Integrity Applications has entered into distribution agreements for the GlucoTrack model DF-F noninvasive blood glucose measurement device in the Philippines and in Chile.
This is its second distribution agreement in Asia and the second distribution agreement in South America. The agreement in the Philippines became effective on 11 March 2014 and the one in Chile becomes effective on 13 April 2014.
Based on the minimum purchase forecasts contained in these distribution agreements, Integrity Applications anticipates that these distributors will purchase from it an aggregate of about $1.6m of GlucoTrack model DF-F devices in the first 12 months of sales.
Integrity Applications president and CEO Avner Gal noted these distribution agreements reinforce that there is global need and demand for GlucoTrack.
"With our recent extended CE Mark approval to six-month calibration validity, we believe GlucoTrack DF-F offers users yet another important advantage to using our device, and are continuing to market GlucoTrack to additional distributors who can offer our new, noninvasive option for monitoring blood glucose to diabetes patients," Gal added.
GlucoTrack features a small sensor that clips to the earlobe and measures the wearer’s blood glucose level by taking measurements using three technologies. The measurements are analyzed using a proprietary algorithm and displayed on a small handheld device, the size of a mobile phone.
The derived blood glucose measurement is also announced verbally, making it suitable for the elderly and vision-impaired diabetes patients.
The company has obtained a CE Mark for its GlucoTrack Model DF-F in Europe (June 2013) and intends to seek Food and Drug Administration approval for GlucoTrack in the US.