Nemaura Medical Announces Exclusive License and Supply Agreement for SugarBEAT® in the GCC Region
March 12 2019 - 9:18AM
Loughborough, England – March 12, 2019 – Nemaura Medical, Inc.
(NASDAQ: NMRD), a medical technology company focused on the
development of SugarBEAT® as a non-invasive, affordable and
flexible Continuous Glucose Monitor (CGM) for use by diabetics and
pre-diabetics, today announced that it has signed an exclusive
license and supply agreement for SugarBEAT® with TPMENA in the Gulf
Cooperation Council (GCC) Region, which includes Bahrain, Kuwait,
Saudi Arabia, Oman and United Arab Emirates. See
http://www.tpmena.com/
TPMENA is a distributor of medical devices in the GCC Region,
backed by Cigalah group. See https://naghi-group.com/ . TPMENA is
headquartered in Saudi Arabia, which markets and sells many of the
leading brands of medicines and medical devices. The GCC Region has
more than 35 million diabetics, with data from the International
Diabetes Federation showing prevalence of the disease has reached
23.9% of the adult population in Saudi Arabia and 23.1% in Kuwait,
which is more than twice the global average of 8.3%.
Dr. Faz Chowdhury, CEO of Nemaura Medical, commented, “The GCC
Region is a key market for SugarBEAT® because the prevalence of
diabetes is one of the highest in the world. We are delighted to be
involved with TPMENA, which brings an extensive network and proven
track record. Over the past year, we have established a
strong relationship with senior management of TPMENA and have full
confidence that TPMENA is an exceptional partner for SugarBEAT®.
Prior to entering into the agreement, TPMENA conducted extensive
market research, with very positive feedback from both consumers
and key opinion leaders. We look forward to accelerating the
registration processes required for an aggressive GCC commercial
launch of SugarBEAT® upon receipt of CE Mark approval.”
About Nemaura Medical, Inc.:
Nemaura Medical, Inc. (NASDAQ: NMRD), is a medical
technology company developing 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. SugarBEAT® consists of a daily, disposable adhesive
skin-patch connected to a small form factor rechargeable
transmitter, connected via Bluetooth to a specially designed mobile
application, which displays glucose readings at five-minute
intervals throughout the day.
For more information visit:
http://www.nemauramedical.com/
http://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’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
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
undertakes no obligation to publicly update or revise any
forward-looking statements.
Contact:
Crescendo Communications, LLC 212-671-1021
NMRD@crescendo-ir.com
Nemaura Medical (NASDAQ:NMRD)
Historical Stock Chart
From Jun 2024 to Jul 2024
Nemaura Medical (NASDAQ:NMRD)
Historical Stock Chart
From Jul 2023 to Jul 2024