CHICAGO and LOUGHBOROUGH, Sept. 27, 2022 (GLOBE NEWSWIRE) — Nemaura Medical, Inc.(NASDAQ: NMRD)(“Nemaura” or the “Company”), a medical technology company focused on developing and commercialising noninvasive wearable diagnostic devices and supporting personalized lifestyle coaching programs, today announces that it has entered into a preliminary agreement with EVERSANA®, a pioneer of next-generation commercial services to the global life sciences industry.
The agreement covers the U.S. and all global sales and marketing of Nemaura’s Diabetes Management Solution, BEATdiabetes. The BEATdiabetes program is based on Nemaura’s noninvasive glucose monitoring solution, proBEAT. Nemaura and EVERSANA will work together to develop the optimal launch strategy for large-scale adoption of the diabetes management program, including franchising and direct sales to self-insured corporate clients and healthcare insurers.
In early pilot trials conducted over the last 12 months, the BEATdiabetes program yielded overall positive outcomes, demonstrating that sustainable, long-term weight loss and, therefore, improvement in the management of Type 2 diabetes is achievable. Incumbents in the space have also demonstrated clinically significant outcomes when such diabetes management programs are used in conjunction with continuous glucose monitors. Nemaura, however, has the advantage of its own proprietary noninvasive sensor technology which significantly reduces sensor costs, as the sensors are only worn a few days each month.
EVERSANA is widely regarded as the leader in digital therapeutic commercialization. Across the life sciences industry, the fully integrated commercialization provider works with more than 670 organizations, including innovative start-ups and established pharmaceutical companies.
Dr. Faz Chowdhury, Nemaura Medical’s Chief Executive Officer, stated, “We are excited to be working with EVERSANA to bring our diabetes management solution to market. This is a culmination of several months of negotiations with EVERSANA following the encouraging outcome of the pilot studies. Diabetes management is an area of huge unmet need, and we anticipate that our solution will be very easy, simple to administer, and highly cost-effective, all elements supporting large-scale adoption.”
Jim Lang, Chief Executive Officer of EVERSANA, added, “Nemaura’s innovative programs and sensor technology potentially represent a major change in the way in which diabetes is addressed and how patients may be supported. We look forward to leveraging our full suite of commercialization services to support a successful U.S. launch.”
About Nemaura Medical, Inc.
Nemaura Medical Inc. is a medical technology company developing and commercialising noninvasive wearable diagnostic devices. The company is currently commercialising sugarBEAT® and proBEAT™. sugarBEAT®, a CE mark approved Class IIb medical device, is a noninvasive 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 noninvasive glucose data processed using artificial intelligence and 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.
EVERSANA™ is a leading independent provider of global services to the life sciences industry. The company’s integrated solutions are rooted in the patient experience and span all stages of the product life cycle to deliver long-term, sustainable value for patients, prescribers, channel partners, and payers. The company serves more than 670 organizations, including innovative start-ups and established pharmaceutical companies, to advance life sciences solutions for a healthier world. To learn more about EVERSANA, visit eversana.com or connect through LinkedIn and Twitter.
Director, Corporate Communications