(MENAFN- Investor Brand Network) Nemaura (NASDAQ: NMRD) , developer of a daily wear non-invasive glucose sensor and digital health care programs, today announced the execution of a strategic agreement for a $10 million credit facility, which is expected to support the company's strategic growth plans. Nemaura recognizes the challenges associated with equity sales, particularly in the small-cap landscape on the Nasdaq, and has proactively pursued a funding strategy that minimizes dilution, which the Company believes aligns with the best interests of its valued shareholders. The $10 million credit facility, structured to be non-dilutive, empowers Nemaura to draw down a maximum of $1 million per month, providing a steady and controlled infusion of capital to support its commercialization initiatives.
To view the full press release, visit
About Nemaura Medical Inc.
Nemaura is a medical technology company developing and commercializing wearable diagnostic devices. The company is currently commercializing sugarBEAT(R) and proBEAT(TM). 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 Medical has submitted a proposal for a Modular Premarket Approval Application (“PMA”) for sugarBEAT(R) to the U.S. FDA, for its generation II, 24 hour sensor. proBEAT is a non-regulated version of sugarBEAT, which combines non-invasive glucose data processed using artificial intelligence and a digital health care subscription service as a general wellness product as part of its BEAT(R) diabetes program. Additionally, Nemaura 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 Medical believes that up to half the population could benefit from a sensor and program that monitors metabolic health and well-being. 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 about the company, visit
.
NOTE TO INVESTORS:
The latest news and updates relating to NMRD are available in the company's newsroom at
About InvestorWire
InvestorWire
(“IW”) is a specialized communications platform with a focus on advanced wire-grade press release syndication for private and public companies and the investment community. It is one of 60+ brands within
the
Dynamic Brand Portfolio
@
IBN
that delivers :
(1) access to a vast network of wire solutions via
InvestorWire
to efficiently and effectively reach a myriad of target markets, demographics and diverse industries ;
(2) article and
editorial syndication to 5,000+ outlets ;
(3) enhanced
press release enhancement
to ensure maximum impact ;
(4)
social media distribution
via IBN to millions of social media followers ;
and (5) a full array of tailored
corporate communications solutions . With broad reach and a seasoned team of contributing journalists and writers, IW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today's market, IW brings its clients unparalleled recognition and brand awareness. IW is where breaking news, insightful content and actionable information converge.
For more information, please visit
Please see full terms of use and disclaimers on the InvestorWire website applicable to all content provided by IW, wherever published or re-published:
InvestorWire
Los Angeles, CA
310.299.1717 Office
InvestorWire is powered by
IBN
MENAFN21112023000224011066ID1107466917
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.