Nemaura Medical Wins Innovation Awards
February 28 2022 - 8:00AM
Nemaura Medical, Inc. (Nasdaq: NMRD) (“Nemaura” or the “Company”),
a medical technology company focused on developing and
commercializing wearable diagnostic devices and supporting
personalized lifestyle coaching programs, announces it received the
top award as Innovator of the Year at the LeicestershireLive
Innovation Awards 2022 held on February 24, 2022. Additionally, the
Company was also awarded top honors for Innovation in MedTech and
Life Sciences.
Now in its fourth year, the LeicestershireLive
Innovation Awards celebrate the very best technology, services,
digital advances, and creative thinking that the Leicestershire, UK
region offers by recognizing individuals, teams, and businesses
that are leading the way in research and development, manufacturing
techniques, software, and digital technologies.
“We are gratified and honored to be chosen for
these top awards by our community peers. The Leicestershire regions
has truly inspirational people and teams at the technology
forefront across numerous industries. Thus, it is quite special to
be recognized by our peers for our efforts to bring non-invasive
diagnostics to market in an effort to bring significant increases
in health, well-being, and the quality of life to people’s everyday
lives,” commented Dr. Faz Chowdhury, CEO of Nemaura.
Nemaura recently began commercializing its
sugarBEAT® continuous glucose monitor (CGM) through its UK licensee
MySugarWatch Limited and has completed initial shipments of its CGM
devices to MySugarWatch. It also recently introduced Miboko, a new
metabolic health program using a body-worn glucose sensor along
with an AI mobile application, as a form of wellness and a
preventative medicine platform.
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.
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 U.S., risks related to regulatory status
and 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 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 U.S.
Food and Drug Administration (the “FDA”) reserves the right to
re-evaluate its 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 Medical’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 Medical undertakes no obligation to publicly update or
revise any forward-looking statements.
Contact:
Jules AbrahamCORE IR917-885-7378julesa@coreir.com
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