Nemaura Signs Letter of Intent 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, today announced that it has signed a non-binding letter of intent for an exclusive licensing agreement with Al-Danah Medical Co for the commercial launch of sugarBEAT® in Qatar.

As quoted in the press release:

A final binding license agreement between Nemaura and Al-Danah is scheduled for completion by November 16, 2018 in readiness for anticipated 2019 Qatar product launch.

Qatar has one of the world’s highest prevalence of diabetes, with 17% of the population diabetic and 23% pre-diabetic¹, and also has the world’s highest GDP per capita, and is therefore a significant potential market for sugarBEAT®. Al-Danah Medical Company, part of the Almana Group, is a leading medical product distributor in Qatar, representing multiple global brands.

CGM adoption is growing rapidly amongst diabetics, with the global total addressable market estimated at $82Bn annually. 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%.

Click here to read the full press release.