Nemaura Medical Retains Paul Kennedy as Advisor for International Growth Opportunities and Member of the Executive Advisory Board
Nemaura Medical, Inc. (NASDAQ: NMRD) announced the retention of Paul Kennedy as an advisor for its commercial growth initiatives. Kennedy has significant bio and medtech experience, notably as a former CEO of Novo Nordisk in France. His extensive industry network is expected to bolster Nemaura's market efforts. The company is focused on developing non-invasive wearable diagnostic devices like sugarBEAT®, a continuous glucose monitor, and proBEAT™, utilizing AI for digital healthcare. Nemaura aims to tap into the growing global diabetes market, projected to reach nearly $59 billion by 2025.
- Paul Kennedy brings substantial bio and medtech experience, enhancing Nemaura's leadership.
- Kennedy's extensive network may facilitate strategic partnerships and commercial growth.
- Regulatory risks associated with the launch of proBEAT™ in the US.
- Potential uncertainties regarding FDA's evaluation of proBEAT™ as a general wellness product.
Loughborough, England, March 25, 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 that it has retained Paul Kennedy who will be advising the Company on its commercial growth initiatives.
“Paul brings a wealth of Bio and Medtech experience with many years in the industry in different roles providing a well-rounded background. He spent 15 years at Novo Nordisk, a biotechnology company that focuses on the discovery of more effective treatments for people living with diabetes and other serious chronic diseases, including as CEO of the Company in France. As a result of Paul’s years of experience in the biotech industry, he brings with him a large network that will be invaluable in helping Nemaura in driving its commercial growth initiatives. We look forward to working with Paul and are excited to see the impact he will have in this advisory role,” said Faz Chowdhury, Ph.D., Nemaura’s CEO.
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 USA under the BEATdiabetes.Life program.
The Company sits at the intersection of the global Type 2diabetes 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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