GLUCOTRACK TO BEGIN RESEARCH & DEVELOPMENT OF NOVEL CONTINUOUS GLUCOSE MONITORING SYSTEM
GlucoTrack, Inc. (Nasdaq: GCTK) announced the launch of a new R&D program aimed at developing a long-term implantable glucose monitor targeting the Type 1 diabetes market. Following the acquisition of related intellectual property, the company aims to create a more accurate and convenient glucose management solution. GlucoTrack also reported positive lab testing results for its non-invasive GlucoTrack 2.0 prototype, with first-in-human trials expected to begin soon. CEO Paul Goode expressed excitement about expanding their product pipeline to benefit people with diabetes.
- Commencement of a new R&D program for a long-term continuous glucose monitor.
- Acquisition of related IP to enhance product development for Type 1 diabetes.
- Positive lab testing results for GlucoTrack 2.0, indicating better accuracy and performance.
- None.
Rutherford, NJ, Oct. 10, 2022 (GLOBE NEWSWIRE) -- GlucoTrack, Inc. (Nasdaq: GCTK) (“GlucoTrack” or the “Company”), a non-invasive device and digital health platform for measuring glucose levels in people with Type 2 diabetes and prediabetes, announced today it is expanding its product pipeline with the commencement of a new R&D program for a long-term continuous glucose monitor.
Following the recent acquisition of certain related IP, the Company intends to develop a long-term implantable glucose management technology to address the growing Type 1 diabetes market.
Based on initial data, the Company believes it can bring to market a solution that is more accurate, more convenient and has a significantly longer duration than current on-the-market solutions.
“We are excited about entering into the Type 1 diabetes market, and we intend to continue to expand our line of product offerings to benefit all people with diabetes and prediabetes” said Paul Goode, CEO and President of GlucoTrack. “We look forward to reporting our progress and are thankful to our shareholders who share our passion to pioneer new products for this monumental market.”
In addition, as reported earlier this year, the Company completed lab testing of its non-invasive GlucoTrack 2.0 clinical prototype system and observed better-than-expected accuracy and performance with the technology. The Company is scheduled to begin its first-in-human trials later this quarter.
About GlucoTrack, Inc.
GlucoTrack, Inc. (NASDAQ: GCTK), (formerly known as Integrity Applications, Inc.) is focused on the design, development, and commercialization of non-invasive glucose monitoring technologies for people with diabetes and prediabetes. The Company’s initial product, GlucoTrack®, is a proprietary non-invasive glucose monitoring device designed to obtain glucose level measurements without the pain, incremental cost, difficulty, or discomfort of conventional invasive finger stick devices. For more information, please visit and http://www.glucotrack.com.
Investor Contact: investors@glucotrack.com
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the generality of the foregoing, words such as “expect”, “plan” and “will” are intended to identify forward-looking statements. Readers are cautioned that certain important factors may affect GlucoTrack’s actual results and could cause such results to differ materially from any forward-looking statements that may be made in this news release. Factors that may affect GlucoTrack’s results include, but are not limited to, the ability of GlucoTrack to raise additional capital to finance its operations (whether through public or private equity offerings, debt financings, strategic collaborations or otherwise); risks relating to the receipt (and timing) of regulatory approvals (including FDA approval); risks relating to enrollment of patients in, and the conduct of, clinical trials; risks relating to its current and future distribution agreements; risks relating to its ability to hire and retain qualified personnel, including sales and distribution personnel; and the additional risk factors described in GlucoTrack’s filings with the U.S. Securities and Exchange Commission (the “SEC”), including its Annual Report on Form 10-K for the year ended December 31, 2021 as filed with the SEC on March 31, 2022.
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