Artificial Intelligence
Nemaura Medical Reports Financial Results and Provides Business Update for the Fiscal Year Ended March 31, 2023
Loughborough, England, July 14, 2023 (GLOBE NEWSWIRE) — Nemaura Medical, Inc. (Nasdaq: NMRD) (“Nemaura” or the “Company”), a medical technology company focused on developing and commercializing a daily disposable, wearable glucose sensor and supporting personalized lifestyle coaching programs, today provides a business update and financial results for the fiscal year ended March 31, 2023.
Corporate Highlights:
“We continue to build momentum on both manufacturing activities and consumer feedback through pilot trials, in preparation for scaling up commercial sales activities. The trials with the NHS in the UK have demonstrated the commercial potential for our sensors and digital health and wellbeing programs and has allowed us to undertake continuous refinements prior to commercial scale-up initiatives. Similarly, we believe working with world-class contract manufacturers and advancing our manufacture scale-up, and ensuring a well-managed supply chain through forward planning will support our planned commercial endeavours”, commented Dr Faz Chowdhury, CEO of Nemaura medical. “During the new fiscal year our focus is on global partnerships and revenue ramp-up, leveraging off the progress we have made on the product refinement and feedback, and product manufacture”. |
FY2022 Financial Summary:
- Research and development expenses were consistent with the prior year at approximately $1.5 million.
- General and administrative expenses were $6,590,227 and $6,173,049 for the fiscal years ended March 31, 2023 and 2022, respectively. These expenses consisted of fees for legal, professional, consultancy, audit services, investor relations, insurance, advertising, and general and operational wages. The year-over-year increase in expenses were driven predominantly by increased wages, as the Company has increased headcount to support the operational scale-up process across both its UK and U.S. teams.
- Cash and cash equivalents at 31st March 2023 were approximately $10.1m
About Nemaura Medical, Inc.
Nemaura Medical, Inc. is a medical technology company developing and commercializing non-invasive wearable diagnostic devices. The company is currently commercializing sugarBEAT®and proBEAT™. sugarBEAT®, a CE mark approved Class IIb medical device, is 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 pre-diabetes to better manage, reverse, and prevent the onset of diabetes. Nemaura has submitted a PMA (Premarket Approval Application) for sugarBEAT® to the U.S. FDA. proBEAT™ combines non-invasive glucose data processed using artificial intelligence and a digital healthcare subscription service and has been launched in the U.S. as a general wellness product as part of its BEAT®diabetes program that is currently undergoing pilot studies.
Additionally, Nemaura has launched a beta trial of Miboko, a metabolic health and well-being program using a non-invasive glucose sensor along with an AI mobile application that helps a user understand how certain foods and lifestyle habits can impact one’s overall metabolic health and well-being. Nemaura believes that up to half the population could benefit from a sensor and program that monitors metabolic health and well-being.
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 Medical’s ability to secure additional commercial partnering arrangements, risks and uncertainties relating to Nemaura Medical 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 Medical’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 Medical undertakes no obligation to publicly update or revise any forward-looking statements.
Investor Relations Contact:
Consilio expands partnership and use of Nuix software for data processing and document review.
SYDNEY, May 23, 2024 /PRNewswire/ — Leading provider of investigative analytics and intelligence software, Nuix, announces an expanded partnership for the next seven years with Consilio, the global leader in legal technology solutions and enterprise legal services. The decade long business relationship has grown into a strategic partnership which will expand the use of Nuix software, where the companies will collaborate to address emerging needs of clients.
For Consilio, the partnership represents a commitment to integrating Nuix’s industry-leading data processing software within its eDiscovery services. It accelerates Consilio’s ability to stay ahead of their global clients’ needs in eDiscovery and document review, offering benefits of speed and accuracy.
“We are excited to engage in this strategic partnership with Nuix, which will enable us to leverage recent innovations from Nuix, enhance our technology and service excellence, and ultimately drive growth with new and existing clients,” said Andy Macdonald, CEO Consilio.
Nuix and Consilio are working together to address future customer requirements for data processing, enterprise automation, document review, and integrated professional services. Consilio becomes the first customer of Nuix Neo Enterprise, which includes Nuix Neo Data Privacy, Investigations and Legal solutions, paving the way for multiple joint offerings.
