UK-based medical technology company Nemaura Medical has obtained an additional $6.5m in non-dilutive funding from its existing lender.
This funding was acquired through a clean debt facility with no attached warrants or convertible elements.
Last month, Nemaura showcased its products and conducted demonstrations at the American Diabetes Association conference in San Diego.
The company claims to have received positive feedback from discussions with attendees, including corporate representatives, diabetes service providers and clinicians.
Nemaura is presently conducting research alongside the UK’s National Health Service (NHS), focusing on its metabolic health programme targeting the consumer market.
This programme aims to address obesity and pre-diabetes concerns while also enhancing its business offerings in this field.
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Furthermore, the company is supporting its UK licensee in seeking reimbursement approval for sugarBEAT in the UK.
sugarBEAT holds CE mark approval as a Class IIb medical device. Functioning as a non-intrusive continuous glucose monitor, it delivers insights by constantly measuring glucose levels and analysing daily trends.
These insights can be beneficial for individuals dealing with diabetes and prediabetes, aiding them in enhancing diabetes management, potentially reversing its effects and preventing its development.
Nemaura has submitted a premarket approval application for sugarBEAT to the US FDA.
Additionally, the company is commercialising proBEAT as part of its BEAT diabetes programme. This service integrates non-invasive glucose data, processed through artificial intelligence, into a digital healthcare subscription offering.
In April 2020, Nemaura secured a 24-month, $5m non-convertible loan and it received $5m in non-dilutive funding via a clean debt facility with no warrants or convertible elements in May 2023.
Nemaura is focused on developing and commercialising non-invasive wearable diagnostic devices.