Business
GLUCOTRACK PROVIDES SHAREHOLDER UPDATE
Rutherford, NJ, March 14, 2023 (GLOBE NEWSWIRE) -- GlucoTrack, Inc. (Nasdaq: GCTK) (“GlucoTrack” or the “Company”), a medical device and digital health
About this update from Glucotrack, Inc.
[{"type":"text","content":"Rutherford, NJ, March 14, 2023 (GLOBE NEWSWIRE) -- GlucoTrack, Inc. (Nasdaq: GCTK) (“GlucoTrack” or the “Company”), a medical device and digital health platform company focused on diabetes and prediabetes, announced today that Paul V. Goode, PhD, President and Chief Executive Officer has provided a shareholder update letter. To Our Valued Shareholders, At the outset, we would like to express our gratitude to all of our shareholders for their continued support of the Company. We remain fully committed to executing our business strategy and could not be more excited about the outlook for the Company. We welcome this opportunity to share our thoughts and insights as to the developments of the past year and our plans going forward. Our vision at Glucotrack is to become a leader in the diabetes market by providing a range of products and services addressing multiple verticals; those with Type 1 and Type 2, insulin dependent and non-insulin dependent, and prediabetes. The management team we have built has deep expertise in a variety of disciplines, including glucose monitoring, sensor development, and novel insulin delivery systems. Our senior leadership hail from leading companies in the field, including Dexcom, Medtronic, Samsung Health, and Insulet. While our initial product, the Glucotrack non-invasive device is intended for the Type 2, non-insulin dependent market, in the fourth quarter of 2022 we added to our product portfolio by acquiring technology for an implantable continuous glucose monitor that is intended for the Type 1 insulin dependent market. While we are focused on these two current product programs, we continue to explore new avenues for growth and innovation by reviewing additional technologies within the diabetes market for strategic partnerships or acquisitions. We continue to make progress on our flagship Glucotrack non-invasive monitor. Our development team began our Gen 2 redesign program as a project to miniaturize the Gen 1 technology into a smaller wireless ear clip that would connect to a smartphone via Bluetooth. As our miniaturization project progressed, the glucose sensing landscape evolved as continuous glucose monitoring (CGM) devices in the market reached similar accuracy as the conventional fingerstick blood glucose monitoring (BGM) devices. This inevitably raised the regulatory bar for any glucose s...