Glucotrack Inc. (NASDAQ: GCTK) stock climbed 60% on Thursday after the U.S. Patent and Trademark Office granted three patents related to the company's continuous blood glucose monitoring - CBGM - platform.
The company, which develops diabetes management medical devices, said the newly issued patents cover its proprietary sensor chemistry, intravascular lead design, and the low-power electronics that power its implantable glucose monitoring system. The approvals are intended to strengthen Glucotrack's intellectual property protection as it advances a multi-year, fully implantable CBGM product toward commercialization.
The USPTO approvals include patents titled "Methods and Systems for Measuring Glucose Having Improved Decay Rates and Lag Times," "Implantable Glucose Sensors and Methods of Glucose Measurement Configured for Minimal Sensor Surface Obstruction," and "Low Power Implantable Glucose Sensors and Methods of Glucose Measurement."
Paul V. Goode, PhD, President and Chief Executive Officer of Glucotrack, said: "These patents represent a significant milestone in protecting our innovative technology that is at the core of our CBGM system. 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."
Glucotrack's CBGM technology departs from many traditional continuous glucose monitoring systems by measuring glucose directly from blood rather than from interstitial fluid. The company cites the direct blood measurement as a potential means to eliminate lag time in glucose readings. The system is designed to operate for up to three years without the need for wearable components, offering a more durable and less obtrusive option for diabetes management.
Context and next steps
The patent grants solidify protection for several technical aspects of Glucotrack's implantable sensor as the firm proceeds with additional clinical testing and prepares for later-stage commercialization activities. While the approvals are a legal and strategic step, the company continues to work through the clinical and regulatory path required to bring its multi-year implantable device to market.