Medical technology company Nemaura Medical Inc. (NMRD:NASDAQ), a developer and manufacturer of wearable micro-systems-based diagnostic devices including its flexible continuous glucose monitor ("CGM") sugarBEAT®, together with BEAT®diabetes, a planned health subscription service designed to help people with Type 2 diabetes and prediabetes through personalized lifestyle coaching, yesterday, announced that "it is planning to initiate a user study comparing sugarBEAT® directly against a highly successful major incumbent CGM sensor." The company noted that its goal is to position sugarBEAT as a non-invasive, cost-effective alternative and complementary device to other expensive and invasive CGMs.
The company's CEO Dr. Faz Chowdhury commented, "Our decision to go head-to-head vs. a hugely successful CGM sensor was based on positive feedback we received from recent meetings with public health insurers in key territories in Europe...We believe that most people with diabetes do not currently use any continuous glucose monitoring system due to the high costs and the invasiveness of current products. We believe that sugarBEAT® changes this paradigm and is the first non-invasive CGM to provide the masses an option for daily monitoring whenever they choose at an affordable price point...We believe that sugarBEAT®'s flexibility empowers users with very powerful trend data at a lower cost compared to current CGM's, which we believe will encourage broad adoption of the system".
The company advised that "several studies are planned over the course of this year designed to demonstrate the effectiveness of sugarBEAT® to increase Time-In-Range, thus reducing HbA1C with intermittent (non-consecutive days) use over a few days per week or even month."
The sugarBEAT device is worn during waking hours and consists of a daily disposable adhesive skin-patch that is connected to a rechargeable transmitter and works with an app that displays glucose readings at five-minute intervals.
The firm stated that it initiated phase one of the commercial launch of sugarBEAT in the U.K. after it received CE Mark approval in 2019. This approval designation is the manufacturer's declaration that the product meets EU standards for health, safety and environmental protection. During the initial phase, devices were supplied to only a small group of users while the company focused its efforts on ramping up production. The company advised that DB Ethitronix, the U.K. licensee of sugarBEAT, is currently finalizing the launch of online sales of sugarBEAT.
Nemaura is a medical technology firm developing non-invasive and minimally invasive wearable diagnostic devices, coupled with artificial intelligence capabilities for digital healthcare. The firm is also presently engaged in "commercializing BEAT®diabetes, a health subscription service designed to help people with diabetes and prediabetes better manage diabetes and reverse Type 2 diabetes or prevent diabetes through 1-on-1 lifestyle coaching and behavior driven by real time continuous glucose monitoring (CGM) and daily glucose trend data provided by sugarBEAT®, a non-invasive and flexible CGM."
Nemaura started the day with a market capitalization of around $120.7 million with approximately 20.81 million shares outstanding. NMRD shares opened nearly 38% higher today at $8.00 (+$2.20, +37.93%) over yesterday's $5.80 closing price. The stock has traded today between $6.66 and $10.40 per share and at present is trading at $7.40 (+$1.60, +27.59%).
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