Nemaura Medical announces expansion of SugarBEAT® offering with BEAT® Diabetes digital subscription services
December 05 2019 - 8:30AM
Nemaura Medical, Inc. (NASDAQ:NMRD) (“Nemaura”), a medical
technology company focused on the commercialization of SugarBEAT®
as a non-invasive, affordable and flexible Continuous Glucose
Monitor (CGM) for diabetics and pre-diabetics, announced that it
has expanded its SugarBEAT® CGM capabilities by launching a new
digital health offering, BEAT® Diabetes (www.BEATdiabetes.life),
which focuses on the prevention and reversal of Type II diabetes
through a range of holistic app and coaching services encouraging
behavioural change. Both BEAT® Diabetes and SugarBEAT® target the
underserved $69 billion market for Type 2 diabetics and $50 billion
market for pre-diabetics.
Combining apps and coaching for patients has
been independently and clinically proven to enhance the impact of
diabetes management. The full range of services within the BEAT®
Diabetes offering, which will be available under a variety of
subscription packages, will include an app to track and provide
personal lifestyle recommendations to patients according to their
blood glucose levels, one-on-one coaching, and routine measurement
of other parameters that allow improved disease management through
early monitoring. BEAT® Diabetes will track the user’s blood
glucose trends and provide information about how their condition is
being affected by individual lifestyle factors.
SugarBEAT® is a non-invasive daily-use CGM
device, with CE mark approval in Europe, which sits on top of the
skin and transmits glucose readings at five minute intervals to a
phone app . The flexibility afforded by a daily use wear time
allows users to selectively utilize SugarBEAT® on days they prefer.
This compares to conventional CGM technologies that require
penetration of the skin and extended continuous day usage for
periods between 10-14 days, which significantly limits the
potential user population.
By combining glucose readings and daily glucose
trend data provided by SugarBEAT® with digital coaching and support
services provided by BEAT® Diabetes, users will be better able to
achieve lifestyle changes to potentially prevent or reverse type II
diabetes. Additionally, insulin users who do not currently use any
CGMs have a non-invasive flexible CGM alternative, which can
empower them with glucose profile data on days of their choosing,
to improve management of their glucose fluctuations and allow
insulin dose adjustment using confirmatory finger stick
readings.
Dr. Faz Chowdhury, CEO of Nemaura, commented,
“Diabetes is a global pandemic affecting over 450 million people
worldwide. This disease has a major impact not only on individuals,
but also employers, healthcare providers and insurers that incur
substantial long-term costs to help patients manage their
condition. We believe that simple monitoring of glucose is not
enough. Patients need access to a variety of methods to better
manage their glucose. The combination of our self-monitoring
wearable platform with digital support and prompts, as well as
one-on-one coaching through the BEAT® Diabetes app is designed to
provide greater optionality and flexibility to both patients and
payors alike.”
The launch of the BEAT® Diabetes website is
intended to allow both individuals and corporate users to register
their early interest so that Nemaura can provide them with details
of the various subscription packages that will be
available. The holistic diabetes management service is also
intended to augment sales of SugarBEAT® by its licensees. For more
information on the direct-to-consumer and corporate subscription
offerings click here, www.BEATdiabetes.life
About SugarBEAT®
SugarBEAT® consists of a daily disposable
adhesive skin-patch connected to a rechargeable transmitter, with
an app displaying glucose readings every five minutes throughout
the day. SugarBEAT® is expected to help a person with diabetes and
pre-diabetes better track how lifestyle factors can impact daily
glucose level trends (known as an Ambulatory Glucose Profile)
thereby significantly improving the amount of daily time spent in
range. For more information, visit www.SugarBEAT.com.
Nemaura received CE Mark approval for SugarBEAT®
as a Class IIb medical device in May 2019. Subsequent to the
approval, the Company commenced the first phase of the product
launch and has gathered feedback from diabetic and non-diabetic
users, enabling fine tuning of the user experience. These findings
were reported during a symposia held by the company at the European
Association for the Study of Diabetes, held in Barcelona in
September 2019, and are available for viewing on the Company’s
website (https://nemauramedical.com/easd-symposia-2019).
About Nemaura Medical,
Inc.:
Nemaura Medical, Inc. (NMRD), is a medical
technology company commercializing 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.
For more information visit:
www.NemauraMedical.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’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 United States Securities and Exchange
Commission, including, without limitation, its Annual Report on
Form 10-K for the most recently completed fiscal 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.
Contact:Crescendo
Communications, LLC 212-671-1021 NMRD@crescendo-ir.com
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