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Nemaura Medical Announces Improvement to SugarBEAT® Continuous Glucose Monitor
Loughborough, England –Nemaura Medical, Inc. (NASDAQ: NMRD) nemauramedical.com a medical technology company focused on the development of SugarBEAT® as a non-invasive, affordable and flexible Continuous Glucose Monitor (CGM) for use by diabetics and pre-diabetics, today announced that it has substantially advanced the use-case for SugarBEAT® to improve management of glucose levels by spending more time in range.
SugarBEAT® CGM utilizes a proprietary daily disposable adhesive skin-patch system connected to a small form factor rechargeable transmitter, connected via Bluetooth to a specially designed mobile application, which displays glucose readings at five-minute intervals throughout the day.
Nemaura has previously achieved industry-leading, skin-patch warm-up periods of less than one hour meaning that reliable glucose readings can be expected one hour after application of the skin-patch. Following optimization, Nemaura is now confident that in commercial application, this warm-up period can be halved to 30 minutes.
This is significant because it provides users with greater flexibility, for instance, for users who wish to wear the skin-patch for a few hours daily. By comparison, the leading CGM on the market requires a two-hour warm-up period (or delay before reliable reporting of glucose levels) and is designed to be worn continuously for 10 days.
“We are very proud of these latest improvements in warm-up times for SugarBEAT®, which enable a CGM solution for the 80% of diabetics that are not insulin-users as well as pre-diabetics,” commented Doctor Faz Chowdhury, CEO of Nemaura. “The flexibility of SugarBEAT® will be a key differentiating factor with the potential to reach the largest number of diabetics and provides Nemaura with the opportunity to expand into new markets.”
Globally, there are more than 400M diabetics and 1B pre-diabetics. The annual addressable market for CGM for diabetics (excluding pre-diabetics) is estimated at $82B, with the U.S. market estimated at $13B. CGM adoption among diabetics is growing rapidly; the U.S. market saw 117% growth in 2018. To date, the measurable CGM market pertains mostly to insulin-using diabetics, a potential population of approximately 20% of all diabetics. Therefore, while the U.S. is the largest single market for CGM globally, it is estimated that the 630,000 diagnosed diabetics using CGM in the U.S. in 2018 represent just 2.6% of that total addressable market. (1)
1 PiperJaffray Company Note DXCM Sep 5, 2018
About Nemaura Medical, Inc.
Nemaura Medical Inc. (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 better manage their glucose levels by spending more time in range. Insulin users can adjunctively use SugarBEAT® when calibrated by a finger stick reading. SugarBEAT® consists of a daily disposable adhesive skin-patch connected to a small form factor rechargeable transmitter, connected via Bluetooth to a specially designed mobile application, which displays glucose readings at five-minute intervals throughout the day.
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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.
Nemaura Medical Inc.
Chief Business Officer