Glucotrack Secures Three Patents for Blood Glucose Monitoring
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 21h ago
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Glucotrack announced that the US Patent and Trademark Office, USPTO, has issued Patent Nos. US 12,453,494, US 12,458,257, and US 12,458,258 for the Company's continuous blood glucose monitoring, CBGM, platform. The patents strengthen Glucotrack's competitive position and intellectual property protection as the Company advances its multi-year, fully implantable CBGM system toward commercialization. "These patents represent a significant milestone in protecting our innovative technology that is at the core of our CBGM system," said Paul Goode, PhD, President and Chief Executive Officer of Glucotrack. "Securing our intellectual property is fundamental to our strategy as we advance our fully implantable, long-term sensor through further clinical testing and toward commercialization. These patents establish important competitive barriers and strengthen our position to deliver a differentiated approach to diabetes management."
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Analyst Views on GCTK
About GCTK
Glucotrack, Inc. is focused on the design, development, and commercialization of technologies for people with diabetes. The Company is engaged in developing a long-term Implantable Continuous Blood Glucose Monitor (CBGM) for people living with Type 1 diabetes and insulin-dependent Type 2 diabetes. Its CBGM is a long-term, implantable system that continually measures blood glucose levels with a sensor longevity of 3 years, no on-body wearable component and with minimal calibration. Its CBGM technology allows for a less burdensome approach to glucose monitoring. It has also completed four animal studies with evolving prototype systems, all four of which consistently demonstrated a simple implant procedure, functionality, and safety. The Company has also demonstrated continuous glucose sensing in the epidural space via two additional animal trials, both of which demonstrated a simple implant procedure, functionality, and safety.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Glucotrack Secures Three New Patents for CBGM Technology
- Patent Approval: Glucotrack has secured three new patents from the U.S. Patent and Trademark Office, numbered US 12,453,494, US 12,458,257, and US 12,458,258, which cover critical technologies for its implantable continuous blood glucose monitoring platform, thereby enhancing the company's intellectual property portfolio.
- Technology Protection: The new patents protect innovations in sensor chemistry, intravascular lead design, and low-power electronics, all of which are integral to Glucotrack's implantable system, ensuring a competitive edge in the market.
- Positive Market Reaction: Following the patent announcement, Glucotrack's stock rose over 12% in Thursday's premarket trading, reflecting investor optimism regarding the company's future commercialization prospects, which could drive an increase in market value.
- Accelerated Commercialization: With the acquisition of these new patents, Glucotrack's long-term implantable monitoring system is closer to commercialization, expected to generate new revenue streams and strengthen its position in the medical device market.
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Glucotrack Secures $4 Million from Institutional Investor in Stock Purchase Agreement
- Financing Agreement Reached: Glucotrack has entered into a securities purchase agreement with a single institutional investor to sell 1,033,591 shares of common stock and warrants for 2,067,182 shares, expected to generate approximately $4 million, enhancing the company's liquidity to support operations.
- Warrant Details: The warrants have an exercise price of $3.87 per share and will not be exercisable until shareholder approval is obtained, which is expected to provide flexibility in the company's future capital structure and support its long-term growth strategy.
- Planned Use of Funds: The company intends to use the net proceeds from this offering for working capital and general corporate purposes, aiming to enhance its R&D capabilities and market promotion to further drive the commercialization of its diabetes monitoring technology.
- Compliance Statement: The securities transaction relies on an exemption under Section 4(a)(2) of the Securities Act of 1933, with unregistered securities restricted from sale in the U.S., ensuring the company operates within compliance frameworks during its fundraising activities.
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