GLUCOTRACK ANNOUNCES INCREASED SENSOR LONGEVITY FOR ITS IMPLANTABLE CONTINUOUS BLOOD GLUCOSE MONITOR
April 02 2024 - 8:30AM
Glucotrack, Inc. (Nasdaq: GCTK) (“Glucotrack” or the “Company”), a
medical device company focused on the design, development, and
commercialization of novel technologies for people with diabetes,
and The Technology Partnership (“TTP”), today announced the
completion of computational modeling for Glucotrack’s implantable
Continuous Blood Glucose Monitor (“CBGM”), suggesting sensor
longevity beyond three years, a year longer than the Company
previously announced.
Glucotrack has engaged TTP for the development
of computational modeling, which addresses enzyme longevity for use
in long-term implantable electrochemical sensors. This in silico
modeling specifically evaluated the expected longevity of the
Glucotrack CBGM sensor implementation. The CBGM sensor leverages
well-established cardiovascular technology to directly measure
blood glucose intravenously, providing more rapid glucose
monitoring results without the 15-20-minute lag seen with
interstitial glucose sensors.
Previously, Glucotrack had announced a projected
sensor longevity of 2+ years. TTP’s modeling confirmed the 2+ year
projection, but TTP’s modeling further projects that the Glucotrack
CBGM sensor longevity may now be capable of reaching 3+ years. The
model developed by TTP captures numerous processes and complex
aspects of the sensor function, including the rate of glucose
transport in typical in-vivo conditions, the consumption of enzyme,
and the impact of reaction components while incorporating
appropriate benchtop sensor data.
TTP brings over 35 years of experience in the
life science and healthcare sectors to this project, with specific
expertise in multiphysics modeling, electrochemical sensor
development, and the design and integration of wearable and
implantable medical devices. TTP’s knowledge and skills have been
instrumental in evaluating and extending the projected longevity of
the Glucotrack CBGM sensor.
"TTP is well versed in supporting clients with
creating breakthrough medical technology solutions,” said Paul
Goode, PhD, CEO of Glucotrack. “This collaboration has enhanced our
development program, and the projected increase in sensor longevity
to beyond three years further demonstrates that our technology is
truly differentiated in the glucose monitoring space. This
achievement doesn’t change our commercialization timing but instead
paves the way for future generations of our system, which will be a
truly long-term CBGM to people living every day with diabetes.”
Chris Dawson, PhD, Head of Biosensing at TTP,
said: “We are delighted to be working on this exciting and
disruptive technology with Glucotrack. These tremendously promising
results, coupled with Glucotrack’s innovative approach to glucose
monitoring, means that this technology has the potential to deliver
a new way for patients to manage their diabetes with discretion and
minimal disruption to their lives.”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 blood glucose
monitoring system for people living with diabetes.
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
minimal calibration. For more information, please
visit http://www.glucotrack.com.
About The Technology Partnership
The Technology Partnership is an internationally
respected product and technology development firm based in
Cambridge, UK. For over 35 years, clients across a spectrum of
industries including health tech, life science, deep tech and clean
tech have trusted its deep domain expertise and enabling culture to
create valuable new technology and deliver ground-breaking
solutions, from first principles, through product design and
manufacture to commercialisation. Please visit
https://www.ttp.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. Such
forward-looking statements are based on the beliefs of management,
as well as assumptions made by, and information currently available
to, management. These statements relate only to events as of the
date on which the statements are made, and GlucoTrack undertakes no
obligation to publicly update any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by law. All of the forward-looking statements
made in this press release are qualified by these cautionary
statements, and there can be no assurance that the actual results
anticipated by the GlucoTrack will be realized or, even if
substantially realized, that they will have the expected
consequences to or effects on us or our business or operations.
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 U.S. Food and Drug
Administration approval); risks relating to enrollment of patients
in, and the conduct of, clinical trials; risks relating to
GlucoTrack’s 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, 2023 as filed with the
SEC on March 28, 2023.
Contacts:
Investor Relations:investors@glucotrack.com
Media:GlucoTrackPR@icrinc.com
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