Nemaura Medical is a medical technology company developing and commercializing non-invasive wearable diagnostic devices. The company is currently commercializing sugarBEAT® and proBEAT™. 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 PMA (Premarket Approval Application) for sugarBEAT® to the U.S. FDA. proBEAT™ combines non-invasive glucose data processed using artificial intelligence and a digital healthcare subscription service as a general wellness product as part of its BEAT®diabetes program that is currently undergoing pilot studies.
Additionally, Nemaura has launched a beta trial of Miboko, a 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.
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Creating Innovative Technologies to Help the 37 Million Americans Living Type 2 Diabetes
Value Proposition
Nemaura 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. Healthcare costs for persons with type 2 diabetes costs approx. 2.5x as much as a person without diabetes. Employers and healthcare insurers are therefore resorting to programs that will provide long-term sustainable results in stemming the onset of diabetes and, where possible, reversing type 2 diabetes. Nemaura’s solution, which has both a cost and user-friendliness advantage, addresses this increasing demand. CGMs currently have low adoption rates amongst insulin users (negligible use amongst non-insulin users) but is growing rapidly. The U.S. is the largest market with estimated 2.6% (630,000 users) penetration of diagnosed diabetic market (34.2M), representing annual growth of 117% over 2017 (290,000 users). Given sugarBEAT® is non-invasive, affordable, and flexible, it is expected to have wider appeal to non-insulin using diabetics, prediabetics and a section of insulin users who dislike competitor CGMs (Abbott, Dexcom and Senseonics) due to their invasiveness, higher cost and inflexibility.
Investment Highlights
sugarBEAT® commercially launched in UK; near-term European launch
CE approved in May 2019; manufacturer scale-up and commercial sales of sugarBEAT® in Germany and other parts of Europe planned
200K sensors ordered by UK licensee following soft launch success
PO forecast for approx. 100K sensors monthly over next two years
FDA PMA application submitted
Disrupting the multi-billion-dollar glucose trending and diabetes management space
sugarBEAT® is a flexible CGM which can be worn for a single day at a time, with no commitment to wear the device continuously for 10 -14 days as is the case with other CGMs, making it unlikely that the daily cost-of-use can be matched by competitors
sugarBEAT® empowers glucose trend data over the course of the day, with measurements recorded every 5 minutes; replaces point-in-time finger-stick measurements which provide every little and often misleading information
Attractive economics
Lowest COGS per CGM patch in the industry
Scalable, recurring high-margin revenue model
Upcoming R&D pipeline
Piloting Miboko – a mass-market consumer product applicable to 80+ million people in US with prediabetes as well as general health-conscious individuals and obesity market
Additional products in pipeline using BEAT platform, including non-invasive alcohol monitoring (CAM)
Proven and experienced management team
Company is headed by Dr. Faz Chowdhury, CEO - Sole inventor on 100+ granted and pending patents across 15+tech platforms within the medical device and pharma sectors, and continues to recruit industry veterans to support commercialization
Creating Innovative Technologies to Help the 37 Million Americans Living Type 2 Diabetes
Value Proposition
Nemaura 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. Healthcare costs for persons with type 2 diabetes costs approx. 2.5x as much as a person without diabetes. Employers and healthcare insurers are therefore resorting to programs that will provide long-term sustainable results in stemming the onset of diabetes and, where possible, reversing type 2 diabetes. Nemaura’s solution, which has both a cost and user-friendliness advantage, addresses this increasing demand. CGMs currently have low adoption rates amongst insulin users (negligible use amongst non-insulin users) but is growing rapidly. The U.S. is the largest market with estimated 2.6% (630,000 users) penetration of diagnosed diabetic market (34.2M), representing annual growth of 117% over 2017 (290,000 users). Given sugarBEAT® is non-invasive, affordable, and flexible, it is expected to have wider appeal to non-insulin using diabetics, prediabetics and a section of insulin users who dislike competitor CGMs (Abbott, Dexcom and Senseonics) due to their invasiveness, higher cost and inflexibility.
Investment Highlights
sugarBEAT® commercially launched in UK; near-term European launch
CE approved in May 2019; manufacturer scale-up and commercial sales of sugarBEAT® in Germany and other parts of Europe planned
200K sensors ordered by UK licensee following soft launch success
PO forecast for approx. 100K sensors monthly over next two years
FDA PMA application submitted
Disrupting the multi-billion-dollar glucose trending and diabetes management space
sugarBEAT® is a flexible CGM which can be worn for a single day at a time, with no commitment to wear the device continuously for 10 -14 days as is the case with other CGMs, making it unlikely that the daily cost-of-use can be matched by competitors
sugarBEAT® empowers glucose trend data over the course of the day, with measurements recorded every 5 minutes; replaces point-in-time finger-stick measurements which provide every little and often misleading information
Attractive economics
Lowest COGS per CGM patch in the industry
Scalable, recurring high-margin revenue model
Upcoming R&D pipeline
Piloting Miboko – a mass-market consumer product applicable to 80+ million people in US with prediabetes as well as general health-conscious individuals and obesity market
Additional products in pipeline using BEAT platform, including non-invasive alcohol monitoring (CAM)
Proven and experienced management team
Company is headed by Dr. Faz Chowdhury, CEO - Sole inventor on 100+ granted and pending patents across 15+tech platforms within the medical device and pharma sectors, and continues to recruit industry veterans to support commercialization
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Nemaura Medical (NMRD) is a client of RedChip Companies. NMRD agreed to pay RedChip a monthly cash fee of $6,000 and 15,000 shares of Rule 144 stock for three months of investor awareness services.
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