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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act 1934
Date of Report (Date of earliest event
reported): August 11, 2023
NEMAURA MEDICAL INC.
(Exact name of registrant as specified in charter)
Nevada
(State or other jurisdiction of incorporation)
001-38355 |
|
46-5027260 |
(Commission File Number) |
|
(IRS Employer Identification No.) |
57 West 57th Street
Manhattan, NY |
10019 |
(Address of principal executive offices) |
(Zip Code) |
|
|
|
Registrant’s telephone number, including area code: |
+1 (646) 416-8000 |
N/A
(Former name or former
address, if changed since last report) |
|
|
|
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12(b) under the Exchange
Act (17 CFR 240.14a-12(b))
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under
the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under
the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered |
Common Stock |
NMRD |
The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant is an emerging growth company
as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR
§240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant
to Section 13(a) of the Exchange Act. ☐
Item 7.01. Regulation
FD Disclosure.
On August 11, 2023, Nemaura
Medical Inc. (the “Company”) issued a press release announcing that it has secured $6.5 million in non-dilutive funding through
a clean debt facility, with no warrants or convertible elements, from its existing lender, and providing certain business updates. A copy
of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein.
The information included
in this Item 7.01, including Exhibit 99.1, shall not be deemed to be “filed” for purposes of Section 18 of the Securities
Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall
such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act,
except as shall be expressly set forth by specific reference in such a filing. The information set forth under this Item 7.01 shall not
be deemed an admission as to the materiality of any information in this Current Report on Form 8-K that is required to be disclosed solely
to satisfy the requirements of Regulation FD.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
SIGNATURE
Pursuant to the requirements of
the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
|
NEMAURA MEDICAL INC. |
|
|
|
By: |
/s/ Dewan F.H. Chowdhury |
|
|
Dewan F.H. Chowdhury Chief Executive Officer |
Date:
August 11, 2023
Exhibit 99.1
Nemaura
Medical Secures $6.5m in Non-Dilutive Funding
Loughborough,
England, August 11, 2023 (GLOBE NEWSWIRE) -- Nemaura Medical, Inc. (Nasdaq: NMRD), a medical
technology company focused on commercializing a daily disposable wearable glucose sensor and supporting personalized digital coaching
programs, announces today that it has secured a further $6.5 million in non-dilutive funding though a clean debt facility with no warrants
or convertible elements, from its existing lender.
In
July 2023 Nemaura exhibited and undertook product demonstrations at the American Diabetes Association meeting in San Diego, the world’s
largest gathering of Diabetes professionals, where it received very encouraging feedback from dialogue with attendees including corporates,
Diabetes service providers and clinicians, which it continues to follow up on. The company is also currently undertaking studies with
the NHS (National Health Service) in the UK with its metabolic health program designed for the consumer market targeting obesity and pre-diabetes
whilst refining its commercial offering in this space. Nemaura also continues to support its UK licensee with its application for reimbursement
of sugarBEAT® in the UK.
About Nemaura Medical, Inc.
Nemaura Medical Inc. is a medical technology
company developing and commercialising non-invasive wearable diagnostic devices. The Company is currently also commercialising sugarBEAT®
and proBEAT™. sugarBEAT®, a CE mark approved Class IIb medical device, as a non-invasive and flexible
continuous glucose monitor (CGM) providing actionable insights derived from real time glucose measurements and daily glucose trend data,
which may help people with diabetes and prediabetes to better manage, reverse, and prevent the onset of diabetes. Nemaura has submitted
a PMA (Premarket Approval Application) for sugarBEAT® to the US FDA. proBEAT™ combines non-invasive glucose
data processed using artificial intelligence under a digital healthcare subscription service as part of its BEAT® diabetes
program.
The Company sits at the intersection of the
global Type 2 diabetes market that is expected to reach nearly $59 billion by 2025, the $50+ billion pre-diabetic market, and the wearable
health-tech sector for weight loss and wellness applications that is estimated to reach $60 billion by 2023.
For more information, please visit www.NemauraMedical.com
Cautionary Statement Regarding Forward-Looking Statements:
The statements in this press release that are not
historical facts may constitute forward-looking statements that are based on current expectations and are subject to risks and uncertainties
that could cause actual future results to differ materially from those expressed or implied by such statements. Those risks and uncertainties
include, but are not limited to, the launch of proBEAT™ in the U.S., risks related to regulatory status and the failure
of future development and preliminary marketing efforts, Nemaura’s ability to secure additional commercial partnering arrangements,
risks and uncertainties relating to Nemaura’s and its partners’ ability to develop, market and sell proBEAT™,
the availability of substantial additional equity or debt capital to support its research, development and product commercialization activities,
and the success of its research, development, regulatory approval, marketing and distribution plans and strategies, including those plans
and strategies related to both proBEAT™ digital health, and sugarBEAT®. There can be no assurance that
the Company will be able to reach a part of or any of the global market for CGM with its products/services. The U.S. Food and Drug Administration
(the “FDA”) reserves the right to re-evaluate its decision that proBEAT™ qualifies as a general wellness
product should it become aware of any issues such as skin irritation or other adverse events from the device, as well as any misuse impacting
patient safety, and any other reason as the FDA may see fit at its discretion to determine the product does not fit the definition of
a general wellness product. These and other risks and uncertainties are identified and described in more detail in Nemaura’s filings
with the United States Securities and Exchange Commission, including, without limitation, its Annual Report on Form 10-K for the most
recently completed fiscal year, its Quarterly Reports on Form 10-Q, and its Current Reports on Form 8-K. Nemaura undertakes no obligation
to publicly update or revise any forward-looking statements.
Contact:
IR@NemauraMedical.Com
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