Glucotrack (Nasdaq:GCTK) announced that it completed a strategic business combination with Lōkahi Therapeutics.
The companies structured the combination so that Lōkahi becomes the operating and controlling business of the combined company. It now leverages Glucotrack’s continuous blood glucose monitoring (CBGM) business as a wholly owned subsidiary.
According to a news release, the combined organization integrates Lōkahi’s dual-engine model of late-stage clinical development capabilities and ai² platform-driven asset sourcing with Glucotrack’s existing technology infrastructure. They hope to create a scalable, repeatable framework for value creation.
Rutherford, New Jersey-based Glucotrack’s develops a CBGM device that features no on-body external component. The company aims to offer it for three years of continuous, accurate blood glucose monitoring for a more convenient, less intrusive solution. Unlike traditional CGMs that measure glucose in interstitial fluid, the CBGM measures glucose levels directly from the blood. It aims to provide real-time readings without the lag time typically associated with interstitial glucose measurements.
Under the terms of the transaction, Lōkahi becomes the operating and controlling business of the combined company. Lōkahi securityholders received a combination of Glucotrack common stock and convertible preferred stock. The transaction is supported by a planned private placement to support the combined company’s capital position. Glucotrack expects a designated portion of that placement to support CBGM development through the subsidiary structure.
With the changes, Erik Emerson becomes CEO of the combined company. Glucotrack’s CEO, Paul Goode, now serves as chief technical officer of the combined company while remaining as CEO of the CBGM subsidiary.
Commentary from Glucotrack and Lōkahi leadership
Emerson said:
“This transaction establishes a capital-efficient, publicly listed platform designed to systematically identify, acquire, and advance differentiated healthcare assets. By combining public market access with Lōkahi Therapeutics’ ai² platform and disciplined operating model, we are positioned to expand our pipeline, strengthen our capital structure, and pursue a broader set of strategic opportunities.”
Goode said:
“This combination enables the continued advancement of Glucotrack’s core technology within a focused operating structure while participating in a broader platform designed for scalable growth. We believe this integrated approach supports disciplined execution across both operating priorities.”
