Glucotrack selects cirtec medical as
manufacturer for its implantable continuous blood glucose
monitor
Rutherford, NJ & Brooklyn Park, MN, Feb. 27, 2024 --
InvestorsHub NewsWire -- 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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