Nemaura (NASDAQ: NMRD), a medical technology company focused on developing and commercializing a daily disposable, wearable glucose sensor and supporting personalized lifestyle coaching programs, today announced SFDA (Saudi Food and Drug Authority) approval of sugarBEAT(R), its non-invasive wearable glucose sensor. According to the update, the news comes after a year of liaisons with the SFDA through TPMENA, the company’s licensee in the Middle East. This is seen as a major breakthrough in product commercialization in the largest territory in the Middle East, and a region with one of the world’s highest diabetes prevalence rates. Based on a report in 2021 by the Economist Intelligence Unit, nearly 4.5 million people, or 18.3% of the adult population in Saudi Arabia, have diabetes. This compares to a global average of 9.3%. Further, it is estimated that 39% of adults with diabetes in Saudi Arabia are unaware that they have the condition, leaving them at higher risk of complications without management. This segment of nearly 9 million is ideally placed to benefit from sugarBEAT(R) sensors within a general metabolic health improvement program. Such a program specifically addresses obesity to avoid diabetes and other complications and has shown efficacy within trials with the U.K.’s National Health Service.
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About Nemaura Medical Inc.
Nemaura is a medical technology company developing and commercializing noninvasive wearable diagnostic devices. The company is currently commercializing sugarBEAT(R) and proBEAT(TM). sugarBEAT, a CE mark approved Class IIb medical device, is a noninvasive 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 prediabetes 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 noninvasive glucose data processed using artificial intelligence and a digital health care subscription service as a general wellness product as part of its BEAT(R) diabetes program that is currently undergoing pilot studies. Additionally, Nemaura has launched a beta trial of Miboko, a metabolic health and well-being program using a non-invasive glucose sensor along with an AI mobile application that helps a user understand how certain foods and lifestyle habits can impact one’s overall metabolic health and well-being. Nemaura believes that up to half the population could benefit from a sensor and program that monitors metabolic health and well-being. 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 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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