GLUCOTRACK ANNOUNCES SHAREHOLDER UPDATE

Rutherford, NJ, Nov. 13, 2023 (GLOBE NEWSWIRE) -- Glucotrack, Inc. (Nasdaq: GCTK) (“Glucotrack” or the “Company”), a medical device company focused on glucose monitoring technologies for people with 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,

As we near the end of 2023, we would like to express our gratitude for your continued support of the Company. We welcome this opportunity to announce a redefined strategic direction as we take a step closer to achieving our vision of becoming a leader in the diabetes market by providing a range of unique products and services addressing multiple categories.

In recent years, the diabetes market has experienced a significant transformation, driven by the growth of continuous glucose monitoring (CGM). As momentum for CGM has continued to intensify, the market has been shifting away from point-in-time (i.e. non-continuous) glucose monitoring. With our goal of commercializing market-leading diabetes technology, the Company is shifting its focus from non-invasive point-in-time glucose monitoring to continuous glucose monitoring technology within our portfolio. We are excited about this transition, which expands our commercial opportunity into both the type 1 and type 2 diabetes market and ensures we are on the optimal path for the long-term growth and sustainability of the Company.

Within the clinical landscape, the expanding body of clinical evidence supporting the value of CGM in people with type 1 and type 2 diabetes has contributed to, and even driven, interest and utilization of the category within the patient and healthcare provider communities. Conversely, recent changes in the clinical landscape for blood glucose monitoring (BGM), which is a type of point-in-time glucose monitoring, have called into question its value for non-insulin using people with type 2 diabetes, the target population for non-invasive point-in-time glucose monitors.

New clinical guidelines were published in August on the diagnosis and management of diabetes, titled, “Guidelines and Recommendations for Laboratory Analysis in the Diagnosis and Management of Diabetes Mellitus.” These guidelines were reviewed by the Evidence Based Laboratory Medicine Committee and the Board of Directors of the American Association for Clinical Chemistry as well as the Professional Practice Committee of the American Diabetes Association (ADA) and were published in Clinical Chemistry. This was the first update to the guidelines since 2011 and included major shifts in clinical thinking. In particular, the guidelines state that “routine use of BGM is not recommended for people with type 2 diabetes treated with diet and/or oral agents alone”¹. This is a notable change from the 2011 guidelines, which said the BGM “may help achieve better control, particularly when therapy is initiated or changed” in this population². Additionally, the ADA Standards of Care 2023 state “in people with type 2 diabetes not taking insulin, routine glucose monitoring may be of limited additional clinical benefit.”³ These new clinical guidelines suggest that use of point-in-time glucose monitoring should not focus on non-insulin using people with type 2 diabetes who are treated with diet and/or oral agents. Thus, these new guidelines question the value of non-invasive point-in-time glucose monitoring for its key patient population and thus cast uncertainty about the size of the commercial opportunity.