has been launched in the U.S. as a general wellness product as part of its BEAT®diabetes program.

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, please visit www.NemauraMedical.com.


Contact:

Jules Abraham
CORE IR
917-885-7378
julesa@coreir.com

Loughborough, England – May 6, 2021 (GlobeNewswire) – 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 announced progress with the German regulatory authority (GBA) to achieve reimbursement for its sugarBEAT® device.

After initial review, the GBA has determined that sugarBEAT does not require GBA review and will go directly to the National Association of Statutory Health Insurance Funds (GKV-Spitzenverband) for a listing on the durable medical catalog.  The Company is now completing the application for this listing, which is expected to be faster than where a GBA review is required.

“The availability of SugarBEAT® in Germany would be an important milestone for Nemaura and we are actively collaborating with the appropriate agencies to ensure timely availability there,” said Nemaura CEO Dr. Faz Chowdhury.  “In the meantime, we are actively negotiating to identify the right partner to market and distribute the product and our program in this very important market.  We will continue to provide updates as appropriate on our progress.”

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® 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 has been launched in the U.S. as a general wellness product as part of its BEAT®diabetes program.

The Company believes that it 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, 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.

Contact:

Jules Abraham
CORE IR
917-885-7378
julesa@coreir.com

Based on the success of the soft launch in the U.K., the Company is advancing discussions for joint launches in Germany, Saudi Arabia and UAE

Loughborough, England – May 5, 2021 (GlobeNewswire) – 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 announced receipt of a purchase order for 5,000 sugarBEAT® transmitters and 200,000 sugarBEAT® sensors from its U.K. licensee, DB Ethitronix Ltd, with an additional rolling monthly purchase order forecast  for the next 24 months of 15,000 transmitters and 2.1 million sensors, with an option to increase volumes based on customer response.

This order follows positive feedback from DB Ethitronix’s soft launch of the sugarBEAT® non-invasive glucose monitoring (CGM) device in the U.K.  DB Ethitronix has established a subscription service for diabetes management supported by the sugarBEAT® technology.  User feedback has been extremely positive due to the fact that sugarBEAT® is the only daily-wear glucose monitoring device in the world that gives users the flexibility to monitor their glucose levels according to their own schedule, resulting in lowered costs to the end user. Based on the success of the soft launch in the U.K., the Company is advancing discussions for joint launches in Germany, Saudi Arabia and UAE.

“SugarBEAT® along with the adaptions provided by proBEAT® and the resulting BEAT® diabetes program, are a culmination of 10 years of research, development and human trials.  We believe our technology is ground-breaking and represents a paradigm shift in the way persons with diabetes can manage their condition.  We believe we have a critical first mover advantage with a product that is easier to use, more flexible and more cost-effective than existing technologies.  We are not aware of any product of a similar nature in clinical studies or that has been submitted for regulatory approval,” said Nemaura CEO Dr. Faz Chowdhury.  “As a result, we are very optimistic about our ability to drive sales and increase market share in Europe and ultimately the U.S. and elsewhere.  We believe our device has the potential to significantly change the way people prevent, manage, and even possibly reverse Type 2 diabetes.”

He also added, “As we have previously iterated, it has always been Nemaura’s strategic objective to prove our technology before embarking on a scalable growth plan.  This strategy has proved effective in allowing us to optimize cost management while focusing on building a high quality commercially viable product. We have now reached a key inflection point and are preparing for a major pivot to accelerate the commercialization of the sugarBEAT® platform.”

“We have been able to bring together an easy-to-use digital patient care App, powered by a unique needle-free device for monitoring glucose fluctuations, MySugarWatch®, at a time when there is increased awareness of the risks associated with Type 2 diabetes and diabetes-related COVID-19 risks,” said Dr. Dallas Burston, CEO of DB Ethitronix Ltd., the exclusive licensee for the sugarBEAT® technology platform in the U.K.

In preparation for the worldwide commercialization of SugarBEAT® the Company expects to:

  • Commence delivery of the sugarBEAT® transmitters and sensors to our U.K. licensee
  • Establish distribution channels in additional European territories, the U.S., and the Middle East
  • Enhance production capabilities through key partnerships
  • Focus on building a world-class sales and marketing team and strategy

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® 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 has been launched in the U.S. as a general wellness product as part of its BEAT®diabetes program.

The Company believes that it 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, 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.

Contact:

Jules Abraham
CORE IR
917-885-7378
julesa@coreir.com

Loughborough, England – April 29, 2021 (GlobeNewswire) – 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 issues a Letter To Shareholders from CEO Dr. Faz Chowdhury summarizing its Shareholder Update call held yesterday, April 28, 2021.  This letter is to help clarify the content from the call, in which there may have been intermittent audio issues.

A replay of the webcast of the call can be accessed via  https://services.choruscall.com/mediaframe/webcast.html?webcastid=csR36vjo.

