Integrity Applications Inc. has listed on Wall Street's Bulletin Board under the ticker "IGAP", after raising $6.3 million in its IPO of shares and warrants in March. The company has developed a non-invasive blood glucose measurement device for type 1 and 2 diabetes, the GlucoTrack DF-F.
Integrity Applications CEO Avner Gal said, "The commencement of trading in our common stock marks an important milestone for Integrity Applications, and we are pleased that our company has progressed to this stage. If approved for sale, our GlucoTrack DF-F product candidate will allow diabetics to painlessly measure their blood glucose levels without taking blood or utilizing test strips. We know that taking frequent blood glucose measurements improves patient care by facilitating glycemic control, and we believe that non-invasive testing will encourage more frequent measurements by diabetics."
Avner added that the company applied for EU CE Mark certification of its product earlier this year, and expects to obtain approval by June. Later this year, the company will prepare its regulatory strategy for developing the device in the US.
The GlucoTrack DF-F device uses a patented combination of ultrasound, electromagnetic, and thermal technologies to obtain blood glucose measurements in less than one minute via a small sensor that is clipped to the earlobe and connected to a smartphone-size, handheld control and display unit, all without drawing blood. Clinical data collected since 2009 at the Soroka University Medical Center in Beersheva indicate a positive correlation between GlucoTrack DF-F readings and those obtained from conventional invasive devices.
Integrity Applications was co-founded by Avner and VP operations David Malka, and is based in Ashkelon.
Published by Globes [online], Israel business news - www.globes-online.com - on April 9, 2013
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