Nemaura Medical Inc (NASDAQ:NMRD) on Thursday provided an update about the commercial launch in Europe of its flagship SugarBEAT continuous glucose monitor (CGM) and feedback from its first patient-user experiences at a recent diabetes conference in Barcelona, Spain.
In a statement, the company noted that at the 55th Annual Meeting of the European Association for the Study of Diabetes last month, its CEO Dr Faz Chowdhury discussed key milestones in the development and plans for the commercial rollout program for SugarBEAT in the UK, Ireland, Germany and other key European markets following its approval in the EU.
“With our current scale of manufacturing in United Kingdom and the first shipments of SugarBEAT CGM devices to diabetic and pre-diabetic patients, we believe we are well-positioned to move aggressively into the commercial phase of our strategy in Europe,” Chowdhury said.
“We have established strategic partnerships in the United Kingdom and Ireland to commence sales and distribution, and are diligently working with our partners to develop the launch plan and various subscription options,” he added.
Chowdhury also commented on the positive first-user experiences at the conference:
"Importantly, as a daily disposable adhesive skin-patch that sits on the surface of the skin, SugarBEAT is painless, and versatile in terms of wear time. Given these benefits, we look forward to aggressively entering the underserved markets for both Type 2 diabetics and pre-diabetics, which are estimated at $80 billion per year,” he said.
At the conference, Dr Fred Schaebsdau, vice president of strategic alliances at Nemaura, also highlighted the key competitive advantages of SugarBEAT over current invasive CGM technologies.
He said SugarBEAT represents the world’s first non-invasive, safe, needle-free, CGM as it does not puncture the skin to insert a sensor and allows users the freedom to decide when and for how long to wear the patch.
Schaebsdau also discussed the positive first-user experiences indicating that SugarBEAT can be an effective tool for early diagnosis of type 2 diabetes.
Dr Iain Cranston, a diabetes specialist based in the UK at Portsmouth Hospital NHS Trust, presented prior clinical data confirming that SugarBEAT is uniquely positioned to target the Type 2 diabetes and pre-diabetic markets, as well as health-conscious individuals that can expect early benefits with the treatment by adopting self-management programs.
The stock of the Loughborough, England-based company recently traded up 6% to $0.80 a share in New York.
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