Nemaura Medical Inc. Receives Positive Nasdaq Listing Decision
December 13 2023 - 8:00AM
Nemaura Medical Inc. (NASDAQ: NMRD) (“Nemaura Medical” or the
“Company”), developer of a daily wear non-invasive glucose sensor,
and digital healthcare programs is pleased to announce that the
Nasdaq Hearings Panel granted the Company’s request for continued
listing pursuant to an exception, including certain interim
milestones, that ultimately expires on April 1st, 2024, to evidence
compliance with all applicable criteria for continued listing on
The Nasdaq Capital Market.
The Company plans to continue with its
commercial endeavours while pursuing its plans to ensure timely
compliance with the terms of the Nasdaq Hearing Panel’s
decision.
About Nemaura Medical,
Inc.
Nemaura Medical, Inc. is a medical technology
company developing and wearable diagnostic devices. The company is
currently commercializing 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
pre-diabetes to better manage, reverse, and prevent the onset of
diabetes. Nemaura Medical has submitted a proposal for a Modular
PMA (Premarket Approval Application) application for
sugarBEAT® to the U.S. FDA, for its generation II, 24 hour
sensor. proBEAT™ is a non-regulated version of sugarBEAT which
combines non-invasive glucose data processed using artificial
intelligence and a digital healthcare subscription service as a
general wellness product as part of its BEAT®diabetes program.
Additionally, Nemaura Medical 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
Medical 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, 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 Medical’s ability to secure additional
commercial partnering arrangements, risks and uncertainties
relating to Nemaura Medical 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 U.S. Food and Drug Administration (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 Medical’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, each as may be
amended from time to time. Nemaura Medical undertakes no obligation
to publicly update or revise any forward-looking statements.
Investor Relations Contact:
IR@NemauraMedical.com
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