LOUGHBOROUGH, Nov. 29, 2022 (GLOBE NEWSWIRE) — Nemaura Medical, Inc. (Nasdaq: NMRD)(“Nemaura” or the “Company”), a medical technology company focused on developing and commercializing non-invasive wearable diagnostic devices and supporting personalized lifestyle and weight reduction programs, announces that it has commenced patient studies of its proprietary metabolic health program, Miboko, with the National Health Service (NHS) in the United Kingdom.
Miboko, is the first metabolic tracking program to integrate a non-invasive glucose sensor with a lifestyle app that includes recording of food and drink, educational content, and an analytics platform. The program gives the user a metabolic score based on diet, exercise, and the user’s individual glucose response to their food intake. Users are given personalized recommendations to help them reduce weight, avoid serious health issues, such as heart disease and diabetes, and enjoy a better quality of life.
The partnership with the UK’s NHS is through medical centers that partner with the NHS National Institute for Health and Care Research (NIHR) to gather information that helps change and save lives.
Miboko is expected to be available without prescription and is recommended for use by those wishing to lose weight. The program will be offered to employers and insurers, as well as direct to consumers. In the U.S. alone, the program will be relevant to over 80 million people with prediabetes as well as to people with obesity. Significantly, Miboko will also be used by people who wish to embark on a diet program, of which a significant number will have tried alternative diet plans. Miboko complements the BEATdiabetes program that is being commercialized for people with type 2 diabetes in the U.S. through strategic alliances, such as the one the Company announced previously with Eversana.
Dr. Faz Chowdhury, Nemaura Medical’s Chief Executive Officer, stated, “Use of glucose monitoring is becoming more widespread, not just in people with diabetes, but also with those who wish to use personalized data to aid in weight loss. Studies have shown that glucose response to diet and lifestyle habits can have a profound behavioral impact in helping people to modify their diet and exercise regimes. We are very excited, both with the response that we have had from participants and also the weight loss results that are being reported.”
About Nemaura Medical, Inc.
Nemaura Medical Inc. is a medical technology company developing and commercialising noninvasive wearable diagnostic devices. The company is currently also commercialising sugarBEAT® and proBEAT™. sugarBEAT®, a CE mark approved Class IIb medical device, as 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 prediabetes to better manage, reverse, and prevent the onset of diabetes. Nemaura has submitted a PMA (Premarket Approval Application) for sugarBEAT® to the U.S. FDA. proBEAT™ combines non-invasive glucose data processed using artificial intelligence under a digital healthcare subscription service that has been launched in the U.S. as a general wellness product as part of its BEAT® diabetes program that is currently undergoing pilot studies.
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. Nemaura Medical undertakes no obligation to publicly update or revise any forward-looking statements.
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