Nemaura Medical Secures CE Mark for SugarBEAT

Nemaura Medical (NMRD) has received CE Mark approval for its SugarBEAT product, allowing it to begin sales in the EU.

SugarBEAT is a daily disposable skin patch that works as a continuous glucose monitor, with the accompanying smartphone app displaying glucose readings every five minutes. The company plans to launch it in the UK and in Germany next quarter, and expects to submit the related US Food and Drug Administration application in the middle of the year.

Nemaura estimates a total $179 billion global market opportunity for SugarBEAT, targeting diabetics and pre-diabetics, as well as the wearable health tech market.

Nemaura’s stock was up 14% in Wednesday morning trading.

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