GlucoTrack (Nasdaq:GCTK) announced that it plans to expand its product pipeline with a R&D program for a long-term continuous glucose monitor (CGM).
Rutherford, New Jersey-based GlucoTrack said it recently required related IP. It now intends to develop a long-term, implantable glucose management platform for the type 1 diabetes market.
Initial data gives the company confidence in developing a more accurate and convenient solution. It said in a release that it expects “significantly longer duration” compared to current on-the-market products.
“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.”
GlucoTrack — formerly known as Integrity Applications (Nasdaq:IGAP) — earlier this year completed lab testing of the non-invasive GlucoTrack 2.0 clinical prototype system. It said it observed better-than-expected accuracy and performance with the technology. It plans for its first-in-human trials later this quarter.
The company’s second-generation glucose monitor device showed promising results in analyses. Lab testing included multiple iterations of electronics, ear clip and a mobile app with cloud-based software. The company also tested human factors of the mobile app through simulated use in focus groups. Finally, it evaluated an external design review for system architecture, stability and cybersecurity.