Echo Therapeutics Announces Significant Advance in Development of its One-Piece, Needle Free Symphony tCGM Biosensor
FRANKLIN, Mass., Oct. 29 /PRNewswire-FirstCall/ -- Echo Therapeutics, Inc. (OTC Bulletin Board: ECTE), a diabetes management company developing the needle-free Symphony™ tCGM System as a non-invasive, wireless, transdermal continuous glucose monitoring (tCGM) system and the Prelude™ SkinPrep System for transdermal drug delivery, announced today that it has made significant advances to the development of its needle-free Symphony tCGM biosensor. The biosensor replaces the prototype two-piece biosensor used in earlier clinical trials and is designed to offer a one-piece, cost-effective, single-use biosensor with improved performance for use by consumers and healthcare providers.
"We are extremely pleased to announce this next step in the product development work on our one-piece biosensor, a critical component of Symphony, our needle-free, continuous glucose monitoring technology," stated Patrick T. Mooney, M.D., Chairman and CEO of Echo Therapeutics. "This next generation one-piece biosensor introduces new materials and a more effective geometrical construction and replaces the prior prototype two-piece biosensor used in earlier clinical trials. We believe that this new one-piece design will significantly reduce manufacturing costs, enabling the Company to offer a low-cost product. We also believe that this design will lead to improved continuous monitoring performance since a one-piece biosensor eliminates a primary source of the motion artifact seen with the earlier prototype two-piece biosensor. We look forward to testing this new and improved biosensor in a clinical trial in the near term and confirming the performance attributes observed in internal testing."
The new one-piece biosensor utilizes new materials and effective geometry design. It is intended to be a cost-effective product that allows for advanced continuous glucose monitoring performance for consumers and healthcare providers.
About Echo Therapeutics
Echo Therapeutics is focused on medical devices and specialty pharmaceuticals. Echo is developing the Symphony tCGM System as a non-invasive, wireless, transdermal continuous glucose monitoring system for patients with diabetes and for use in hospital critical care units. Echo is also developing its needle-free Prelude SkinPrep System for transdermal drug delivery of a wide range of novel topical reformulations of widely-used, FDA-approved products.
Cautionary Statement Regarding Forward Looking Statements
The statements in this press release that are not historical facts may constitute forward-looking statements that are based on current expectations and are subject to risks and uncertainties that could cause actual future results to differ materially from those expressed or implied by such statements. Those risks and uncertainties include, but are not limited to, risks related to regulatory approvals and the success of Echo's ongoing studies, including the efficacy of Echo's Symphony tCGM System, the failure of future development and preliminary marketing efforts related to Echo's Symphony tCGM System, Echo's ability to secure additional commercial partnering arrangements, risks and uncertainties relating to Echo's ability to develop, market and sell diagnostic and transdermal drug delivery products based on its skin permeation platform technologies, including the Symphony tCGM System, the availability of substantial additional equity or debt capital to support its research, development and product commercialization activities, and the success of its research, development, regulatory approval, marketing and distribution plans and strategies, including those plans and strategies related to its Symphony tCGM System. These and other risks and uncertainties are identified and described in more detail in Echo's filings with the Securities and Exchange Commission, including, without limitation, its annual report on Form 10-K for the year ended December 31, 2008, its quarterly reports on Form 10-Q, and its current reports on Form 8-K. Echo Therapeutics, Inc. undertakes no obligation to publicly update or revise any forward-looking statements.
SOURCE Echo Therapeutics, Inc.