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Nemaura Signs Letter of Intent for Licensing Agreement with TPM for GCC Region
Nemaura Signs Letter of Intent for Licensing Agreement with TPM for GCC Region.
About this update from Nemaura Medical, Inc.
[{"type":"text","content":"\n \n Nemaura Medical Inc. (OTCQB: NMRD), a medical technology company focused \n on the development and commercialization of sugarBEAT®, a wireless \n disposable adhesive skin-patch for adjunctive use by diabetics as a \n non-invasive and needle-free continuous glucose monitoring (CGM) system \n announced today it has signed a non-binding letter of intent with The \n Principals MENA DMCC (“TPM”) for an exclusive license to market and sell \n sugarBEAT® in the Gulf Co-operation Council region (“GCC Region”), which \n consists of Bahrain, Kuwait, Qatar, Saudi Arabia, Oman and United Arab \n Emirates.\n \n \n Dr. Faz Chowdhury, Chairman and CEO of Nemaura commented “We look \n forward to finalizing the licensing agreement with TPM, who are a \n well-established market leader with the requisite market knowledge and \n client base to successfully commercialise sugarBEAT®.”\n \n \n The GCC Region has more than 35 million diabetics in total, with data \n from the International Diabetes Federation showing prevalence of the \n disease has reached 23.9% of the adult population in Saudi Arabia, 23.1% \n in Kuwait and 19.8% in Qatar, which is more than twice the global \n average of 8.3%.\n \n \n About Nemaura Medical, Inc.\n \n \n Nemaura Medical is a medical technology company developing the wireless \n sugarBEAT® disposable adhesive skin-patch as a non-invasive, \n needle-free, pain-free and affordable continuous glucose monitoring \n (CGM) system for adjunctive use by diabetics. For more information, \n please visit www.nemauramedical.com.\n \n \n Cautionary Statement Regarding Forward Looking Statements\n \n \n The statements in this press release that are not historical facts, and \n may constitute forward-looking statements that are based on current \n expectations and are subject to risks and uncertainties that could cause \n actual future results to differ materially from those expressed or \n implied by such statements. Those risks and uncertainties include, but \n are not limited to, risks related to regulatory approvals and the \n success of Nemaura Medical’s ongoing studies, including the safety and \n efficacy of Nemaura Medical’s sugarBEAT® CGM system, the failure of \n future development and preliminary marketing efforts, Nemaura Medical’s \n abi...