Source: GlobeNewswire (MIL-NZ-AU)
MELBOURNE, Australia, Sept. 13, 2021 (GLOBE NEWSWIRE) — Gelteq Pty Ltd, a global leader in ingestible gel technology for healthcare, nutrition and sports, has been granted a U.S. patent (No. 10,983,132) by the U.S. Patent and Trademark Office. As the company’s first U.S. patent, it covers Gelteq’s GTT Gel™ and the product technology and methods for testing human response to oral glucose loads using a proprietary gel-based delivery system.
The innovative diabetes diagnostic system is designed for pathology labs and home testing. It is based on Gelteq’s unique technology that can “gelify” a wide range of ingredients to create an easily ingestible formulation for many applications, including nutraceuticals, pharmaceuticals and plant-based compounds.
The proprietary-formulated GTT Gel provides several benefits for diabetes diagnostic testing, including masking the strong sugar taste of the test ingredients, reducing the volume needed to be consumed, creating a more accurate dosage, and supporting better absorption in the gastrointestinal system. Gelteq is preparing to launch a mobile Diabetes screening kit in the U.S. in the first quarter of 2022, making it available to hospitals, labs, medical centers and pharmacies nationwide.
“This U.S. patent provides strong protection for our revolutionary gel technology and our highly differentiated gel science, particularly for the critical field of diabetes testing,” stated Gelteq CEO, Nathan Givoni. “Early diagnosis of prediabetes or diabetes is crucial for the best treatment and outcomes, and patient compliance and testing accuracy are key. Our GTT Gel addresses this need in a unique way that is superior to traditional approaches.”
The market entry of GTT Gel will be timely, as according to a 2020 report by the U.S. Department of Health and Human Services, more than 34 million people, or 10.5% of the U.S. population, suffer from diabetes, with 22% currently undiagnosed. Further, 88 million adults are believed to be prediabetic, totaling more than a third of the U.S. adult population.
However, with proper early detection and diagnostic systems, 90% – 95% of diabetes cases could be prevented or delayed through nutrition, lifestyle changes and pharmacological interventions, according to the American Diabetes Association.
“Diabetes testing is just one of many applications of our technology, as our ingestible gels have the potential to replace traditional oral delivery systems across multiple markets in addition to healthcare, including nutrition, sports, exercise and pet care,” added Givoni. “We see the markets for these applications to be tremendously vast and growing.”
The GTT Gel Advantage
The oral glucose tolerance test (OGTT) and oral glucose challenge test (OGCT) are used by clinicians to detect diabetes, insulin resistance or other disorders of glucose metabolism. These tests take blood samples from patients at different time intervals ranging from zero to two hours after drinking a measured dose of a glucose solution. The taste of the high glucose solution is unpleasant and can present many complications, including nausea, bloating, gastrointestinal pain and vomiting.
Gelteq recognized a substantial component of the unpleasantness resides in the strong sweet taste as the formulation is ingested, and with its new gel technology, this can be improved without resorting to solid dosage forms which have their own set of drawbacks. GTT Gel provides a revolutionary ingestible delivery vehicle for carbohydrate dosages that eliminates the negative side effects of traditional delivery systems, and accelerates the release into the body with greater accuracy.
Monash University and Medicines Manufacturing Innovation Centre (MMIC), Australia’s leading research center for pharmaceutical science, collaborated with Gelteq to develop and test this new gel system and various formulations. Another complimentary and related formulation that has been created is Gelteq’s Hypogel™, a fast-releasing glucose gel which can be used for those suffering from hypoglycemia.
Gelteq is planning launches for these products in the U.S. and other global markets which are expected to experience strong growth. The world market for diabetes diagnostics is projected to grow at an 8.1% CAGR from $26.4 billion in 2020 to $45.6 billion by 2027. The diabetes management market is expected to climb even faster at a 26.6% CAGR, from $6.03 billion in 2020 to $12.1 billion by 2023.
About Gelteq
Gelteq is a global leader in the revolutionary science of ingestible, gel-based medications, nutraceuticals and sports energy. The company’s proprietary technology can gelify virtually any substance to create easily ingestible formulations. Developed and supported by clinical research in collaboration with world-leading universities, the gels have many superior attributes compared to other methods of oral delivery, such as pills and tablets. Gelteq markets its products through licensed manufacturing partnerships, global distributors and resellers. To learn more, visit gelteq.com.
Important Caution Regarding Forward Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include but are not limited to statements regarding the future sales of Gelteq Pty Ltd (the “Company”), the development of new applications for its technology, and the growth of the markets in which the Company’s products are marketed or sold. These forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. Actual results and the timing of events could differ materially from those anticipated in the forward-looking statements as a result of such risks and uncertainties, which include, without limitation; general economic conditions and economic uncertainty in the global markets; current and continuing trends in the Company’s industry; whether the Company’s products will achieve market acceptance and gain market share; continued protection of any of Company’s intellectual property; legal, regulatory, political and economic risks; highly competitive markets; Company ability to deliver its products and/or services to the market and to meet customer expectations due to unanticipated problems; and other risk factors which could cause our actual results or performance to differ materially from those contemplated in such forward-looking statements. You are urged to consider these factors carefully in evaluating the forward-looking statements contained herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by these cautionary statements, and the foregoing factors are not exhaustive. Forward-looking statements or information in this press release are made as of the date hereof and the Company disclaims any intent or obligation to update publicly or otherwise such forward-looking statements or information.
Company Contact:
Simon Szewach
Executive Chairman
Gelteq Pty Ltd
Tel +61 3 9087 3990
Email Contact
Investor Relations Contact:
Ron Both or Justin Lumley
CMA Investor Relations
Tel +1 (949) 432-7566
Email Contact
– Published by The MIL Network
