GLUCOTRACK ANNOUNCES
INCREASED SENSOR LONGEVITY FOR ITS
IMPLANTABLE CONTINUOUS
BLOOD GLUCOSE MONITOR
Computational
modeling with The Technology Partnership shows sensor longevity
beyond 3 years; 1 year longer than previously announced
Implantable
Continuous Blood Glucose Monitor technology could transform lives
of patients with diabetes
Rutherford, NJ &
Cambridge, UK -- April 2, 2024 -- InvestorsHub NewsWire --
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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