Nemaura Medical (NASDAQ: NMRD) is a medical technology company focused on commercializing a daily disposable wearable glucose sensor and supporting personalized digital coaching programs. The company today announced that it has secured $5 million in non-dilutive funding though a clean debt facility with no warrants or convertible elements. Under the current financing, existing debt repayments have been deferred for nine months. “Given the current market conditions, we believe that a loan of this type with no additional dilutive terms is a testament to Nemaura’s future potential,” the company’s CEO Faz Chowdhury said in the news release. “Equally as important, it ensures we have ample cash to execute on our ambitious plans.”
To view the full press release, visit https://ibn.fm/12wOB
About Nemaura Medical Inc.
Nemaura is a medical technology company developing and commercializing wearable diagnostic devices. The company is currently commercializing sugarBEAT(R) and proBEAT(TM). 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 has submitted a Premarket Approval Application (“PMA”) for sugarBEAT to the U.S. FDA. proBEAT combines non-invasive glucose data processed using artificial intelligence and a digital health care subscription service and has been launched in the U.S. as a general wellness product as part of its BEAT(R) diabetes program that is currently undergoing pilot studies. Additionally, Nemaura has launched Miboko, a new 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 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.
NOTE TO INVESTORS: The latest news and updates relating to NMRD are available in the company’s newsroom at https://ibn.fm/NMRD
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