Nemaura Medical Launches Metabolic Health Program for Employers and Insurers
January 13 2022 - 8:30AM
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, announces the
launch for employers and insurers of Miboko, a new metabolic health
program using a non-invasive glucose sensor along with an AI mobile
application. The Company’s goal is to achieve broad adoption of
Miboko as a form of preventative medicine for a wide user base
through these commercial channels and is aligned with the general
trend in consumer digital healthcare.
“Introducing Miboko to the population at-large
through employers and insurers will allow Nemaura to reach a much
wider audience in much faster fashion than solely relying on a
direct-to-consumer campaign, and in the Western world, these
institutions are the most reliable gateway toward wider adoption of
preventative health maintenance practices,” commented Nemaura CEO
Dr. Faz Chowdhury. “Being aware of one’s metabolic health and how
the body uniquely regulates sugar is key to one’s health. Patients,
of course, want to be as informed as possible about their health,
and employers and insurers are also aligned with patients in that
regard, given the massive productivity losses and healthcare costs
at stake on a larger scale across their employee and insured base,
respectively. Miboko can help address this substantial market
opportunity through our non-invasive, revolutionary approach to
healthcare.”
Nemaura has also submitted a Premarket Approval
(PMA) to the United States Food and Drug Administration (FDA) for
approval of its glucose monitoring device as a Class 3 medical
device. The Company’s PMA was the subject an on-site FDA
bioresearch monitoring (BIMO) audit that generated a single Form
483 observation, for which the Company has committed to a full
response this quarter. A follow-up BIMO audit of the clinical
investigator site has also been scheduled for the current financial
quarter.
Miboko has been in development for nearly two
years and addresses a significant mass market opportunity that the
Company believes could benefit roughly a third to half of the
population by using a non-invasive glucose sensor to measure and
monitor a user’s metabolic health score, which is based on glucose
tolerance or insulin resistance. Those with prediabetes or obesity
concerns -- or even those looking to maintain better health through
more careful glucose control -- may benefit from such a metabolic
health program. How one’s body metabolizes sugar is the main
influencer of one’s appetite, weight, sleep quality, and energy and
mood levels and even plays a critical factor in chronic diseases
(beyond just diabetes), such as heart disease and dementia.
At the heart of the Miboko offering is Nemaura’s
non-invasive glucose sensor that is designed to measure insulin
resistance, reported as a metabolic health score, and priced to be
highly affordable with the program running for an initial two-year
period. The program also uses a mobile app to provide users with
personalized information by tracking their metabolism. A user can
find out how well their body responds to sugar through their
metabolic health score — and how what they eat and what they do
every day uniquely affects their metabolic health.
Along with the capability to follow metabolic
health progress on the app, Miboko users receive weekly and monthly
reports that show and explain their body’s unique metabolic health
score and a breakdown of how each of their habits are impacting
their overall health and wellbeing. Suggestions for small,
manageable changes to daily routines, such as eating more or less
of a certain kind of food or exercising at a different time of day
to coincide with peak energy levels, provide Miboko users with
personalized, usable data.
For more information on Miboko, please visit
www.miboko.com.
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 that is currently
undergoing pilot studies.
Additionally, Nemaura has launched Miboko, a new
metabolic health and well-being program using a non-invasive
glucose sensor along with an AI mobile application that helps a
user understand how certain foods and lifestyle habits can impact
one’s overall metabolic health and well-being. Nemaura believes
that up to half the population could benefit from a sensor and
program that monitors metabolic health and well-being.
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.
Contact:
Jules AbrahamCORE IR917-885-7378julesa@coreir.com
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