Integrity Applications has entered, through its subsidiary company, Integrity Applications, into a distribution agreement appointing Felkasta as the exclusive distributor of the GlucoTrack model DF-F noninvasive blood glucose measurement device in Lithuania, Latvia, Estonia and Belarus effective 28 March 2014.
Sales of GlucoTrack in Lithuania, Latvia and Estonia are expected to begin by the second quarter of 2014. Due to local regulatory requirements, sales of GlucoTrack in Belarus are expected to begin by the first quarter of 2015.
Based on the minimum purchase requirements contained in the distribution agreement, Felkasta is expected to purchase a minimum of $300,000 of GlucoTrack model DF-F devices from Integrity Applications in the first contract year.
Integrity Applications president and CEO Avner Gal noted this is the company’s third distribution agreement for GlucoTrack and as always, it is enthusiastic about providing diabetes patients with a new, noninvasive option for monitoring blood glucose.
"While several companies have announced developments in their efforts to create noninvasive blood glucose monitoring devices, many of those devices are in early stages of development and are not expected to be commercially available for several years.
"In contrast, the GlucoTrack model DF-F is expected to be available for commercial sale in several European Union nations beginning in the first half of 2014," 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 and intends to seek Food and Drug Administration approval for GlucoTrack in the US.