Nemaura Signs License and Distribution Agreement for SugarBEAT® Commercial Launch in Qatar
20 Novembro 2018 - 6:00AM
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 persons with diabetes and pre-diabetics, today
announced that it has signed an exclusive license and distribution
agreement with Al-Danah Medical Co. for the commercial launch
of sugarBEAT® in Qatar in readiness for 2019 launch.
Qatar, has one of the world’s highest prevalence of diabetes,
with 17% of the population diabetic and 23% pre-diabetic(1), and
also has the world’s highest GDP per capita, and therefore
represents a significant market for sugarBEAT®.
Al-Danah Medical Company, part of
the Almana Group, is a leading medical product
distributor in Qatar, representing multiple global
brands.
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%. SugarBEAT® is
expected to receive CE Mark approval shortly and launch next month
in the United Kingdom, an addresable market for CGM estimated at
$1.38B per annum. The global addressable market for CGM is
estimated at $82B per annum.(2)
1 https://www.hamad.qa/EN/All-Events/mefqsh2017/presentations/Documents/Sunday/D6E6_Diabetes.pdf
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. 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.
For more information visit: www.NemauraMedical.com
www.SugarBEAT.com
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
Nemaura Medical (NASDAQ:NMRD)
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