Financial business

NMRD) publishes a financial and commercial report for the second quarter of 2022

Nemaura Medical (NASDAQ: NMRD), a medical technology company focused on the development and commercialization of portable, non-invasive diagnostic devices and support for personalized lifestyle coaching programs, has released its financial and business updates for the second quarter of the fiscal year 2022, the period ending September 30, 2021. Notable highlights include the launch of Miboko, the company’s consumer metabolic health beta program and the signing of a global commercial contract with MySugarWatch DuoPack Limited (“MSW-DP “). In addition, the company has appointed Dr Osama Hamdy, MD and PhD., As a new consultant within its advisory board as a consultant. Regarding the financial report, the company said total operating expenses estimated at $ 1.7 million, cash equivalents of about $ 26.8 million and the submission to its UK licensee a first “deposit invoice” of $ 513,000 in partial payment of the order received for 200,000 sensors. and associated devices. “We continue to make progress in our marketing efforts for sugarBEAT (R) in the UK and recognizing our licensee’s income, ”Nemaura Medical CEO Dr Faz Chowdhury said in the press release. “We are also working closely with advisors to expand our presence globally to address the global diabetes health crisis by using our skin-mounted needle-free CGM as an innovative solution for patients and consumers. Combined with our digital lifestyle management programs, we believe our technology offering has the potential to be a key tool for the prevention and management of type 2 diabetes. ”

To view the full press release, visit https://ibn.fm/oadyF

About Nemaura Médical inc.

Nemaura Medical is a medical technology company that develops and markets portable, non-invasive diagnostic devices. The company currently markets sugarBEAT (R) and proBEAT (TM). sugarBEAT, a CE Mark approved Class IIb medical device, is a non-invasive and flexible Continuous Glucose Monitor (“CGM”) that provides actionable information derived from real-time blood glucose readings and daily trend data blood sugar levels, which can help people with diabetes and prediabetes to better manage, reverse and prevent the onset of diabetes. Nemaura has submitted a pre-market approval (“PMA”) request for sugarBEAT to the United States Food and Drug Administration (“FDA”). proBEAT combines non-invasive glucose data processed using artificial intelligence and a digital healthcare subscription service and was launched in the United States as a general wellness product in the part of NMRD’s BEAT diabetes program. Nemaura sits at the intersection of the global type 2 diabetes market expected to reach nearly $ 59 billion by 2025, the prediabetics market of over $ 50 billion, and the wearable health technology industry for weight loss and wellness apps which is expected to reach $ 60. billion by 2023. For more information about the company, visit www.NemauraMedical.com.

NOTICE TO INVESTORS: The latest news and updates related to NMRD can be found in the company newsroom at https://ibn.fm/NMRD

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