Nemaura Places SugarBEAT® Manufacturer Order for UK Commercial Launch
July 17 2018 - 08:00AM
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 it has placed an initial order with its designated
UK-based contract manufacturer for 12,500 sugarBEAT® rechargeable
transmitters, which will be supplemented with approximately 100,000
skin-patches per month, also manufactured in the UK, in preparation
for the anticipated sugarBEAT® product launch in the coming
months.
SugarBEAT® consists of a daily-disposable adhesive skin-patch
connected to a rechargeable transmitter, with an app displaying
glucose readings at five minute intervals, and is expected to
launch initially in the United Kingdom, upon CE Mark approval.
Dr Faz Chowdhury, CEO and chair of Nemaura Medical commented 'We
expect this initial order will support the successful launch of
sugarBEAT® in the UK later this year, and also develop the
capacities needed for subsequent scale up and launch in other
countries which accept the CE Mark.'
Nemaura Medical recently completed a sugarBEAT® European
three-stage clinical trial program consisting of 75 patients over
525 patient days in total, and have used this data to support their
CE Mark application. A predecessor sugarBEAT® device, based on a
wired wrist-watch form factor, received CE Mark approval in
2016.
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 at five minute intervals.
For more information, please
visit www.NemauraMedical.com and www.SugarBEAT.com.
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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version on businesswire.com: https://www.businesswire.com/news/home/20180717005027/en/
Nemaura Medical Inc.Bashir TimolChief Business
Officerbashir.timol@nemauramedical.comorThe Ruth GroupLee
Roth646-536-7012lroth@theruthgroup.com
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