Jonathan Rubinsztein, Group CEO Nuix shares, “This partnership is an accelerator for Nuix Neo and a significant and strategic milestone for both organisations. We are proud to be partnering with Consilio in providing a step-change to its data processing and review capabilities with Nuix Neo and Nuix Discover. We are optimistic that jointly, we can service the increasingly complex needs of our customers through robust end-to-end solutions.”
About Nuix
Nuix Limited is a leading provider of investigative analytics and intelligence software, with the vision of “being a force for good by finding truth in a digital world”. Nuix helps customers to process, normalise, index, enrich and analyse data from a multitude of different sources, solving many of their complex data challenges. The Nuix platform supports a range of use cases, including criminal investigations, financial crime, litigation support, employee and insider investigations, legal eDiscovery, data protection and privacy, and data governance and regulatory compliance.
For further information, please visit investors.nuix.com
About Consilio:
Consilio stands as the global leader in eDiscovery, document review, flexible legal talent, and legal advisory & transformation consulting services. With its Consilio Complete suite of capabilities, the company empowers multinational law firms and corporations using innovative software, cost-effective managed services, and deep legal and regulatory industry expertise. Renowned for its expertise in litigation, HSR second requests, internal and regulatory investigations, eDiscovery, document review, information governance, compliance risk assessments, cybersecurity, law department management, and contracts management, Consilio also excels in legal staffing and recruitment through its Lawyers On Demand division. Consilio globally employs leading professionals in the industry, applying defensible workflows with patented and industry-proven technology across all phases of the eDiscovery and risk management lifecycle. ISOIEC 27001:2013 certified, the company operates offices, document review, and data centers across Europe, Asia, and North America. Discover more about Consilio’s commitment to legal excellence and innovation at www.consilio.com.
Logo – https://mma.prnewswire.com/media/2420512/Nuix_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/consilio-signs-multi-year-strategic-deal-with-nuix-302154218.html
Artificial Intelligence
Bugcrowd Acquires Informer to Enhance Offerings Across Attack Surface Management and Penetration Testing
Acquisition Aligns Seamlessly with Long-Term Goals and Objectives Centering Around Continual Innovation and Enhancement of the Bugcrowd AI-Powered Platform
SAN FRANCISCO, May 23, 2024 /PRNewswire/ — Bugcrowd, a leading provider of crowdsourced security, today announced it has acquired Informer, a leading provider of external attack surface management (ASM) and continuous penetration testing. This acquisition widens Bugcrowd’s innovation lead in providing crowdsourced security to customers of all sizes, and in all industries, delivered through a flexible, data- and AI-driven SaaS platform. By integrating Informer’s expertise and technologies into its portfolio, Bugcrowd will further accelerate its reach and capabilities to customers globally with even more advanced solutions to address their evolving needs for proactive security. Further terms of the transaction were not disclosed.
“I am excited to welcome Informer to the Bugcrowd team,” said Dave Gerry, CEO, Bugcrowd. “This marks the first acquisition following our $102 million fundraise and underscores our dedication to ongoing growth and innovation. Our mission is to develop a platform that anticipates and predicts cyber risks. By nurturing a trusted community built on the collective ingenuity of organizations, hackers, and security professionals, we aim to mitigate risk across all applications, systems, and infrastructure. We are committed to evolving both organically and through acquisition, and we will continue to deliver the best possible experience to our customers. I am confident that this addition to the Bugcrowd Team and platform will greatly benefit our customers, employees, and shareholders.”
ASM is a critical aspect of modern security-minded organizations’ overall cybersecurity strategy, involving the identifying, assessing, and continuous monitoring of potential vulnerabilities and threats that exist in an organization’s external-facing systems, applications, and networks. Founded in 2014, UK-based Informer’s scalable external ASM software harnesses the power of continuous asset discovery, and integrated expert penetration testing. The company provides security and IT leaders with business-critical security insights to monitor and reduce cyber risk. This new combination enables Bugcrowd to expand its footprint in the growing ASM market – $3.3 billion by 2029 at a (CAGR) of 29%.
“By joining forces with Bugcrowd, Informer’s exceptional team and innovation in Attack Surface Management and PTaaS will continue to disrupt the traditional penetration testing market, giving us a competitive edge in the crowdsourced security industry,” said Marios Kyriacou, CEO of Informer.
