Nemaura Medical Inc. is planning a registered public offering of its common stock and warrants.
The company plans to use the proceeds for a U.S. Food and Drug Administration clinical trial of its noninvasive glucose monitor sugarBEAT. Proceeds will also be used to launch the product in Europe and to develop a second generation of sugarBEAT.
Dawson James Securities Inc. is acting as the sole placement agent regarding the offering.
Further details, including the number of shares to be offered and financial information, were not disclosed in Nemaura's Dec. 17 press release.
Loughborough, U.K.-based Nemaura is a medical technology company that develops specialty medical devices.