Nemaura Medical Launches BEAT®diabetes Program and Its Novel proBEAT™ Non-Invasive, Daily-Wear Adhesive Glucose Monitor
Nemaura Medical (NASDAQ: NMRD) officially launched its BEAT®diabetes program on Dec. 17, 2020, which includes the proBEAT™ monitor—an innovative, non-invasive glucose monitoring patch. This device provides real-time glucose feedback and personalized insights via a smartphone app, aiming to assist users in managing diabetes and promoting weight loss. Supported by AI technology, users receive continuous coaching through a virtual assistant named Lena. The company operates within the rapidly growing diabetes management market, projected to reach nearly $59 billion by 2025.
- Launch of BEAT®diabetes program and proBEAT™ monitor, innovating diabetes management.
- proBEAT™ monitor is clinically validated and offers personalized insights.
- AI-driven coaching enhances user engagement and support for lifestyle changes.
- Nemaura operates in a rapidly growing diabetes market, set to reach $59 billion by 2025.
- Uncertainty regarding regulatory approval and market acceptance of proBEAT™.
- Potential risks associated with product classification and FDA's regulatory scrutiny.
LOUGHBOROUGH, England, Dec. 17, 2020 (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 official launch of its flagship program, BEAT®diabetes, and the availability of its proprietary non-invasive, daily-wear adhesive glucose monitor, proBEAT™.
The program is supported with the proBEAT™ monitor, the world’s first non-invasive, daily-wear glucose monitoring patch used in conjunction with a smartphone app. proBEAT™ was developed as a flexible wear patch, to provide feedback and actionable insights to users in to factors that affect blood glucose fluctuations. In addition, algorithms will provide predictive information that supplies the user suggestions such as smart eating choices, exercise and other potential lifestyle changes over the long term. The program has been clinically validated to help achieve weight loss and monitor exercise.
The program also features continuous one-on-one support through its AI avatar, Lena, who learns about user habits and regularly becomes more familiar with each user. As new information is processed, Lena offers feedback and encouragement as well as helpful ideas to help users not only improve their health, but potentially reverse diabetes.
“The official launch of the BEATdiabetes program in the United States provides first access to many of the proprietary life management tools that come with the program. The smartphone and tablet app provides users with our scientifically validated, personalized coaching driven by our digital platform. The program is supported with Nemaura’s unique non-invasive glucose monitor. We believe this is the first device of its kind on the market and will provide users with an unprecedented, personalized set of tools designed to help reduce diabetes risk and even potentially reverse Type 2 diabetes with continued and dedicated use,” commented Dr. Faz Chowdhury, Nemaura’s Chief Executive Officer.
For additional information access the program website at www.beatdiabetes.life.
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
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