LOUGHBOROUGH, England--(BUSINESS WIRE)--
Nemaura Medical Inc. (“Nemaura”) (NMRD), a medical technology company developing the wireless sugarBEAT® non-invasive continuous glucose monitoring system for adjunctive use by persons with diabetes, today announced that its shares of common stock were approved for listing on the NASDAQ Capital Market.
Trading on the NASDAQ Capital Market is expected to commence on January 25, 2018 under its existing trading symbol, NMRD.
Dr Faz Chowdhury, Chief Executive Officer, stated, “Our listing on NASDAQ is a major corporate milestone which builds upon the technical and clinical progress we have made over the past few years. The listing coincides with the successful completion of our European Clinical Program and will help broaden our shareholder base, improve liquidity, and provide increased visibility and greater exposure to the institutional investor community, ultimately contributing to increasing shareholder value.”
Nemaura completed its European Clinical Trials in December 2017 for its lead product sugarBEAT®, and is in the process of obtaining CE approval for product launch in the United Kingdom followed by multiple territories in Europe and the Middle East.
Nemaura has signed non-binding heads of terms with major organizations in Europe, Gulf Co-operation Council, and Australia, for which full commercial agreements are expected to be completed in the coming weeks. Additionally, Nemaura is in discussions with multiple groups for licensing and marketing rights in other key territories.
About Nemaura Medical, Inc.
Nemaura Medical Inc. (NMRD), is a medical technology company developing sugarBEAT® as a non-invasive, affordable and flexible glucose monitoring system for adjunctive use by persons with diabetes. SugarBEAT® consists of a disposable adhesive skin-patch connected to a rechargeable transmitter, with an app displaying glucose readings. For more information, please visit www.NemauraMedical.com and www.SugarBEAT.com.
Cautionary Statement Regarding Forward Looking Statements
The statements in this press release that are not historical facts, and may constitute forward-looking statements that are based on current expectations and are subject to risks and uncertainties that could cause actual future results to differ materially from those expressed or implied by such statements. Those risks and uncertainties include, but are not limited to, risks related to regulatory approvals and the success of Nemaura Medical’s ongoing studies, including the safety and efficacy of Nemaura Medical’s sugarBEAT® system, the failure of future development and preliminary marketing efforts, Nemaura Medical’s ability to secure additional commercial partnering arrangements, risks and uncertainties relating to Nemaura Medical and its partners’ ability to develop, market and sell sugarBEAT®, the availability of substantial additional equity or debt capital to support its research, development and product commercialization activities, and the success of its research, development, regulatory approval, marketing and distribution plans and strategies, including those plans and strategies related to sugarBEAT®. These and other risks and uncertainties are identified and described in more detail in Nemaura Medical’s filings with the Securities and Exchange Commission, including, without limitation, its Annual Report on Form 10-K for the current year, its Quarterly Reports on Form 10-Q, and its Current Reports on Form 8-K. Nemaura Medical undertakes no obligation to publicly update or revise any forward-looking statements.