Nemaura Medical Announces Grant of U.S. Patent for SugarBEAT® Glucose Sensing Algorithm
Loughborough, England – February 7, 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 the grant of U.S. Patent 10,092,224, Cumulative Measurement of an Analyte.
SugarBEAT® CGM utilizes a proprietary, daily disposable adhesive skin-patch system 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.
SugarBEAT®️ utilizes an ultra-sensitive glucose oxidase-based sensor to detect actual glucose concentrations, which are then processed by the algorithm on the mobile application. Previously, a notable sensor limitation was that it required glucose depletion and therefore fifteen minute intervals between readings.
The newly granted patent allows sensing to occur in sub-five-minute intervals by allowing for cumulative measurements to be taken and processed by the algorithm rather than waiting for complete depletion of glucose concentrations. This allows better utility of predictive alarms as patients or users can be alerted more frequently than if the measurements were made at intervals of fifteen minutes or more. This patent, which has filed in multiple jurisdictions worldwide and has now been granted in the U.S., builds on Nemaura’s robust intellectual property portfolio.
Globally, there are more than 400M diabetics and 1B pre-diabetics. The annual addressable market for CGM for diabetics (excluding pre-diabetics) is estimated at $82B, with the U.S. market estimated at $13B. CGM adoption among diabetics is growing rapidly; the U.S. market saw 117% growth in 2018. To date, the measurable CGM market pertains mostly to insulin-using diabetics, a potential population of approximately 20% of all diabetics. Therefore, while the U.S. is the largest single market for CGM globally, it is estimated that the 630,000 diagnosed diabetics using CGM in the U.S. in 2018 represent just 2.6% of that total addressable market. (1)
1 PiperJaffray Company Note DXCM Sep 5, 2018
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 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 most recently filed Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q, and its Current Reports on Form 8-K. Nemaura Medical undertakes no obligation to publicly update or revise any forward-looking statements.
Nemaura Medical Inc.
Chief Business Officer