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Echo Therapeutics (OTCBB: ECTE) is a medical device and specialty pharmaceuticals company focused on next-generation transdermal continuous glucose monitoring (tCGM) systems for people with diabetes and improved topical reformulations of FDA-approved products.
Echo's Symphony™ tCGM System is a non-invasive (needle-free), wireless tCGM system designed to provide reliable, on-demand blood glucose data to diabetes patients and hospital critical care professionals conveniently, continuously and cost-effectively. Symphony incorporates Echo's patented feedback mechanism for optimal skin permeation control and its continuous transdermal biosensor and transmitter technologies. With Symphony, Echo is focused on changing the current paradigm of invasive (requiring needles), episodic glucose testing with a new standard of care involving needle-free, continuous transdermal technology that offers improved patient compliance to frequent glucose testing and better overall glucose control for people with diabetes and critically ill patients in hospitals worldwide.
Echo's specialty pharmaceuticals pipeline leverages its proprietary AzoneTS™ transdermal reformulation technology. Echo is developing a wide range of AzoneTS-based topical reformulations of FDA-approved products, most in accordance with the FDA's Section 505(b)(2) guidelines. Echo's lead AzoneTS product candidate is Durhalieve™, an AzoneTS topical reformulation of triamcinolone acetonide in development for treatment of corticosteroid responsive dermatoses and keloid scaring. Durhalieve, as a potential treatment for corticosteroid-responsive dermatoses, is covered by Echo’s New Drug Application (NDA) on file with the FDA.
Value Proposition
Echo is developing next-generation product candidates for multiple large markets, including the diabetes and hospital critical care markets. The global glucose monitoring market is estimated at $7 billion and growing, with high demand for new easy-to-use and low-cost technologies. With their Symphony™ system, Echo Therapeutics addresses a large void in the market for a needle-free, wireless, continuous glucose monitoring system. Echo’s Symphony™ tCGM System has positive pilot and clinical studies that strongly support the accuracy and performance of the system in both diabetes home use and hospital critical care settings. Echo’s specialty pharmaceuticals pipeline is anchored by Durhalieve™, a product candidate covered by Echo’s NDA on file with the FDA for the treatment of corticosteroid-responsive dermatoses. Durhalieve™ has potential annual revenues of $250 million to treat dermatoses, and $300 million for the treatment of keloid scarring. Echo has a strategic relationship with a heavyweight partner, Cato Research (www.cato.com), an internationally known contract research organization (CRO), and its venture capital affiliate, Cato BioVentures, one of Echo’s largest shareholders, that will help develop its pipeline efficiently and cost-effectively. With its seasoned management team, tremendous pipeline of products, and the leverage from a strategic relationship with a global CRO, Echo Therapeutics is positioned for explosive growth.
Investment Highlights
• On March 13, 2008, Echo announced positive results from its clinical study, conducted at Tufts Medical Center in Boston , of its Symphony tCGM System, a novel non-invasive, transdermal glucose monitoring system for diabetes home use and hospital critical care markets. Because of this news, the stock jumped 45 cents from $1.45 to $1.90 in one day. Complete news: http://biz.yahoo.com/prnews/080313/neth041.html?.v=46 • Strategic development relationship with Cato Research, a global, full-service contract research organization established in 1988. Cato BioVentures, the venture capital affiliate of Cato Research, is Echo’s largest institutional investor. • $2.3 million private financing with Montaur Capital through Platinum Long Term Growth VII, LLC. • The emerging market of hospital critical care is projected to grow to $500 million by 2010 with physicians now viewing glucose levels as a new vital sign.
Echo Therapeutics, Inc. was founded in 1989 and is based in Franklin , Massachusetts .
Shares Outstanding: Approximately 18. Million shares Market Cap: $36.09 M Float: 7.6 M % Held by Insiders1: 63.14%
Echo Therapeutics, Inc 10 Forge Parkway Franklin, MA 02038 USA 508.553.8850 - Telephone 508.553.8760 - Fax Web Site: http://www.echotx.comPosts: 51 | Registered: Feb 2007
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