FRANKLIN, Mass., Dec. 10 Echo Therapeutics, Inc. (OTC Bulletin Board: ECTE), a company developing its needle-free Symphony(TM) tCGM System as a non-invasive, wireless, transdermal continuous glucose monitoring (tCGM) system and its Prelude(TM) SkinPrep System for transdermal drug delivery, announced today it has retained Hayden IR, a national, New York-based investor relations consulting firm, to develop and implement a strategic investor relations campaign.
"I am pleased to announce that we have entered into a consulting agreement with Hayden IR to help us maximize shareholder value," commented Patrick T. Mooney, M.D., Chairman and Chief Executive Officer of Echo Therapeutics. "We believe that we are poised to have a transformative year in 2010 as we complete the development and clinical validation process for Prelude SkinPrep, our skin permeation platform technology, and Symphony tCGM, our needle-free continuous glucose monitoring technology, and pursue regulatory approval of our first two indications. Hayden IR and Echo will implement a comprehensive, customized approach which will concisely communicate the performance, strategic vision, reputation and competitive strengths of Echo Therapeutics to professional investors across the country."
With offices in New York, Phoenix, Minneapolis and San Diego, Hayden IR provides a comprehensive range of investor relations services to a growing list of clients. For more than a decade, Hayden IR has been a recognized leader in driving market recognition and creating sustainable competitive advantages for more than 100 micro- and small-cap companies. Hayden delivers expertise and professionalism in such areas as investor management, relationship building, awareness campaigns, online presence and corporate identity.
Jeffrey Stanlis, Partner at Hayden IR, added, "Echo Therapeutics is poised to provide proven, much sought after needle-free, continuous and painless solutions for the monitoring of glucose levels, and the Company's skin permeation platform technology holds significant potential beyond the large diabetes and critical care markets. Other companies, with more limited offerings relying on needle technologies, are valued at robust enterprise value to EBITDA multiples, while the market has not yet afforded Echo Therapeutics any premium despite the impressive technology and tremendous market potential Echo has developed. Hayden IR believes this represents a unique and compelling investment opportunity and we are excited to share this story with our database of contacts."
About Echo Therapeutics
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 as a platform technology for enhanced skin permeation 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 and Prelude SkinPrep Systems, the failure of future development and preliminary marketing efforts related to Echo's Symphony tCGM and Prelude SkinPrep Systems, 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 and Prelude SkinPrep Systems, 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 and Prelude SkinPrep Systems. 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 undertakes no obligation to publicly update or revise any forward-looking statements.
SOURCE Echo Therapeutics, Inc.