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Commercial Advancements in Non-Invasive Wearable Diagnostic Devices for Diabetes Management and Metabolic Wellness: Nemaura Medical, Inc. (NASDAQ: NMRD)
Nemaura Medical, Inc (NASDAQ:NMRD)
— NMRD CEO Dr. Faz Chowdhury
LOUGHBOROUGH, ENGLAND, UNITED KINGDOM, September 20, 2022 /EINPresswire.com/ — Commercial Advancements in Non-Invasive Wearable Diagnostic Devices for Diabetes Management and Metabolic Wellness: Nemaura Medical, Inc. (NASDAQ: NMRD)
Real-Time Glucose measurements and Trend Data Which May Help with Diabetes and pre-Diabetes.
Non-Invasive Glucose Data Processed via Artificial Intelligence and Digital Healthcare Subscription Service.
Program to Understand How Certain Foods and Lifestyle Habits can Impact Metabolic Health and well-being.
Type 2 Diabetes Market Expected to Reach nearly $59 billion by 2025.
Presented at 24th Annual H.C. Wainwright Global Investment Conference.
Nemaura Medical, Inc. (NASDAQ: NMRD) based in Loughborough, England is a medical technology company developing and commercializing non-invasive wearable diagnostic devices. NMRD 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. NMRD 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, NMRD has launched a beta trial of Miboko, a 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. NMRD believes that up to half the population could benefit from a sensor and program that monitors metabolic health and well-being.
NMRD 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.
NMRD Present at the 24th Annual H.C. Wainwright Global Investment Conference
On September 6th NMRD announced that CEO Dr. Faz Chowdhury would present a corporate overview at the 24th Annual H.C. Wainwright Global Investment Conference, which is being held on September 12 – 14, 2022. The virtual presentation was also set to be made available on-demand beginning on September 12th to H.C. Wainwright registered attendees of the conference. Dr. Chowdhury was prepared to be available for one-on-one meetings.
Fiscal First Quarter 2023 Results and Provides Business Update
On August 15th NMRD released its financial results for the quarter ending June 30, 2022, and provides a business update.
Recent Corporate Highlights:
NMRD entered into a new note purchase agreement in May 2022 and received $5 million in proceeds
“We are very pleased with the progress we are steadily making with our manufacturing and commercialization support activities. Our daily wearable continuous glucose sensor is unique and innovative, offers lifestyle advantages over competing for continuous glucose sensors, and has potential applications for people with diabetes and for the consumer wearable sensor market in general,” commented NMRD CEO Dr. Faz Chowdhury. “We continue to build an outstanding team of scientists, manufacturing personnel, engineers, and commercial managers to help advance the Company to the next phase of maturity and development. Importantly, given the current market climate, we are extremely pleased to have recently raised additional non-dilutive funding without any attached warrants or options, further strengthening our balance sheet as we anticipate growing our revenues in the coming quarters.”
1Q23 Financial Summary:
Total cash-operating expenses for the quarter were approximately $1.6 million. Additional headcount has been added to support the operational scale-up process and to continue building product inventory to fulfill existing purchase orders and support ongoing and future commercial sales activities.
Cash and cash equivalents on June 30, 2022, were approximately $14.8 million, as compared to $17.7 million on March 31, 2022.
NMRD Granted UK Trademark “Meta Score,” a Digital Biomarker Term for its Metabolic Health Program
On July 21st NMRD announced that it has been granted a UK trademark for “Meta Score,” a term the Company plans to use as a digital biomarker for its consumer metabolic health program. Trademark applications are now pending in several other major global territories.
Meta Score will be the metric and digital biomarker NMRD will use as part of its consumer programs. This digital biomarker will derive output from the NMRD glucose sensor in combination with a number of behavioral inputs of users. These consumer programs target the pre-diabetes and obesity markets, with over 87 million people in the U.S. alone with pre-diabetes.
“We believe that owning the description of measurement for the biomarker utilized in the Miboko program is an important differentiation among all of the various metabolic health programs currently available,” commented NMRD CEO Faz Chowdhury, Ph.D. “While there are many medical measurements that doctors rely on to understand a person’s metabolic health, by creating and branding a simple-to-describe score we have created a means to easily track metabolic health and demonstrate progress while using our sensor that is easy to wear.”
DISCLAIMER: This article is purely for informational purposes and is not a recommendation in any way for buying or selling stocks
Nemaura Medical, Inc. (NASDAQ: NMRD) Corporate Overview