Nemaura Medical Launches BEAT®diabetes Smartphone App on Android and iOS Platforms; Begins Pilot Distribution of proBEAT™ ...
April 13 2021 - 8:05AM
Nemaura Medical, Inc. (NASDAQ: NMRD) (“Nemaura” or the “Company”),
a medical technology company focused on developing and
commercializing non-invasive wearable diagnostic devices and
supporting personalized lifestyle coaching programs, today
announced the launch of its BEAT®diabetes app on the GooglePlay and
iOS platforms.
The BEATdiabetes app, which is publicly
available through the Google Play store and Apple’s app store
provides predictive information that supplies the user suggestions
such as smart eating choices, exercise and other potential
lifestyle changes over the long term based on information provided
by the user. It also features continuous one-on-one support through
its AI avatar, Lena, who learns about user habits and regularly
becomes more familiar with each user. As new information is
processed, Lena offers feedback and encouragement as well as
helpful ideas to help users not only improve their health, but
potentially reverse Type 2 diabetes. The program is based on an
in-clinic program originally developed and validated at the Joslin
Diabetes Center.
The Company is also beginning pilot programs
that include its proprietary proBEAT™ monitor, a non-invasive,
daily-wear glucose monitoring patch, synced with the BEAT®diabetes
program. proBEAT™ is a flexible wear patch, which provides feedback
and actionable insights to users to better understand how diet and
lifestyle adjustments might impact blood glucose fluctuations,
empowering its users with knowledge that can lead to smarter
decisions and improved overall health and well-being.
“We believe that the BEAT®diabetes app offers a
significant new path toward better lifestyle management with the
overall aim of providing a better tool for improved management and
potential reversal of Type 2 diabetes,” commented Dr. Faz
Chowdhury, Nemaura’s Chief Executive Officer. “In addition, we
believe our pilot program which includes our proBEAT™ non-invasive
glucose sensor ushers in a new era in the development of life
management tools that have been scientifically validated and
utilize a personalized coaching method that combines a digital
platform with data from a unique non-invasive device. We have
initially adopted a business-to-business model and are actively
exploring a range of options for broad distribution of this
combined program through U.S. insurers and employee wellness
programs. The sensor technology provides us with a unique position
in this market, at a competitive price point. We look forward to
discussing further distribution of the proBEAT™ monitor and
associated programs as we progress our commercial initiatives.”
For additional information access the program website at
www.beatdiabetes.life. About Nemaura Medical,
Inc.
Nemaura Medical Inc. is a medical technology
company developing and commercializing non-invasive wearable
diagnostic devices. The company is currently commercializing
sugarBEAT® and proBEAT™. sugarBEAT®, a CE mark approved Class IIb
medical device, 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 may help
people with diabetes and pre-diabetes to better manage, reverse,
and prevent the onset of diabetes. Nemaura has submitted a PMA
(Premarket Approval Application) for sugarBEAT® to the U.S. FDA.
proBEAT™ combines non-invasive glucose data processed using
artificial intelligence and a digital healthcare subscription
service and has been launched in the U.S. as a general wellness
product as part of its BEAT®diabetes program.
The Company sits at the intersection of the
global Type 2 diabetes market that is expected to reach nearly $59
billion by 2025, the $50+ billion pre-diabetic market, and the
wearable health-tech sector for weight loss and wellness
applications that is estimated to reach $60 billion by 2023.
For more information, please visit www.NemauraMedical.com.
Cautionary Statement Regarding Forward-Looking
Statements:
The statements in this press release that are
not historical facts 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, the
launch of proBEAT™ in the US, risks related to regulatory status
and 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
proBEAT™, 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
both proBEAT™ digital health, and 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. The FDA
reserves the right to re-evaluate their decision that proBEAT™
qualifies as a general wellness product should it become aware of
any issues such as skin irritation or other adverse events from the
device, as well as any misuse impacting patient safety, and any
other reason as the FDA may see fit at its discretion to determine
the product does not fit the definition of a general wellness
product. 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:
Jules Abraham CORE IR 917-885-7378 julesa@coreir.com
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