GLUCOTRACK SELECTS CIRTEC MEDICAL AS MANUFACTURER FOR ITS IMPLANTABLE CONTINUOUS BLOOD GLUCOSE MONITOR
February 27 2024 - 8:30AM
Glucotrack, Inc. (Nasdaq: GCTK), a medical device company focused
on the design, development, and commercialization of novel
technologies for people with diabetes, today announced the
selection of Cirtec Medical Corp, the leading medical device
solutions provider of implantable therapies, as manufacturer for
the implantable Continuous Blood Glucose Monitor (CBGM). The two
companies have signed a development agreement for clinical and
commercial manufacturing.
Glucotrack’s CBGM is a long-term, implantable
system that continually measures blood glucose levels with a sensor
longevity of 2+ years, no on-body wearable component and with a
once-only calibration event. The company continues to reach
significant milestones, such as the recently announced completion
of its first preclinical study in animals.
“Cirtec is a leader in the design and
manufacturing of implantable medical devices in the fields of
neuromodulation, cardiology and drug delivery. They are a natural
fit to be the manufacturer of our CBGM, which leverages their deep
experience in implantable technologies and brings it to the
diabetes market,” stated Paul Goode, PhD, CEO of Glucotrack. “Their
expertise has already contributed extensively to our product design
process, and we expect this relationship to accelerate the pace at
which this technology becomes available for human clinical trials
and then scalable for commercialization.”
Cirtec Medical is a vertically integrated,
full-service outsource partner that provides state-of-the-art
product design, development, and manufacturing services to a
variety of medical device OEMs. Cirtec boasts over three decades of
expertise in every phase of the product development lifecycle for
complex medical devices. As part of the development agreement, the
companies will collaborate to complete development and
manufacturing activities to support the first-in-human clinical
studies of the implantable CBGM, which are slated for later this
year.
“Cirtec is proud
to work with Glucotrack, further cementing our
expanding role into implantable devices in the diabetes
market,” stated Brian Highley, Cirtec CEO. “Our
agreement capitalizes on Cirtec’s extensive expertise in
implantable medical device design, development, and manufacturing
and Glucotrack's innovation in CBGM. Together, we are committed to
advancing technology solutions for people living with diabetes
worldwide.”
For more information about Glucotrack’s CBGM,
visit glucotrack.com.
# # #
About GlucoTrack, Inc.
GlucoTrack, Inc. (NASDAQ: GCTK) is focused on
the design, development, and commercialization of novel
technologies for people with diabetes. The Company is currently
developing a long-term implantable continuous glucose monitoring
system for people living with diabetes. For more information,
please visit http://www.glucotrack.com.
Investor Contact: investors@glucotrack.com
About Cirtec
Cirtec Medical is a vertically integrated,
full-service outsource partner providing end-to-end product design,
development, and manufacturing of Class III and II medical devices
and components. Cirtec specializes and invests in today’s most
advanced product technologies including neuromodulation, Smart
Orthopedics, implantable drug delivery, cardiac rhythm management,
ventricular assist, interventional devices and delivery systems.
Cirtec has a global footprint with facilities in Brooklyn Park, MN;
Chandler, AZ; El Coyol, Costa Rica; Enfield, CT; Santa Clara, CA;
Lowell, MA; Sturtevant, WI; Rock Hill, SC; and Birkenfeld, Germany.
Learn more at https://cirtecmed.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 “believe”, “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 GlucoTrack’s ability to maintain
compliance with the Nasdaq Stock Market LLC’s continued listing
requirements; risks relating to the failure to select or capitalize
on the most scientifically, clinically or commercially promising or
profitable product candidates, 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, 2022 as filed with the SEC on March 31, 2023.
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