Informer automates the identification of the external attack surface from organizations and provides specialized penetration testing services to its clients. The company combines continuous asset discovery, and penetration testing in one platform, bringing together the power of machine learning and expert penetration testing in a single SaaS solution. Informer has built a strong external ASM platform that provides organizations with real-time visibility into their perimeter. The combination of the two platforms will enhance the value that customers receive from Bugcrowd by bringing best-of-breed asset discovery and monitoring to multiple use cases. Informer’s expert-led penetration testing capability and ASM platform will strongly complement Bugcrowd penetration testing services and its existing Attack Surface Management offering (Bugcrowd ASM Risk) powered by the hacker community.
“Informer’s ASM SaaS platform, and penetration testing capabilities will further enhance Bugcrowd’s AI-powered crowdsourced security platform,” said Tanya Gay, Chief Operating Officer at Bugcrowd. “Informer’s customers will continue to have access to Informer’s platform and products without service disruption. Our combined world-class portfolio of offerings will be fully integrated by Q3 and available globally to further support both of our customers’ continual threat and exposure management programs.”
Powered by the crowd, Bugcrowd unleashes the ingenuity of the global hacker community for proactive cybersecurity. The addition of Informer strengthens Bugcrowd’s ASM and penetration testing offerings with the integration of the Informer ASM platform into the Bugcrowd Platform, making the continuous threat exposure management vision real for customers. More information about Informer can be found here. To learn more about Bugcrowd, visit www.bugcrowd.com.
About Bugcrowd
We are Bugcrowd. Since 2012, we’ve been empowering organizations to take back control and stay ahead of threat actors by uniting the collective ingenuity and expertise of our customers and trusted alliance of elite hackers, with our patented data and AI-powered Security Knowledge Platform™. Our network of hackers brings diverse expertise to uncover hidden weaknesses, adapting swiftly to evolving threats, even against zero-day exploits. With unmatched scalability and adaptability, our data and AI-driven CrowdMatch™ technology in our platform finds the perfect talent for your unique fight. We are creating a new era of modern crowdsourced security that outpaces threat actors.
Unleash the ingenuity of the hacker community with Bugcrowd, visit www.bugcrowd.com. Read our blog.
“Bugcrowd”, “Informer”, and “Security Knowledge Platform” are trademarks of Bugcrowd Inc. and its subsidiaries. All other trademarks, trade names, service marks, and logos referenced herein belong to their respective companies.
ContactLumina Communications for [email protected]@luminapr.com
Logo – https://mma.prnewswire.com/media/1669466/Bugcrowd_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/bugcrowd-acquires-informer-to-enhance-offerings-across-attack-surface-management-and-penetration-testing-302154027.html
Artificial Intelligence
Precisely Empowers Generali Real Estate to Drive AI Innovation with Trusted Data
Precisely Points of Interest data helps fuel groundbreaking City Forward® technology, transforming real estate with artificial intelligence
BURLINGTON, Mass., May 23, 2024 /PRNewswire/ — Precisely, the global leader in data integrity, today announced that Generali Real Estate, one of the world’s leading real estate asset managers, relies on Precisely for its unparalleled data enrichment expertise. Precisely Points of Interest (POI) data helps Generali Real Estate unlock greater context from location data and fuel artificial intelligence (AI) advancements transforming the real estate market.
When Generali Real Estate became one of the first real estate asset managers to establish a dedicated division for AI and machine learning (ML) innovation, its first task was to disrupt the traditional decision-making processes that usually inform precise investment strategies. Standard real estate metrics often do not reveal the reason for significant variances in the value of different assets, even when very similar assets are located only within a few streets of each other. In fact, the team discovered that as much as 60% change in value, observed over a seven-year period, could not be explained without additional data inputs.
To address these challenges, Generali Real Estate developed City Forward®, an innovative cloud-based location intelligence platform for real estate investment managers to make smarter decisions powered by highly accurate AI-driven insights. To achieve this at scale throughout Europe required navigating the changing and diverse characteristics of different cities while maintaining maximum levels of data integrity.
City Forward leverages Precisely Points of Interest data, alongside data from other third-party providers, to deliver comprehensive information on business locations, leisure hot spots, and other geographic features – revealing hidden insights on real estate assets. Precisely POI data is also uniquely geocoded leveraging the Precisely portfolio of market-leading geo addressing solutions, ensuring customers are equipped with the most accurate location and address information possible.