A telephonic replay of the call will be available through May 6, 2021 and may be accessed by calling 1-877-344-7529 (U.S. domestic) or 1-412-317-0088 (international) and using access code 10154964.

To our Valued Shareholders:

Below please find the content of our Shareholder Update Conference Call held April 28, 2021 at 4:30PM ET.  We provide this content to provide clarity for those who may have experienced intermittent audio issues.

Following our December launch of our BEATdiabetes program via our BEATdiabetes website, Nemaura has been in a constant state of corporate growth, preparing for new product launches, shoring up our management and staff and preparing the way both for our recently announced product launch in Europe as well as for the full product launch in the United States.

As we are on the precipice of multiple game-changing milestones, I thought that this call would provide us an opportunity to take a closer look at all we’ve accomplished in the last nearly six months and discuss the path forward.

I’d like to begin with our December launch in the US of the BEATdiabetes program via the BEATdiabetes website and smartphone app.  Keep in mind the BEATdiabetes program is a clinically validated program that uses proven methodologies to help people better manage their health habits including diet, exercise and other lifestyle elements that either increase the risk of or exacerbate Type 2 diabetes.  The use of our program, which includes an AI-based interface that interacts personally with users, has been shown to help them better manage weight and other risk factors to either improve or prevent or even reverse Type 2 diabetes.

Following our December launch, we’ve already commenced a pilot program which will comprise approximately 200 users in the US, and we expect multiple additional pilots with various parties over the course of the year.

In the UK our licensee reports that its soft launch has led to plans to hire 10 full-time registered general nurses to help facilitate the one-on-one counseling aspect of the program, which occurs when users pair the sugarBEAT sensor with the app, providing real-time data. We are already hearing anecdotal reports of significant improvements of those that have been using the sugarBEAT sensor.

As we begin to proliferate the program in the US and via our licensee in the UK, the need to increase our production of sugarBEAT sensors and devices has increased, and we have begun to ramp up production to meet what we believe will be a significantly increased demand in the coming months.

Importantly, as a result of these successful outcomes both in the UK and the U.S., I’m very happy and proud to report that we now expect to recognize revenue in relation to this in Qtr 2 of the current financial year.  This will mark a significant milestone for us as a business as we become revenue generating.

The initial success of these programs has led us to look at the strategic growth of the business.  First, as we are preparing to reach a global audience, we are facing the need to expand our management team and we have welcomed a number of top talent to join our management team.  These include Thomas Mortensen, our Head of EU Commercial Operations and Marketing, who comes from Roche after multiple years at other key medical device manufacturers; Jay Warner who heads our U.S. Marketing Operations after many years associated with Eli Lilly & Co.; Alistair Longmuir, our Global Head of Product Development and Manufacturing Strategy, with the pedigree of years at J&J and Lifescan; as well as Samantha Sanders, who designed and developed digital programs for AbbVie.

From here we expect to continue to make hires to round out our management team while also focusing on building up our Quality team to ensure that all of our products meet our own exacting standards as we embark on the previously mentioned production ramp up.

With all of the activity I’ve already mentioned, I think it worthwhile to remind you that we have achieved a great deal in a short amount of time while maintaining very strong fiscal control over costs and closely managing our balance sheet and cash position.  Whilst we have engaged in fundraising over the last year, the bulk of it has been non-dilutive and this has resulted with us holding cash on balance sheet for the financial year ended March 31st, 2021 of approximately $31.8m, obviously this is still subject to audit. The strong focus on cost and cash management will continue to be a focus for the business, and our recent cash burn rate has been less than $2m per quarter though we expect this to increase slightly as we ramp up operations.

It is worth mentioning that during the height of the COVID-19 pandemic we observed an extremely favorable market environment that has since slowed.  Whilst many other companies are experiencing new challenges, Nemaura has not participated in any dilutive funding, preserving shareholder value.

Our strong cash position also allowed us to continue to develop our product offerings to go beyond the diabetes space and into related areas, including metabolic health, with some strategic adjustments to our current technology.  We have already made considerable progress in developing our technology for this application, and we anticipate providing updates to our shareholders on this progress soon.

Finally, prior to addressing some of our frequently asked questions, I’d like to report that all of our efforts have not gone unnoticed.  In a recent issue of UK-based publication, Business Leader, Nemaura was named among the 32 top health tech innovators in the UK, out of over 4,000 companies.  We are honored to be named among these truly remarkable companies, and will continue to strive to provide cutting edge, non-invasive technologies to improve and save lives.

We are very proud to have made such significant progress and are looking forward to continuing to provide updates on future milestones, both in product development, distribution and meeting our financial goals, all in the service of providing optimal shareholder value.  In the meantime, I thank you for your continued support.

Sincerely,
Dr. Faz Chowdhury
CEO


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® 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 has been launched in the U.S. as a general wellness product as part of its BEAT®diabetes program.

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, 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.

Contact:

Jules Abraham
CORE IR
917-885-7378
julesa@coreir.com

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