Nemaura Announces Dr. Fred Schaebsdau to Lead Strategy and Business Development
Dr. Schaebsdau to Advance European Launch of SugarBEAT® Continuous Glucose Monitor
Nemaura Preparing U.S. FDA 510(k) Submission
Loughborough, England – February 11, 2019 – Nemaura Medical, Inc. (NASDAQ: NMRD) nemauramedical.com, a medical technology company focused on the development of SugarBEAT® as a non-invasive, affordable and flexible Continuous Glucose Monitor (CGM) for use by diabetics and pre-diabetics, today announced that Dr. Fred Schaebsdau, MD, PhD, MBA has joined Nemaura to lead strategy and business development. Dr. Schaebsdau will advance Nemaura’s commercial strategy for its planned launch of SugarBEAT® in Europe, and advise regarding its upcoming 510(k) submission to the United States Food and Drug Administration. He will also be named to Nemaura’s Scientific Advisory Board.
Dr. Schaebsdau has over 15 years of executive level experience in the CGM, Blood Glucose Monitoring (BGM) and insulin delivery industries, which started in 2004 during his tenure with Abbott Diabetes Care, where he was a member of the M&A and post-merger integration teams responsible for the acquisition of TheraSense and its FreeStyle Navigator CGM. From September 2016 until January 2019, he was the General Manager of Dexcom Germany, which during his leadership became the fastest growing organization in Dexcom’s history achieving triple digit revenue and new patient growth every year. Two generations of CGM, G5 and G6, were successfully launched and negotiations with public insurers completed, which resulted in full reimbursement for >85% of the German population. From 2009 until August 2015, at Roche Diabetes Care, he was Senior Vice-President, Head of Global Strategy and Business Development, completing several strategic acquisitions, partnerships and licensing deals. In September 2015, he founded his own firm as exclusive distributor in Europe, the Middle East and Africa for UniStrip®, the world’s first generic blood glucose test strip. Since September 2015, he is a member of the Advisory Board of Peppermint Venture Partners.
Dr. Schaebsdau studied Medicine at the University of Giessen and completed residencies in urology and surgery at the University of Chicago, University of Hannover and University of Freiburg. He is licensed to practice medicine in the U.S. and Germany. During his residency at the University of Hannover, he conducted primary research in neurophysiology with a grant from the DFG (Deutsche Forschungsgemeinschaft) and completed his PhD. In 1993, he received an MBA from The Wharton School of the University of Pennsylvania.
Commenting on the appointment, Dr. Faz Chowdhury, CEO of Nemaura, stated, “We are moving rapidly towards launch of SugarBEAT® in Europe and we are looking to accelerate our entrance into the United States market and are planning our submission to the FDA Human Factors Premarket Evaluation Team and we are honored that Dr. Schaebsdau has agreed to lead our European launch and assist us with the FDA 510(k) process as a Member of our Scientific Advisory Board. We are confident that Dr. Schaebsdau will help us advance our sales platform in Europe and that his oversight will help us to expedite our FDA submission. We look forward to leveraging his expertise and knowledge as we move towards commercialization and as we navigate the scientific and regulatory environments, and connect to the broad network of respected leaders in the Diabetes space.”
“The non-invasive, flexible and affordable nature of SugarBEAT® has the potential to really open up the CGM market to all diabetics, pre-diabetics and non-diabetics seeking to better manage their diet, weight and physical fitness,” said Dr. Schaebsdau. “Nemaura’s approach is truly innovative and the addressable market is global and enormous. I am honored to be involved in Nemaura’s important mission.”
About Nemaura Medical, Inc.
Nemaura Medical, Inc. (NASDAQ: NMRD), is a medical technology company developing SugarBEAT® as a non-invasive, affordable and flexible Continuous Glucose Monitor (CGM) designed to help people with diabetes and pre-diabetics better manage their glucose levels by spending more time in range. Insulin users can adjunctively use SugarBEAT® when calibrated by a finger stick reading. SugarBEAT® consists of a daily, disposable adhesive skin-patch connected to a small form factor rechargeable transmitter, connected via Bluetooth to a specially designed mobile application, which displays glucose readings at five-minute intervals throughout the day.
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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’s ongoing studies, including the safety and efficacy of Nemaura’s SugarBEAT® system, 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 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’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 undertakes no obligation to publicly update or revise any forward-looking statements.
Nemaura Medical Inc.
Chief Business Officer