LOUGHBOROUGH, Sept. 12, 2023 (GLOBE NEWSWIRE) -- Nemaura Medical, Inc.(NASDAQ: NMRD) (“Nemaura” or the “Company”), a medical technology company focused on developing and commercialising non-invasive wearable diagnostic devices and supporting diabetes management and personalized lifestyle coaching programs, today announced it will be participating at the HLTH 2023 conference, in Las Vegas, in October.
The Company’s attendance is in response to several enquiries from existing diabetes and metabolic health program providers, to integrate their daily wear Continuous Glucose Monitor (CGM) into existing diabetes care, metabolic health, and weight-loss programs.
The Company believes that its proprietary technology can serve as a powerful complement to program providers, empowering users with access to personalized data, insights and guidance based on their body’s response to glucose intake. This is expected to allow users to be able to have conversations with their existing program provider on a broad range of health and weight-loss topics, for example patients can ask for tailored meal plans, recipes, exercise routines, stress management techniques, and motivational insights.
To support third parties, the Company has made modifications to its architecture to enable sensor integration with other digital programs. The daily use sensor represents a low-cost addition to providers’ program costs whilst empowering users in a way that is not currently possible using invasive sensors due to the associated high costs. This strategy is expected to allow Nemaura to scale its commercialisation programs rapidly and cost-efficiently.
In the United States alone, there are over 1,500 diabetes management programs and a multitude of digital programs that aim to improve metabolic health and help reduce weight as part of lifestyle interventions. According to the Centers for Disease Control and Prevention there are 96 million people over the age of 18 in the USA with pre-diabetes, and over 28 million adults with diabetes.
Attendees and prospective licensees will be able to see how the sensor augments user experience, and the potential it provides for enhanced engagement and sustained benefits from their existing programs.
About HLTH 2023
HLTH 2023 is a leading forum for consumer health and wellness brands focusing on wearables, metabolic health, fitness, nutrition and longevity. The conference attracts over 10,000 attendees, including 2,500+ CEO’s from insurance companies, self-insured employers and health providers. The conference runs from October 8th through to October 11th 2023.
About Nemaura Medical, Inc.
Nemaura Medical Inc. is a medical technology company developing and commercialising non-invasive wearable diagnostic devices. The Company is currently also commercialising 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 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. Food and Drug Administration (the “FDA”). proBEAT™ combines non-invasive glucose data processed using artificial intelligence as part of a lifestyle program that is being refined for commercial launch.
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, 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 U.S., 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’s 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 its 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, as the same may be amended from time to time. Nemaura undertakes no obligation to publicly update or revise any forward-looking statements.
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