“Ultimately, without data context, there is no such thing as AI in the field of location intelligence,” said Costanza Balboni Cestelli, Head of Data Intelligence and Innovation at Generali Real Estate. “Precisely provides us with access to accurate, consistent, and contextual enrichment data that helps power our AI/ML models in a way that is both scalable and reliable.”
The City Forward platform uses over 800 variables and 30 different AI/ML models to deliver intelligence for investment analysis and real estate valuation, including sustainability considerations such as carbon emissions and climate action. Insights from Precisely POI data also help power the platform for a broader range of important uses, including retail site selection, urban planning, geo-targeted marketing, and more.
Research shows that 94% of business leaders agree AI is critical to success over the next five years, but despite this, 4% of leaders believe their data is not AI-ready. It highlights a concerning disconnect between the growing rates of AI adoption and levels of confidence in the data feeding the models behind it.
“For trusted AI, you need data integrity, and that means ensuring the accuracy, consistency, and context of the data fueling AI models,” said Tendü Yoğurtçu, PhD, Chief Technology Officer at Precisely. “To ensure trusted business decisions powered by AI, it’s crucial for organizations to be able to integrate data at the speed it’s needed, understand and govern its responsible use, observe and improve its quality, and enrich it for maximum context.”
Precisely offers a unique combination of software, data, and data strategy services to help businesses worldwide leverage trusted data for advanced analytics and AI initiatives. The company’s comprehensive data enrichment portfolio contains over 400 datasets and more than 9000 attributes, including POI datasets, to help customers unlock the true potential of their data.
Learn more about the importance of data integrity for trustworthy AI outcomes or register for the upcoming Predictive Powerhouse: Elevating AI Accuracy and Relevance with Third-Party Data webinar being hosted in partnership with the Generali Real Estate team.
About Generali Real Estate
Generali Real Estate S.p.A. is one of the world’s leading real estate asset managers with around €37.4 billion of assets under management as of end of 2023. It leverages the expertise of more than 370 professionals, with operating units located in the main European cities.
The company’s integrated business model covers the full scope of asset management activities and the entire real estate value chain. A series of cross-border investment vehicles, managed by the specialized asset manager Generali Real Estate S.p.A. Società di gestione del risparmio, aims to create long-term value for investors with a core/core +profile by investing in assets characterized by good locations, high liquidity and strong underlying leasing dynamics. The portfolio under management comprises a unique mix of historical and modern properties, ranging from landmark buildings to new architectural masterpieces, which has enabled the company to develop best-in-class skills in the fields of sustainability, urban development and technological innovation.
Generali Real Estate is part of the Generali Investments ecosystem of asset management firms. Learn more at www.generalirealestate.com.
About PreciselyPrecisely is the global leader in data integrity, providing accuracy, consistency, and context in data for 12,000 customers in more than 100 countries, including 99 of the Fortune 100. Precisely’s data integration, data quality, data governance, location intelligence, and data enrichment products power better business decisions to create better outcomes. Learn more at www.precisely.com.
Video – https://mma.prnewswire.com/media/2420580/Precisely_1.mp4Logo – https://mma.prnewswire.com/media/2408758/4723207/Precisely_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/precisely-empowers-generali-real-estate-to-drive-ai-innovation-with-trusted-data-302154186.html
-
Artificial Intelligence7 days agoJapan Data Center Market Investment to Reach $14.48 Billion by 2028 – Watch Out Exclusive Insight on Japan & Hong Kong Data Center Market – Arizton
-
Uncategorized6 days agoCoca-Cola: The future is ‘AI meets human ingenuity’
-
Artificial Intelligence7 days agoStrava Unveils New Chapter of Accelerated Product Development at Brand’s Flagship Event
-
Artificial Intelligence6 days agoMore than $9 Million Awarded to High School Scientists and Engineers at the Regeneron International Science and Engineering Fair 2024
-
Artificial Intelligence7 days agoData Center Colocation Market Worth USD 58.4 Billion to 2031 – Exclusive Report by InsightAce Analytic Pvt. Ltd.
-
Artificial Intelligence7 days agoArritech Launches QGen Online 2.0 – A Break-Through for Risk Compliance
-
Uncategorized6 days ago
The rise of intelligent automation as a strategic differentiator
-
Uncategorized7 days ago
SoftBank looks at ‘softening’ angry customer calls with AI
