Innovative Wearable Devices Enable Remote Patient Monitoring - Co-Diagnostics (NASDAQ:CODX)

NEW YORK, May 14, 2020 /PRNewswire/ -- The wearable technology market is quickly evolving into a major tech segment thanks to a growing consumer market driven by the sales of smartwatches. A major segment of the wearable technology market is wearable medical tech, which is mostly focused on monitoring medical data and aiding diagnostics. Traditionally, patient monitoring devices are used in hospitals to monitor a patient's vital signs. Nowadays, with the advancements in wireless technology, these devices can be used to remotely monitor a patient's various physiological parameters. Today, during a severe viral pandemic, remote monitoring medical devices have become a crucial component of healthcare. In fact, earlier in March, the U.S. Food and Drug Administration (FDA) allowed certain FDA-cleared non-invasive, vital sign-measuring devices to expand their use so that health care providers can use them to monitor patients remotely. Overall, the remote monitoring device market has been very innovative in recent times and includes devices that can monitor glucose levels, temperature, and various other vital signs. In a time of a pandemic, healthcare professionals can now monitor patient remotely. Nemaura Medical, Inc. NMRD, FLIR Systems, Inc. FLIR, Vir Biotechnology, Inc. VIR, Co-Diagnostics, Inc. CODX, Koninklijke Philips N.V. PHG

Among the recent innovations in this segment, an exciting product comes from the Taiwan-founded healthcare wearable device company iWEECARE. The company recently announced that its flagship product, Temp Pal, has been in use to help combat the spread of the viral infection in hospitals and help during self-quarantine. According to a report published by MobiHealthNews, the cloud-based continuous temperature monitoring system has potential in lowering the risk of infections and prevents the overwhelming of health systems. The device works with a cloud-based continuous remote system for temperature monitoring designed to alert users if and when abnormal body temperature is detected. The Temp Pal is a small stamp-sized soft patch, lasting 36 hours per battery charge, and capable of transmitting temperature data via Bluetooth Low Energy to iWEECARE's mobile app and its cloud dashboard.

Nemaura Medical, Inc. NMRD announced earlier this week breaking news regarding, "positive initial user-volunteer data from its head-to-head comparison with a major incumbent CGM device.

Earlier this year Nemaura announced that following discussions with various healthcare insurers, it was planning head-to-head comparisons with one or more major incumbent CGM devices. The aim of these studies was to position sugarBEAT as a cost-effective, flexible alternative to marketed invasive CGM, allowing continuous glucose monitoring on days the user chooses, and therefore, we believe, reducing the overall cost burden to users and healthcare insurers alike. Today, the Company reported early results comparing data between sugarBEAT and a major incumbent CGM device, demonstrating sugarBEAT accuracy on par with the incumbent CGM device, using a single finger prick calibration. Further details can be viewed on a report published on the company's website at: https://nemauramedical.com/publications/

Dr Faz Chowdhury, CEO of Nemaura, stated: 'The primary objective of these user studies comparing sugarBEATÒ with marketed CGMs was to demonstrate that similar long term clinical outcomes can be achieved irrespective of whether CGM is used every day of the month or only on a few days of the week or month. We believe that the implications of this would be that the annual cost per user would dramatically fall, making it affordable for the 90% of the diabetic population that are Type 2, the majority of whom do not require continuous daily monitoring, and those persons with Type 1 diabetes who are not currently using any CGM for whom having an occasional daily glucose profile would provide a powerful insight into the control over their blood sugar levels and Time-in-Range profiles. Our overall goal is to empower users with data that helps them develop control over their glucose fluctuations and guide them towards improved Time-in-Range profiles to reduce the long term complications of diabetes and help potentially reverse Type 2 diabetes, and also help those with pre-diabetes from developing diabetes. We believe that sugarBEAT is uniquely positioned to be able to achieve these goals, given that existing invasive CGMs are costly and do not have the flexibility of wear and resulting cost-advantage that we believe sugarBEAT provides.'

