Nemaura uplists shares to NASDAQ exchange

Nemaura Medical (OTC:NMRD) said today that shares of its common stock were approved to list on the NASDAQ exchange.

The medtech company’s shares are slated to start trading on Jan. 25 under its existing symbol.

Nemaura, which is developing a wireless continuous glucose monitor, finished its clinical trial program in Europe late last year and is seeking CE Mark clearance for a product launch in the U.K.

“Our listing on NASDAQ is a major corporate milestone which builds upon the technical and clinical progress we have made over the past few years,” CEO Faz Chowdhury said in prepared remarks. “The listing coincides with the successful completion of our European clinical program and will help broaden our shareholder base, improve liquidity, and provide increased visibility and greater exposure to the institutional investor community, ultimately contributing to increasing shareholder value.”

The England-based company said it has inked commercial deals with groups in Europe and Australia, and is reportedly in talks with multiple groups for licensing and marketing rights in other territories.

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