LOUGHBOROUGH, Sept. 14, 2023 (GLOBE NEWSWIRE) — Nemaura Medical, Inc.(Nasdaq: NMRD) (“Nemaura” or the “Firm”), a medical know-how firm centered on growing and commercialising non-invasive wearable diagnostic gadgets and supporting personalised way of life teaching applications, as we speak supplied an replace relating to the standing of its compliance with Nasdaq continued listed requirements and anticipated subsequent steps to keep up its itemizing on The Nasdaq Capital Market.

As beforehand disclosed by the Firm, the Nasdaq Itemizing {Qualifications} Employees (the “Employees”) notified the Firm by letters dated April 3, 2023, and April 7, 2023, that the Firm not happy the minimal market worth of listed securities and bid value necessities for continued itemizing on The Nasdaq Capital Market and, accordingly, granted the Firm 180-day grace durations to regain compliance with these necessities, by October 2, 2023, and October 3, 2023, respectively.

The Firm at present doesn’t anticipate to regain compliance with the above-referenced Nasdaq itemizing standards previous to the expiration of the relevant grace durations and, as such, anticipates receipt of a delisting willpower from the Employees promptly following the expiration of the grace durations. Importantly, nonetheless, upon receipt of such willpower, the Firm could request a listening to earlier than a Nasdaq Hearings Panel (the “Panel”) to deal with the itemizing deficiencies, which request will keep any suspension or delisting motion by Nasdaq no less than till a listening to is held and any extension that could be granted by the Panel to the Firm following the listening to has expired. In that regard, pursuant to the Nasdaq Itemizing Guidelines, the Panel has the discretion to grant the Firm a further extension interval to not exceed 180 calendar days from the date of the forthcoming delist willpower. The Firm plans to well timed request such listening to and is contemplating all choices out there to it to regain compliance and preserve its itemizing on The Nasdaq Capital Market.

Dr Faz Chowdhury, the Firm’s Chief Govt Officer, commented, “We’re hopeful that there might be a optimistic final result from a listening to earlier than the Panel. Within the meantime, we proceed to concentrate on our enterprise, together with a deliberate product launch in Saudi Arabia following the SFDA (Saudi Arabia Meals and Drug Authority) approval, and the anticipated industrial deployment of our shopper well being providing following encouraging outcomes from our trials with the UK NHS (Nationwide Well being Service).”

However the foregoing, there might be no assurance that the Panel will grant the Firm a further extension interval or that the Firm will in the end have the ability to regain and thereafter maintain compliance with all relevant continued itemizing necessities for The Nasdaq Capital Market.

About Nemaura Medical, Inc.

Nemaura Medical Inc. is a medical know-how firm growing and commercialising non-invasive wearable diagnostic gadgets. The Firm is at present additionally commercialising sugarBEAT^® and proBEAT^™. sugarBEAT^®, a CE mark accredited Class IIb medical gadget, is a non-invasive and versatile steady glucose monitor (CGM) offering actionable insights derived from actual time glucose measurements and every day glucose pattern information, which can assist individuals with diabetes and prediabetes to higher handle, reverse, and stop the onset of diabetes. Nemaura has submitted a PMA (Premarket Approval Utility) for sugarBEAT^® to the U.S. Meals and Drug Administration (the “FDA”). proBEAT^™ combines non-invasive glucose information processed utilizing synthetic intelligence as a part of a way of life program that’s being refined for industrial launch.

The Firm sits on the intersection of the worldwide Kind 2 diabetes market that’s anticipated to succeed in practically $59 billion by 2025, the $50+ billion pre-diabetic market, and the wearable health-tech sector for weight reduction and wellness purposes that’s estimated to succeed in $60 billion by 2023.

For extra info, please go to www.NemauraMedical.com.

Cautionary Assertion Relating to Ahead-Wanting Statements:

The statements on this press launch that aren’t historic details could represent forward-looking statements which might be based mostly on present expectations and are topic to dangers and uncertainties that would trigger precise future outcomes to vary materially from these expressed or implied by such statements. These dangers and uncertainties embrace, however should not restricted to, the launch of proBEAT^™ within the U.S., dangers associated to regulatory standing and the failure of future improvement and preliminary advertising and marketing efforts, Nemaura’s potential to safe extra industrial partnering preparations, dangers and uncertainties regarding Nemaura’s and its companions’ potential to develop, market and promote proBEAT^™, the provision of considerable extra fairness or debt capital to help its analysis, improvement and product commercialization actions, and the success of its analysis, improvement, regulatory approval, advertising and marketing and distribution plans and techniques, together with these plans and techniques associated to each proBEAT^™ digital well being, and sugarBEAT^®. There might be no assurance that the Firm will have the ability to attain part of or any of the worldwide marketplace for CGM with its merchandise/providers. The FDA reserves the suitable to re-evaluate its choice that proBEAT^™ qualifies as a common wellness product ought to it turn out to be conscious of any points equivalent to pores and skin irritation or different antagonistic occasions from the gadget, in addition to any misuse impacting affected person security, and some other cause because the FDA may even see match at its discretion to find out the product doesn’t match the definition of a common wellness product. These and different dangers and uncertainties are recognized and described in additional element in Nemaura’s filings with the US Securities and Alternate Fee, together with, with out limitation, its Annual Report on Type 10-Okay for essentially the most lately accomplished fiscal yr, its Quarterly Stories on Type 10-Q, and its Present Stories on Type 8-Okay, as the identical could also be amended every so often. Nemaura undertakes no obligation to publicly replace or revise any forward-looking statements.

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