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Nemaura Medical Signs Letter Of Intent For Licensing Agreement With TPM For GCC Region



7/20/2017 11:08:42 AM

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LOUGHBOROUGH, England--(BUSINESS WIRE)--Nemaura Medical Inc. (OTCQB: NMRD), a medical technology company focused on the development and commercialization of sugarBEAT®, a wireless disposable adhesive skin-patch for adjunctive use by diabetics as a non-invasive and needle-free continuous glucose monitoring (CGM) system announced today it has signed a non-binding letter of intent with The Principals MENA DMCC (“TPM”) for an exclusive license to market and sell sugarBEAT® in the Gulf Co-operation Council region (“GCC Region”), which consists of Bahrain, Kuwait, Qatar, Saudi Arabia, Oman and United Arab Emirates.

“We look forward to finalizing the licensing agreement with TPM, who are a well-established market leader with the requisite market knowledge and client base to successfully commercialise sugarBEAT®.”

Dr. Faz Chowdhury, Chairman and CEO of Nemaura commented “We look forward to finalizing the licensing agreement with TPM, who are a well-established market leader with the requisite market knowledge and client base to successfully commercialise sugarBEAT®.”

The GCC Region has more than 35 million diabetics in total, with data from the International Diabetes Federation showing prevalence of the disease has reached 23.9% of the adult population in Saudi Arabia, 23.1% in Kuwait and 19.8% in Qatar, which is more than twice the global average of 8.3%.

About Nemaura Medical, Inc.

Nemaura Medical is a medical technology company developing the wireless sugarBEAT® disposable adhesive skin-patch as a non-invasive, needle-free, pain-free and affordable continuous glucose monitoring (CGM) system for adjunctive use by diabetics. For more information, please visit www.nemauramedical.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® CGM 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.

Contacts

Nemaura Medical
Bashir Timol
Director of Strategy & Corporate Development
bashir.timol@nemauramedical.com


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