Nemaura Medical Appoints Industry Veteran Alistair Longmuir as Advisor on Global Product Manufacture Strategy

Rhea-AI Summary

Nemaura Medical (Nasdaq: NMRD) announced the appointment of Alistair Longmuir as an advisor for its global product manufacture strategy. His experience in the medical device field is expected to enhance Nemaura's commercial manufacturing partnerships. Longmuir, with over 30 years in engineering, previously held leadership roles at Johnson & Johnson and Lifescan, where he led the development of blood glucose monitoring devices. He aims to aid Nemaura in improving its offerings and expanding into new areas, particularly in diabetes care.

Positive

• Appointment of Alistair Longmuir may strengthen Nemaura's leadership team and product strategy.
• Longmuir's extensive experience in the medical device industry can enhance R&D and manufacturing processes.
• Potential for improved partnerships and expansion into new areas of diabetes care.

Negative

• Concerns about continuity and adaptation to new leadership dynamics.

Loughborough, England, March 04, 2021 (GLOBE NEWSWIRE) -- Nemaura Medical, Inc. (Nasdaq: NMRD) (“Nemaura” or the “Company”), a medical technology company focused on developing and commercializing non-invasive wearable diagnostic devices and supporting personalized lifestyle coaching programs, today announces the appointment of industry stalwart Alistair Longmuir as an advisor for their global product manufacture strategy.

“Ally’s work in the medical device field make him a vital addition to the Nemaura team as we build our commercial manufacturing partnerships. His extensive experience in the methodologies of R&D, manufacturing and deep industry insight will help serve to guide us as we continue to improve upon our current offerings and expand into new areas. We look forward to his leadership and guidance as we continue to round out our leadership team,” said Faz Chowdhury, Ph.D., Nemaura’s CEO.

Mr. Longmuir has over 30 Years engineering experience in the fields of in vitro diagnostics, automotive, smartcard applications and military systems. Prior to joining the Nemaura Medical team, Ally was at Johnson & Johnson (J&J) and Lifescan for a total of 16 years, where he was Director of R&D with responsibility for the strategic leadership of LifeScan’s blood glucose monitoring development . With the divestiture of Lifescan from J&J, during that time, Ally continued strategic leadership of IVD blood glucose platforms, shaped the new R&D devices organization delivering high quality and cost-efficient products, driving product strategy, innovation and external partnerships.

Through his time at LifeScan, he built a wealth of specialist knowledge in the full end-to-end development of medical devices & products demonstrated by the many products he has launched in North America, LATAM, EMEA, APAC delivering multi-million-dollar revenue with FDA, CE and other global certifications. He has a proven track record in the delivery of connected medical devices, launching multiple products on a global scale, used by over 20million patients on a daily basis. 

Mr. Longmuir has several patents related to diabetes monitoring and has presented to the U.S. FDA on blood glucose meter development and manufacturing as part of their internal auditor teaching program.

He has a BSc (Hons) in Electronics and Software Engineering earned at the Open University.

“Nemaura has a cutting-edge approach to diabetes care and has demonstrated that the combination of behavioral modification and a wearable, disposable device to closely monitor glucose trends may make a significant difference in the lives of those with diabetes and pre-diabetes. I’m looking forward to integrating with the team and helping the company achieve these goals,” added Mr. Langmuir.

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, launched in the U.S. as part of its BEATdiabetes program.

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 US, risks related to regulatory status and the failure of future development and preliminary marketing efforts, Nemaura’s ability to secure additional commercial partnering arrangements, risks and uncertainties relating to Nemaura 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 FDA reserves the right to re-evaluate their 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’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 undertakes no obligation to publicly update or revise any forward-looking statements.

Contact:

Jules Abraham
CORE IR
917-885-7378
julesa@coreir.com

FAQ

Who is Alistair Longmuir and what is his role at Nemaura Medical?

Alistair Longmuir has been appointed as an advisor for Nemaura Medical's global product manufacture strategy, bringing over 30 years of experience in the medical device field.

What experience does Alistair Longmuir have related to medical devices?

Longmuir has over 16 years at Johnson & Johnson and Lifescan, where he was responsible for blood glucose monitoring development and launched multiple medical devices.

What impact could the appointment of Alistair Longmuir have on Nemaura Medical's stock (NMRD)?

Longmuir's appointment may positively impact Nemaura Medical's stock by strengthening its leadership and enhancing product development and partnerships.

What is Nemaura Medical's focus in the healthcare sector?

Nemaura Medical focuses on developing non-invasive wearable diagnostic devices and personalized lifestyle coaching programs, particularly for diabetes care.