The Loughborough, England-based company said its debt facility features no warrants or convertible elements. It comes from the company’s existing lender.
Nemaura Medical did not list an intended use for the added funds. The company develops daily, non-invasive, disposable, wearable glucose sensors. It also offers digital diabetes management tools and earlier this year added CGM-guided insulin dose titration to its offerings.
The company also has an ongoing study demonstrating weight loss in 100% of participants so far for users of its technology. It expects the data to support reimbursement applications and product marketing in a number of territories.
Additionally, Nemaura has development underway for a metabolic health platform and potential deployment as a bolt-on service to existing programs. It has a deal with contract manufacturer Benchmark Electronics to facilitate a future volume scale-up manufacture of its electric transmitter.
Nemaura also said it filed an application for the reimbursement of its sugarBEAT sensors in the UK recently.
