Nemaura Medical Launches sugarBEAT® App on Play Store Ahead of its Planned Commercial Launch of BEAT®diabetes Subscription ...
March 03 2020 - 7:00AM
Business Wire
sugarBEAT® App is now available on Play Store
with iOS app planned to follow, ahead of the planned BEAT®diabetes
subscription service launch
Nemaura Medical, Inc. (NASDAQ: NMRD) (“Nemaura” or the
“Company”), a medical technology company focused on developing
micro-systems-based wearable diagnostic devices and currently
commercializing sugarBEAT®, its non-invasive and flexible
continuous glucose monitor (“CGM”), together with BEAT®diabetes, a
planned health subscription service designed to help people with
Type 2 diabetes and prediabetes through personalized lifestyle
coaching, launched its sugarBEAT® App for Android devices on
the Play Store in preparation for the planned launch of the
Company’s BEAT®diabetes subscription based service expected
for next month.1
“We believe that the launch of our app is a big step towards our
commercial milestones, and we are looking forward to launching the
BEAT®diabetes subscription service shortly during Type 2 Diabetes
Prevention Week in the UK. This is a very exciting time in our
company’s development” stated Dr. Faz Chowdhury, CEO of
Nemaura.
“The sugarBEAT® app includes time-in-range profiling
features which we believe is rapidly being adopted as the primary
metric for managing individual daily blood glucose profiles”.
BEAT®diabetes is a subscription based service which, we
believe, over time will provide both people with prediabetes and
Type 2 diabetes with a number of affordable and empowering tools to
better manage, prevent and potentially even reverse their
condition.
The first phase of the commercial launch of sugarBEAT® began in
the UK after the Company received CE Mark approval in 2019. In this
initial phase, devices were supplied to a limited cohort of users
while the Company focused on scaling up its manufacturing
operations. The UK licensee of sugarBEAT®, DB Ethitronix, is
currently in the process finalizing the launch of online sales of
sugarBEAT®.
The Company is currently planning a user study comparing
sugarBEAT® directly against a highly successful major incumbent CGM
sensor with the goal of positioning sugarBEAT® as a non-invasive,
daily/flexible, cost-effective alternative to traditional,
expensive and invasive CGM.
The global total addressable market for CGM is estimated at $82
billion per annum, consisting of $12.7 billion for Type 1 insulin
users (5% of diabetes), $38.0 billion for Type 2 insulin users (15%
of diabetes) and $31.4 billion for Type 2 non-insulin users (80% of
diabetes). These numbers exclude the prediabetes population which
is estimated at nearly three times as large as the diabetes
population.2
-
https://play.google.com/store/apps/details?id=com.triteq.sugarbeat
- PiperJaffray Company Note DXCM Sep 5, 2018
About Nemaura Medical, Inc.:
Nemaura Medical, Inc. (NMRD), is a medical technology company
developing micro-systems-based wearable diagnostic devices and
currently commercializing sugarBEAT® and BEAT®diabetes. sugarBEAT®
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 help people with
diabetes and prediabetes to better manage, reverse and prevent the
onset of diabetes. BEAT®diabetes is a planned health subscription
service providing 1-on-1 lifestyle coaching and behavior change
recommendations driven by personalized data provided by sugarBEAT®.
People with diabetes who take insulin can also adjunctively use
sugarBEAT® for insulin dosage purposes 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®. There can be no assurance that the company will be able
to reach a part of or any of the global market for CGM with its
products/services. 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.
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Investor Contact: Dave Gentry, CEO RedChip Companies
Office: 1.800.RED.CHIP (733.2447) Cell: 407.491.4498
dave@redchip.com
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