InvestorNewsBreaks – Nemaura Medical Inc. (NASDAQ: NMRD) Secures $10M Credit Facility to Drive Growth
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 https://ibn.fm/U1DM9
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 www.NemauraMedical.com.
NOTE TO INVESTORS: The latest news and updates relating to NMRD are available in the company’s newsroom at https://ibn.fm/NMRD
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