Nemaura Medical (NMRD) Announces $5M Non-Dilutive Funding

Nemaura Medical, Inc. (Nasdaq: NMRD) announces today that it has secured $5 million in non-dilutive funding though a clean debt facility with no warrants or convertible elements. As part of the current financing, existing debt repayments have been deferred for nine months.

“Given the current market conditions we believe that a loan of this type with no additional dilutive terms is a testament to Nemaura’s future potential. Equally as important, it ensures we have ample cash to execute on our ambitious plans,” commented Faz Chowdhury, Nemaura’s CEO.

As of the end of March 2022, Nemaura had a cash position of $17.7 million, with current cash burn rate from business operations of approximately $1.65 million per quarter or $550,000 per month.

During the coming six months, the Company expects commercialization to ramp up, as well as to initiate multiple large-scale partnerships, to be announced as they occur. In the meantime, Nemaura began generating revenues late in 2021, and anticipates further purchase orders in the near term, thereby expanding its sales territories. In addition over the coming months the Company expects to commence generating revenues from its metabolic health program, Miboko, which utilizes its non-invasive glucose sensor along with an AI mobile application that helps users better manage diet and lifestyle habits, which received strong traction following its beta launch.

Nemaura plans to present at the H.C. Wainwright Global Hybrid Investment Conference, with its presentation being available beginning at 7:00 AM ET on May 23, 2022. Those interested in participating may register for the conference virtually here.

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