Nemaura Medical (NSDQ:NMRD) said today that it placed an initial order to its UK-based contract manufacturer for 12,500 rechargeable transmitters, designed as part of the company’s sugarBeat glucose monitoring systems.
Nemaura is readying for the commercial launch of its sugarBeat glucose monitor, pending CE Mark approval in the European Union. The device consists of a disposable, adhesive patch that connects to a transmitter and sends glucose data to a mobile app every five minutes.
“We expect this initial order will support the successful launch of sugarBeat in the UK later this year, and also develop the capacities needed for subsequent scale up and launch in other countries which accept the CE Mark,” chairman & CEO Faz Chowdhury said in prepared remarks.
NMRD shares were up 13% today, trading at $2.52 apiece when the markets closed.
In January, Nemaura touted positive data from the European clinical trial program for its non-invasive sugarBeat system.
The summary results were taken from a 25-patient group in the three-stage trial, made up of 80% Type I diabetics and 20% Type II diabetics. Each patient continuously wore the sugarBeat device for 14 hours across seven consecutive days.
Researchers compared the participants’ blood glucose levels as measured by Nemaura’s sugarBeat device with glucose concentrations from a laboratory blood glucose analyzer.
The data showed an overall mean absolute relative difference, or MARD, of 13.8% over a broad range of glucose levels. The company noted that up to 70% of the data from the study paired between sugarBeat and the venous blood glucose concentration had an average MARD of 10.3%.
No serious or major device-related adverse events were reported during the trial, Nemaura reported.
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