Nemaura Medical Appoints Jay L. Warner as Head of U.S. Commercial Operations
Nemaura Medical (NASDAQ: NMRD) has appointed Jay L. Warner as the head of U.S. commercial operations. With over 30 years in healthcare, Warner's expertise includes developing wearable devices for diabetes management. CEO Faz Chowdhury highlighted the significant market opportunity, as currently less than one million of the 25 million diabetes patients are effectively managed, despite the rise of telemedicine. With the integration of the BEATdiabetes program, the company aims to cater to diabetes and pre-diabetes populations. Nemaura continues developing its CE-marked sugarBEAT® device, enhancing its position in the $59 billion diabetes market.
- Appointment of Jay L. Warner, a healthcare veteran with 30 years of experience, as head of U.S. commercial operations.
- Warner's background in wearable diabetes devices could strengthen Nemaura's market approach.
- Significant market opportunity with numerous diabetes patients lacking adequate management.
- Risks related to the launch of proBEAT™ in the U.S. market, including regulatory uncertainties.
- Potential issues with FDA approval for proBEAT™ as a general wellness product could limit market access.
LOUGHBOROUGH, England, Feb. 01, 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 Jay L. Warner, a 30-year veteran of the healthcare industry, as head of U.S. commercial operations.
“Jay brings a wealth of experience to Nemaura, including his experience in developing and commercializing wearable devices applicable to the diabetes market. He has spent a significant portion of his career in that market, providing a solid understanding of the specific needs associated with wearable devices. In addition, he brings the strong relationships that he has built with U.S.-based insurers, which we believe will help to drive the company’s success,” said Faz Chowdhury, Ph.D., Nemaura’s CEO. “We are at an important inflection point of the company, as telemedicine platforms such as Livongo and app-based wellness have become more and more ubiquitous since the advent of COVID-19. However, fewer than one million of the more than 25 million people with diabetes are being adequately managed utilizing such services, providing an important and significant opportunity for our clinically proven program, BEATdiabetes.life to not only impact those lives, but 90 million pre-diabetics, the majority of whom may not have adequate support.”
Prior to joining Nemaura, Mr. Warner served as senior vice president of clinical and commercialization at Cequr Corporation, where he oversaw the clinical development and commercialization of two three-day wearable insulin delivery devices. He also spent 17 years at Eli Lilly in increased levels of responsibility, working as U.S. Brand Leader for Byetta, U.S. and global endocrine director of market research, among other roles. Mr. Warner holds an M.B.A. from Boston University and a Bachelor of Science degree in marketing from Miami University, Oxford, Oh.
“Nemaura is a truly unique company that has utilized more than 12 years of clinical evidence to create a user-friendly, measurable approach to managing diabetes that integrates both behavioral modification and a wearable, disposable device that allows the impact of glucose trends to be utilized in diabetes management in a flexible and cost-efficient manner. I’m looking forward to collaborating with the team to make the BEATdiabetes program a success in the United States market,” added Mr. Warner.
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 and is expected to be launched in the U.S. as a general wellness product.
The Company sits at the intersection of the global Type 2 diabetes market that is expected to reach nearly
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
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