The shipments are part of the first phase of Nemaura Medical’s rollout program for SugarBEAT following its recent CE mark approval in Europe
Nemaura Medical, a medical technology company focused on the commercialization of SugarBEAT as a non-invasive, affordable and flexible Continuous Glucose Monitor (CGM) for use by diabetics and pre-diabetics, today announced the first shipments of SugarBEAT to diabetic and pre-diabetic patients in the United Kingdom. These shipments are part of the first phase of Nemaura Medical’s rollout program for SugarBEAT following its recent CE mark approval in Europe.
Dr. Faz Chowdhury, CEO of Nemaura Medical, stated, “We are very pleased to have commenced the first phase of our commercial launch. This represents a major achievement for the Company as we transition from product development to a full-fledged commercial organization.”
Nemaura Medical will present data from its first users as part of several presentations planned at a symposium being held by the Company at the European Association for the Study of Diabetes (EASD) conference in Barcelona on September 19, 2019.
The Company further reports that its UK licensee has already registered more than 17,000 expressions of interest from potential users in the UK on its website product page. These potential users were registered prior to launch of the formal promotional campaign, thereby demonstrating the clinical need and further validating the commercial potential for SugarBEAT. The UK direct-to-consumer sales are expected to consist of highly competitive and flexible, subscription-based options, catering to a diverse group of end users, while the drug tariff listing process is also being evaluated.
SugarBEAT represents the world’s first non-invasive, needle-free, CGM and given that it does not puncture the skin to insert a sensor inside the skin, differentiating SugarBEAT from competing CGM technologies, we believe it opens the device up to a far larger population of potential users. Of particular note is that this will be the first CGM that may be worn on intermittent days, thus empowering the user in a way that no other CGM is currently able to. Specifically, the Company believes that it is uniquely positioned to target the Type 2 diabetes market, which represents approximately 90% of all diabetics, in addition to catering to the Type 1 and pre-diabetic markets.
In total, the global addressable market for CGM is estimated at $82 billion per year. Moreover, the Company plans to take full competitive advantage of the non-invasive nature of SugarBEAT and expand the applications to include health conscious individuals. Nemaura Medical is currently evaluating various collaboration opportunities to accelerate its time to market for the broader applications, which are estimated to address a total market of approximately $179 billion.
Source: Company Press Release