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Nemaura Medical secures $6.5M in funding

August 14, 2023 By Sean Whooley

Nemaura ProBeat glucose monitor
The proBEAT glucose monitor. [Image from Nemaura Medical]
Nemaura Medical (Nasdaq:NMRD) announced that it brought in $6.5 million in non-dilutive funding through a clean debt facility.

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.

Filed Under: Business/Financial News, Diabetes, Drug-Device Combinations, Featured, Funding Roundup, Patient Monitoring, Technology Tagged With: Nemaura Medical

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About Sean Whooley

Sean Whooley is an associate editor who mainly produces work for MassDevice, Medical Design & Outsourcing and Drug Delivery Business News. He received a bachelor's degree in multiplatform journalism from the University of Maryland, College Park. You can connect with him on LinkedIn or email him at swhooley@wtwhmedia.com.

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