Dr Chowdhury discussed the commercial rollout and unique positioning of sugarBEAT in an exclusive interview with Redchip, which can be viewed here: https://youtu.be/7Mujq9_wDOw

Nemaura also plans to launch proBEAT™ in the USA later this year, which is expected to help users improve their knowledge of how a range of lifestyle, dietary and health and wellbeing factors impact their sugar levels by deploying sugarBEATÒ to act like a black box flight recorder. It is planned that big data about the multitude of factors that affect glucose levels will be gathered from all users and employed in developing and subsequently "fine-tuning" predictive algorithms and artificial intelligence based feedback and prompts. We believe that these will then be able to both educate and provide motivational tools to the user to encourage them to lead a healthier lifestyle, targeting over 85 million people that are pre-diabetic and over 24 million people who have Type 2 diabetes in the US. Nemaura is intending to pursue reimbursement from healthcare insurers in the US for proBEAT™."

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FLIR Systems, Inc. FLIR announced on April 1st, the FLIR A400/A700 Thermal Smart Sensor and Thermal Image Streaming fixed camera solutions for monitoring equipment, production lines, critical infrastructure, and screening for elevated skin temperatures. These highly configurable smart camera systems provide accurate, non-contact temperature monitoring across a wide range of disciplines: manufacturing process control, product development, emissions monitoring, waste management, facilities maintenance, and Environmental, Health, and Safety (EHS) improvements. The FLIR A400/A700 Thermal Smart Sensor solution initially will be prioritized for those responding to COVID-19. For all applications, the series offers multi-image streaming, edge computing, and Wi-Fi connectivity to help speed data flow and enable faster decisions, improving productivity and safety for professionals. "For more than 40 years, FLIR thermal imaging has provided technologies for professionals to improve not only their capabilities, but also their safety on the job," says Jim Cannon, President and CEO at FLIR. "As the world works together to face the global COVID-19 pandemic, given the need for this technology, FLIR will prioritize initial deliveries of this new A-series camera to professionals using it in elevated skin temperature screening as an adjunct to other elevated body temperature screening tools to help to fight the spread of the virus."

Vir Biotechnology, Inc. VIR and GlaxoSmithKline plc announced last month that they have signed a binding agreement to enter into a collaboration to research and develop solutions for coronaviruses, including SARS-CoV-2, the virus that causes COVID-19. The collaboration will use Vir's proprietary monoclonal antibody platform technology to accelerate existing and identify new anti-viral antibodies that could be used as therapeutic or preventative options to help address the current COVID-19 pandemic and future outbreaks. The companies will leverage GSK's expertise in functional genomics and combine their capabilities in CRISPR screening and artificial intelligence to identify anti-coronavirus compounds that target cellular host genes. They will also apply their combined expertise to research SARS-CoV-2 and other coronavirus vaccines.

Co-Diagnostics, Inc. CODX announced earlier this month that its Logix Smart™ Coronavirus COVID-19 Test has been approved for sale in Mexico by the Mexican Department of Epidemiology ("InDRE") after InDRE successfully concluded an evaluation of the test's sensitivity and specificity and its non-reactivity with other respiratory viruses. InDRE, which is analogous to the U.S. Centers for Disease Control and Prevention (CDC), is required to evaluate any test to detect the disease before the test may gain clearance to be sold into the Mexican healthcare market. Co-Diagnostics also announced that CoSara, the Company's joint venture for manufacturing in India, expects to now begin filling orders following the successful evaluation of CoSara's Saragene™ COVID-19 RT-PCR test kit by the Indian Council of Medical Research (ICMR). The evaluation showed 100% sensitivity and 100% specificity without any cross reactivity with other respiratory viruses, and it has been cleared for sale to the Indian market.

Koninklijke Philips N.V. PHG leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care. Recently the Company announced that it has received 510(k) clearance from the U.S. Food and Drug Administration (FDA) to market a wide range of its ultrasound solutions for the management of COVID-19-related lung and cardiac complications. "Many healthcare providers have told us that our handheld and portable ultrasound solutions are playing a valuable role in their efforts to combat COVID-19," said Bich Le, Senior Vice President and General Manager Ultrasound at Philips. "With this regulatory clearance we can offer clear guidance to ensure safe and effective use of ultrasound to manage COVID-19-related lung and cardiac complications. At the same time, we are investing significantly to ramp up production globally, including at our ultrasound manufacturing plants in the US."

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