LOUGHBOROUGH, England. Nemaura Medical Inc. (NASDAQ: NMRD), a medical technology company developing sugarBEAT® as a non-invasive, affordable and flexible Continuous Glucose Monitor (CGM) for use by people with diabetes and pre-diabetics, today announced that the Advanced Technologies and Treatments for Diabetes (ATTD) Conference has accepted its sugarBEAT® Clinical Performance Data Abstract for poster presentation at Berlin in February 2019.
Nemaura will publish the full set of data for its recent sugarBEAT® clinical programs submitted for CE approval, including over 12,000 paired data points, generated by over 100 patients on over 500 patient days. Nemaura previously published interim clinical data on its website.(1) SugarBEAT® is currently undergoing the final stages of CE review, upon approval of which it will initially launch in the United Kingdom, an addressable market for CGM estimated at $1.38B per annum.(2)
ATTD is the leading international forum for clinicians to present and discuss the use of new technologies with the goal of improving the care of people with diabetes at the fastest possible pace, and has become synonymous with top calibre scientific programs.
Nemaura has also recently completed the clinical studies required for sugarBEAT® FDA De Novo 510(k) submission, and anticipates publishing this data on its website in the coming weeks, and submitting for FDA approval in March 2019.
Current global CGM usage rates are low and growing rapidly. The U.S. is the largest single market, where CGM is being used by an estimated 2.6% (630,000 users) of all diagnosed diabetics in 2018, representing annualised growth of 117%. The global addressable market for CGM is estimated at $82B per annum.(2)
(1) http://nemauramedical.com/publications/
(2) PiperJaffray Company Note DXCM Sep 5, 2018
About Nemaura Medical, Inc.
Nemaura Medical (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 to better manage their glucose levels by spending more time in range. Insulin users can adjunctively use sugarBEAT® when calibrated with a finger-stick glucose reading.
SugarBEAT® consists of a daily disposable adhesive skin-patch connected to a rechargeable transmitter, with an app displaying glucose readings at five-minute intervals for periods of up to 24 hours.
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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 Medical’s ongoing studies, including the safety and efficacy of Nemaura Medical’s sugarBEAT® system, 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 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 Medical’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 Medical undertakes no obligation to publicly update or revise any forward-looking statements.
Contacts
Nemaura Medical Inc.
Bashir Timol
Chief Business Officer
bashir.timol@nemauramedical.com
RedChip Companies
Victor Roberts
407-644-4256
victor@redchip.com