Nemaura Signs License and Distribution Agreement for SugarBEAT Commercial Launch in Qatar

Nemaura Medical (NASDAQ:NMRD), a medical technology company developing sugarBEAT as a non-invasive, affordable and flexible Continuous Glucose Monitor (CGM) for use by persons with diabetes and pre-diabetics, announced that it has signed an exclusive license and distribution agreement with Al-Danah Medical for the commercial launch of sugarBEAT in Qatar in readiness for 2019 launch.

As quoted in the press release:

Qatar, has one of the world’s highest prevalence of diabetes, with 17% of the population diabetic and 23% pre-diabetic(1), and also has the world’s highest GDP per capita, and therefore represents a significant market for sugarBEAT®. Al-Danah Medical Company, part of the Almana Group, is a leading medical product distributor in Qatar, representing multiple global brands.

Current global CGM usage rates are low and growing rapidly. The U.S. is the largest single market, where CGM is being used by an estimated 2.6% (630,000 users) of all diagnosed diabetics in 2018, representing annualised growth of 117%. SugarBEAT® is expected to receive CE Mark approval shortly and launch next month in the United Kingdom, an addresable market for CGM estimated at $1.38B per annum. The global addressable market for CGM is estimated at $82B per annum.(2)

Click here to read the full press release.