ASHKELON, Israel, Oct. 26, 2015 /PRNewswire/ -- Integrity Applications, Inc. (OTCQB: IGAP), maker of GlucoTrack®, a non-invasive device for measuring glucose levels of people with Type 2 diabetes or at risk of developing diabetes, announced that it held its first Distributors Conference in Cyprus, Greece from October 12 through October 15, 2015. 13 European distributors were present as well as delegations from China, Hong Kong and Israel.
At the conference, Integrity Applications provided distributors with current diabetes scientific information and an overview of market conditions and presented them with new global branding and sales materials for the GlucoTrack® Model DF-F. Highlighted at the conference was the recent approval from the European Union to market the GlucoTrack® Model DF-F for pre-diabetic usage, as well as the reduction of device calibration process time from about 2.5 hours to less than half an hour.
In March 2014, GlucoTrack® Model DF-F, received final CE Mark (European Union) approval to sell in Europe. Since then, Integrity Applications, under Ron Roobroeck, Director of International Marketing and Sales, has been active in developing its European distribution network. The conference was intended to advance the preparedness of the European distribution network to begin selling efforts for the GlucoTrack® Model DF-F non-invasive glucose measuring device following product training sessions scheduled for mid-November, 2015.
"We are extremely delighted with the outcome of this conference," said Ron Roobroeck, Director of International Marketing and Sales. "The feedback from our European distributors was very positive and there was great anticipation and enthusiasm to begin selling GlucoTrack. Next month we will conduct updated product training sessions that will further prepare our distributors for selling our product."
GlucoTrack® is a non-invasive device for measuring glucose levels of people with Type 2 diabetes or at risk of developing diabetes. The GlucoTrack® Model DF-F is expected to begin clinical trials for United States FDA approval in early 2016, subject to approval of Integrity Applications' clinical trial protocol by the FDA.
GlucoTrack® Model DF-F obtained a CE Mark approval in Europe (June 2013) and final CE Mark approval in March 2014 and recently received approval to market to pre-diabetics.
GlucoTrack® Model DF-F is currently under assessment with the China Food and Drug Administration (CFDA) as well as food and drug governing bodies in Japan, South Korea Canada and Australia.
GlucoTrack® does not require pricking of the fingers to draw blood for daily glucose monitoring. GlucoTrack® features a small sensor that clips to the earlobe and measures the wearer's glucose level by taking measurements using three technologies. The measured signals are analyzed using a proprietary algorithm and displayed on a small handheld device, the size of a mobile phone. The derived glucose measurement is also announced verbally, making it suitable for the elderly and vision-impaired diabetes patients.
About Integrity Applications, Inc.
Integrity Applications, Inc. is a medical device company focused on the design, development and commercialization of non-invasive glucose monitoring devices for use by people with diabetes. Integrity Applications has developed the GlucoTrack® model DF-F non-invasive glucose monitoring device, which is designed to help people with diabetes obtain glucose level measurements without the pain, inconvenience, incremental cost and difficulty or discomfort of conventional (invasive) spot finger stick devices. Integrity Applications operates primarily through its wholly-owned Israeli subsidiary, A.D. Integrity Applications, Ltd. For more information, please visit www.integrity-app.com.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the generality of the foregoing, words such as "expect" and "will" are intended to identify forward-looking statements. Readers are cautioned that certain important factors may affect Integrity Applications' actual results and could cause such results to differ materially from any forward-looking statements that may be made in this news release. Factors that may affect Integrity Applications' results include, but are not limited to, the ability of Integrity Applications to raise additional capital to finance its operations (whether through public or private equity offerings, debt financings, strategic collaborations or otherwise); risks relating to the receipt (and timing) of regulatory approvals (including FDA approval); the ability of Integrity Applications to successfully commercialize the GlucoTrack® model DF-F; risks relating to Integrity Applications' arrangements with distributors, including the risk that distributors will not meet their annual purchase quotas; the ability of the GlucoTrack® model DF-F to achieve acceptable pricing, adequate third party reimbursement or market acceptance; the ability of Integrity Applications to manage its growth and the expansion of its operations to include commercialization activities; risks relating to the use of third party manufacturers; risks relating to the development of Integrity Applications' sales, marketing and distribution capability, either on its own or through collaborations with marketing partners; the possibility that the distributors will not satisfy their minimum purchase commitments under their distribution agreements; risks relating to obtaining regulatory approval in the United States and in foreign jurisdictions; and the additional risk factors described in Integrity Applications' filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2014.
CFO Integrity Applications, +972 (8) 675-7878 ext. #3, [email protected]
SOURCE Integrity Applications, Inc.