Nemaura Signs Letter of Intent for SugarBEAT® Commercial Launch in Qatar
September 18 2018 - 4:00AM
LOUGHBOROUGH, England. Nemaura Medical Inc. (NASDAQ: NMRD),
a medical technology company developing sugarBEAT® as a
non-invasive affordable and flexible Continuous Glucose Monitor
(CGM) for use by persons with diabetes and pre-diabetics, today
announced that it has signed a non-binding letter of intent for an
exclusive licensing agreement with Al-Danah Medical Co for the
commercial launch of sugarBEAT® in Qatar. A final binding
license agreement between Nemaura and Al-Danah is scheduled
for completion by November 16, 2018 in readiness for
anticipated 2019 Qatar product launch.
Qatar has one of the world’s highest prevalence of diabetes,
with 17% of the population diabetic and 23% pre-diabetic1, and also
has the world’s highest GDP per capita, and is therefore a
significant potential market for sugarBEAT®.
Al-Danah Medical Company, part of
the Almana Group, is a leading medical product
distributor in Qatar, representing multiple global brands.
CGM adoption is growing rapidly amongst diabetics, with the
global total addressable market estimated at $82Bn annually. The
U.S. is the largest single market, where CGM is being used by an
estimated 2.6% (630,000 users) of all diagnosed diabetics in
2018, representing annualised growth of 117%. 2
1 https://www.hamad.qa/EN/All-Events/mefqsh2017/presentations/Documents/Sunday/D6E6_Diabetes.pdf
2 PiperJaffray Company
Note DXCM Sep 5, 2018
About Nemaura Medical, Inc.
Nemaura Medical (NASDAQ:NMRD) is a medical technology company
developing sugarBEAT® as a non-invasive, affordable and
flexible Continuous Glucose Monitor (CGM) designed to provide
persons with diabetes and pre-diabetics with an Ambulatory Glucose
Profile (AGP) as a superior metric to better manage their glucose
levels as compared to an HbA1c reading. Insulin users can
adjunctively use sugarBEAT® when calibrated with a finger-stick
glucose reading.
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 periods of up to 24
hours.
For more information visit:www.NemauraMedical.com
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.
Contacts
Nemaura Medical Inc.Bashir TimolChief Business
Officerbashir.timol@nemauramedical.comorThe Ruth GroupLee
Roth646-536-7012lroth@theruthgroup.com
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