Nemaura Medical Secures $6.5m in Non-Dilutive Funding

Nemaura Medical Raises $6.5 Million in Non-Dilutive Funding to Support Innovative Healthcare Solutions

Nemaura Medical, Inc. , a medical technology company focused on commercializing a daily disposable wearable glucose sensor and supporting personalized digital coaching programs, announces today that it has secured a further $6.5 million in non-dilutive funding though a clean debt facility with no warrants or convertible elements, from its existing lender.

Nemaura Medical Inc. is a medical technology company developing and commercialising non-invasive 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 US FDA. proBEAT combines non-invasive glucose data processed using artificial intelligence under a digital healthcare subscription service as part of its BEAT diabetes program.

In July 2023 Nemaura exhibited and undertook product demonstrations at the American Diabetes Association meeting in San Diego, the world’s largest gathering of Diabetes professionals, where it received very encouraging feedback from dialogue with attendees including corporates, Diabetes service providers and clinicians, which it continues to follow up on. The company is also currently undertaking studies with the NHS (National Health Service) in the UK with its metabolic health program designed for the consumer market targeting obesity and pre-diabetes whilst refining its commercial offering in this space. Nemaura also continues to support its UK licensee with its application for reimbursement of sugarBEAT in the UK.

Published on : 14th August, 2023