Nemaura Medical (NASDAQ: NMRD), a medical technology company focused on developing and commercializing noninvasive wearable diagnostic devices and supporting personalized lifestyle coaching programs, today announced its entry into a preliminary agreement with EVERSANA(R), a pioneer of next-gen commercial services to the global life sciences industry. The agreement covers the U.S. and all global sales and marketing of Nemaura’s diabetes management program, BEATdiabetes, which is based on Nemaura’s noninvasive glucose monitoring solution, proBEAT(TM). Nemaura and EVERSANA will collaborate to develop the optimal launch strategy for large-scale adoption of the program, including franchising and direct sales to self-insured corporate clients and health care insurers. “We are excited to be working with EVERSANA to bring our diabetes management solution to market,” said Dr. Faz Chowdhury, Nemaura Medical’s chief executive officer. “This is a culmination of several months of negotiations with EVERSANA following the encouraging outcome of the pilot studies. Diabetes management is an area of huge unmet need, and we anticipate that our solution will be very easy, simple to administer and highly cost-effective, all elements supporting large-scale adoption.”
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About Nemaura Medical Inc.
Nemaura is a medical technology company developing and commercializing non-invasive wearable diagnostic devices. The company is currently commercializing sugarBEAT(R) and proBEAT(TM). 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 health care subscription service in the U.S. as a general wellness product as part of its BEAT(R) diabetes program that is currently undergoing pilot studies. 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, visit the company’s website at www.NemauraMedical.com.
NOTE TO INVESTORS: The latest news and updates relating to NMRD are available in the company’s newsroom at https://ibn.fm/NMRD
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