11/07/2018 | Press release | Distributed by Public on 11/07/2018 08:34
November 7, 2018
LOUGHBOROUGH, England. Nemaura Medical Inc. (NASDAQ: NMRD), a medical technology company developing sugarBEAT® as a non-invasive affordable and flexible Continuous Glucose Monitor (CGM) for use by people with diabetes and pre-diabetics, today announced the successful development of predictive algorithms that will allow the inclusion of alarms in its sugarBEAT® CGM.
This development is expected to make sugarBEAT® more appealing to insulin users, a Total Addressable Market valued at $50Bn. CGM adoption amongst people with diabetes is minimal and growing rapidly, with the U.S. the largest single market, with an estimated 2.6% (630,000 users) of all diagnosed diabetics using CGM in 2018, representing annualized growth of 117%.1
Over the course of the last 14 months Nemaura Medical has gathered and analysed data stemming from over 25,000 paired data points between sugarBEAT® and blood serum samples taken using a venous catheter at 15 minute intervals for 12 consecutive hours. This analysis has led to substantial algorithm improvements, including predictive functionality, allowing alarms to be incorporated into sugarBEAT®.
Results indicate the alarm functionality can predict glucose level 5 minutes in advance with 98% accuracy, 10 minutes in advance with 95% accuracy and 15 minutes in advance with 90% accuracy.
SugarBEAT® is anticipated to receive CE Mark approval in the coming weeks and launch in the United Kingdom shortly thereafter.
SugarBEAT® has the potential to expand the use of CGM amongst people with diabetes and pre-diabetics given it is non-invasive and flexible, as compared to competitor CGMs, which are invasive and designed to be continuously worn for periods of up to seven days or longer.
1 PiperJaffray Company Note DXCM Sep 5, 2018
About Nemaura Medical Inc.
Nemaura Medical (NASDAQ:NMRD) is a medical technology company developing sugarBEAT® as a non-invasive, affordable and flexible Continuous Glucose Monitor (CGM) designed to help people with diabetes and pre-diabetics to better manage their glucose levels. Insulin users can adjunctively use sugarBEAT® when calibrated with a finger-stick glucose reading.
SugarBEAT® consists of a daily disposable adhesive skin-patch connected to a rechargeable transmitter, with an app displaying glucose readings at five minute intervals for periods up to 24 hours.
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Cautionary Statement Regarding Forward Looking Statements
The statements in this press release that are not historical facts, and 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, risks related to regulatory approvals and the success of Nemaura Medical's ongoing studies, including the safety and efficacy of Nemaura Medical's sugarBEAT® system, the failure of future development and preliminary marketing efforts, Nemaura Medical's ability to secure additional commercial partnering arrangements, risks and uncertainties relating to Nemaura Medical and its partners' ability to develop, market and sell sugarBEAT®, 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 sugarBEAT®. These and other risks and uncertainties are identified and described in more detail in Nemaura Medical's filings with the Securities and Exchange Commission, including, without limitation, its Annual Report on Form 10-K for the current year, its Quarterly Reports on Form 10-Q, and its Current Reports on Form 8-K. Nemaura Medical undertakes no obligation to publicly update or revise any forward-looking statements.
Nemaura Medical Inc.
Chief Business Officer