GlucoTrack (GCTK) has completed its merger with Lokahi Therapeutics, establishing a platform to identify, acquire, and advance healthcare assets.

The combined organization integrates Lokahi's late-stage clinical development program and artificial intelligence-driven asset-sourcing platform with Glucotrack's technology infrastructure to "create a scalable, repeatable framework for value creation," according to a statement late Tuesday.

Following the closing of the deal, Lokahi securityholders will hold about 90% of the combined company on a fully diluted basis. The transaction is supported by a planned private placement financing designed to strengthen the combined company's capital position.

Shares of GlucoTrack jumped 38% in Wednesday's premarket activity.