Breaking News: Nemaura Medical Announces Order for 200,000 sugarBEAT® Sensors | #site_titleBreaking News: Nemaura Medical Announces Order for 200,000 sugarBEAT® Sensors

Breaking News: Nemaura Medical Announces Order for 200,000 sugarBEAT® Sensors

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.

“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,” Dr. Chowdhury added.

“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.

Sponsored Content Release. Click for Full Disclosure

Opt-into our eNewsletter NOW! For the Latest Trending Financial News Topics in Cannabis, Tech, Biotechs, Precious Metals, Energy, Renewable Energy and much more!

  • Sponsored Content Release

    FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

    Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the ‘Site’) is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions, recommendations or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For nemaura medical inc. financial and corporate news dissemination, FinancialBuzz.com has been compensated five thousand dollars by the company. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit: http://www.financialbuzz.com.