Print Page   |   Sign In   |   Register
Companies: Integrity Applications, Inc. (IGAP)

Company Profile

Description

Integrity Applications (“IGAP”) is headquartered in Ashdod, Israel.  The Company’s current wholly owned subsidiary Integrity Israel was founded in 2001 to develop a non-invasive glucose monitor.  IGAP was incorporated in Delaware in 2010, and that incorporation included a merger with Integrity Israel.  In November 2011, IGAP filed a registration statement with the U.S. Securities and Exchange Commission and the stock began trading publicly.

The Company’s product referred to as the GlucoTrack®, cosnsits of a small palm sized monitoring device which is wired to a clip that a user attaches to their earlobe.  The device then provides the user with a non-invasive reading or their blood glucose level, which is germane to diabetics and pre-diabetics.  Unlike the most common blood glucose monitoring protocols, which require the user to prick themselves with a needle, draw a drop of blood and run it through a small analyzer, GlucoTrack® is non-invasive, and can provide an accurate picture of the changes in a user’s glucose levels via multiple samples over various periods of time. Because the technology is non-invasive, it may encourage diabetics and pre-diabetics in need of regular monitoring with a solution that is less painful, simpler and generally easier to use than dominant legacy alternatives.  Consistent monitoring in conjunction with appropriate intervention (a shot of insulin for example) are paramount in providing optimal health solutions for diabetics necessary to improve and extend their quality of life.            

According to the World Health Organization, worldwide the number of people with diabetes in 2014 was 422 million.  That number is nearly 4X the number of global diabetics in 1980 and it is expected to grow significantly over the next 20 years. The global healthcare costs associated with treating diabetes are estimated to be in excess of $650 billion per year and growing.  As daunting as diabetes is in terms of both human suffering and healthcare costs, one of the best ways to mitigate the impact of the disease is through consistent glucose level monitoring.  In that regard, IGAP’s GlucoTrack® may become a part of that solution.

In June 2013, the Company obtained CE Mark approval in Europe (the European equivalent to FDA approval in the U.S.) final CE Mark approval in March 2014, and approval to market the device to pre-diabetics in August 2015. The CE Mark approval includes a designation referred to as the Medical Device Directive which addresses the sale of a device in all 27 EU member states and a handful of others (although there are some added requirements in particular states).  Currently, the Company has “exclusive distribution agreements with distribution firms in more than 15 countries”.  In addition, GlucoTrack® 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, and The Company anticipates commencing clinical trials in the U.S. in the current year.  

While the Company has spent that past few years developing and improving the product for regulatory approval and subsequent commercialization, it appears that they are at the cusp of those endeavors.  If that proves to be the case the Company should experience exponential growth over the next several quarters and years.   

Contact Information

  • 19 Ha Yahalomim St.
  • P.O. Box 12163
  • Ashdod 7760049
  • Israel

Financial Reporting/Disclosure

Reporting Status U.S. Reporting: SEC Reporting
Audited Financials Audited
Latest Report Jun 30, 2016 10-Q
CIK 0001506983
Fiscal Year End 12/31
OTC Marketplace OTCQB

Profile Data

SIC - Industry Classification 3841 - Surgical and medical instruments
Incorporated In: DE, USA
Year of Inc. 2001
Employees 37 a/o Dec 22, 2013

Company Officers/Contacts

Avner Gal CEO, President
Eran Cohen COO
Eran Hertz CFO
David Malka EVP, COO

Company Directors

Avner Gal Chairman
Robert Fischell
Leslie Seff
Angela Strand

Service Providers

Accounting/Auditing Firm
Grant Thornton Israel
Levinstein Tower
23 Menachem Begin Road
Tel Aviv, Israel

Legal Counsel
Greenberg Traurig, P.A.
333 2nd Avenue
Miami, FL, 33131
United States

Investor Relations Firm
Not Available

Community Search
Sign In