Nemaura Medical Signs Joint Collaboration Agreement for European Commercialization
LOUGHBOROUGH, England–(BUSINESS WIRE)–Nemaura Medical Inc. (NASDAQ: NMRD), a medical technology company developing the wireless sugarBEAT® non-invasive glucose monitoring system for adjunctive use by persons with diabetes, today announced that it has entered in to a definitive joint Collaboration Agreement with Dallas Burston Ethitronix (DBE) to commercialize sugarBEAT® in the European Economic Area (EEA). Nemaura previously signed a licensing agreement with DBE for the commercialization of sugarBEAT® in the United Kingdom and Ireland.
“We are pleased to extend our relationship with DBE and believe their expertise will play an important role in the commercialization of sugarBEAT®.” said Dr. Faz Chowdhury, Chairman and CEO of Nemaura. “We expect to receive CE approval for sugarBEAT® in the coming months and anticipate an initial launch in the UK later this year spearheaded directly by DBE, followed by a broader roll-out to select European markets via sub-distributors.”
DBE was founded by Dr. Dallas Burston (MBBS), a pharmaceutical marketing entrepreneur specializing in selling breakthrough medical products into European markets. Dr. Burston has founded and rapidly grown several European medical companies which were subsequently acquired by large pharmaceutical companies.
DBE and Nemaura are in discussions with several large global organizations active in the Diabetes space with established infrastructure and market presence, regarding appointing one or more sub-distributors to cover European territories, and will share equally in all income and expenditure under the terms of their agreement.
About Nemaura Medical Inc.
Nemaura Medical Inc. (NASDAQ: 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 daily disposable adhesive skin-patch connected to a rechargeable transmitter, with an app displaying glucose readings every five minutes.
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.
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