Navigation Links
Echo Therapeutics Licenses Needle-Free Prelude SkinPrep System to Ferndale Pharma for Enhanced Delivery of Topical Lidocaine
Date:5/28/2009

FRANKLIN, Mass., May 28 /PRNewswire-FirstCall/ -- Echo Therapeutics, Inc. (OTC Bulletin Board: ECTE) announced today that it has signed a license agreement with Ferndale Pharma Group ("Ferndale"), under which Echo granted Ferndale the right to develop, market, sell and distribute Echo's Prelude(TM) SkinPrep System ("Prelude") for painless, needle-free skin preparation prior to the application of topical 4% lidocaine cream for fast-acting, local dermal anesthesia prior to a wide-range of needle-based medical procedures in North America and the United Kingdom. Echo's non-invasive Prelude SkinPrep System incorporates patented skin permeation control technology which allows for quick and painless removal of the outermost layer of the skin for both transdermal drug delivery and glucose measurement.

"Completing this first Prelude licensing agreement was one of our top priorities," stated Patrick T. Mooney, M.D., Chairman and Chief Executive Officer of Echo Therapeutics. "Ferndale is a market leader specializing in advanced skincare and topical therapeutic products. This collaboration combines our skin permeation technology platform and Ferndale's leadership in the fast-growing topical anesthetic market based on LMX4, its topical 4% lidocaine cream."

Dr. Mooney continued, "Importantly, this licensing transaction demonstrates the drug delivery capabilities of Prelude. We believe that there are numerous additional partnering opportunities for both Prelude and our Symphony(TM) tCGM System for needle-free, transdermal continuous glucose monitoring. We are actively engaged with and interested in finding additional partners as we leverage the use of Prelude as a transdermal drug delivery platform and Symphony for continuous glucose monitoring in the many territories around the world."

Michael Burns, Ph.D., President of Ferndale added, "We are extremely excited about using Prelude to expand our presence in the important topical dermal anesthesia market in hospitals, clinics and with plastic surgeons and dermatologists. We expect Prelude to allow much more rapid onset of effectiveness for our topical anesthetic product, thereby significantly increasing the size of our market opportunity."

Under the terms of the agreement, Echo will receive an up-front licensing fee of US $750,000. Echo will also receive $750,000 upon FDA clearance of the product and additional milestone payments based on the achievement of certain net sales targets and guaranteed minimum royalties totaling an additional $12.6 million. Echo will also receive an escalating royalty on net sales of the product. Ferndale will also be responsible for all product development and regulatory costs for the final development of the Prelude SkinPrep System for topical analgesic/anesthetic drug delivery applications.

About Echo Therapeutics

Echo Therapeutics is focused on medical devices and specialty pharmaceuticals. Echo is developing a non-invasive, wireless, transdermal continuous glucose monitoring (tCGM) system for patients with diabetes and for use in hospital critical care units. Echo is utilizing its Prelude SkinPrep platform technology for transdermal drug delivery and is developing a wide range of novel topical reformulations of widely-used, FDA-approved products.

About Ferndale Pharma Group

The Ferndale Pharma Group of companies specializes in the development, manufacture, distribution and marketing of various dermatologic products including prescription topical drugs for the treatment of several acute and chronic dermatoses, medical devices that support and maintain wound closures and an extensive line of proprietary cosmeceutical products. Ferndale's LMX 4 topical analgesic cream uses advanced formulation know how that significantly enhances product performance. LMX 4 is the leading brand in its class and is widely recognized for its fast onset of analgesic action, wide margin of safety and superior ease of use.

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 Prelude SkinPrep System, risks and uncertainties relating to Echo's ability to develop, market and sell diagnostic products based on its skin permeation platform technologies, including the Prelude SkinPrep 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 Prelude SkinPrep 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.

    For More Information:
    Patrick T. Mooney, MD
    Chairman and Chief Executive Officer
    (856) 429-8778

    10 Forge Parkway
    Franklin, MA 02038, USA
    Tel: 1+ 877-476-6878
    Fax: 1+ 508-553-8760
    www.echotx.com


'/>"/>
SOURCE Echo Therapeutics, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. SXC Health Solutions announces agreements for pharmacy technology services with Prime Therapeutics LLC
2. Cephalon Acquires Controlling Interest in Arana Therapeutics
3. Cornerstone Therapeutics Announces Management Change
4. Prospect Therapeutics, Inc.s GCS-100 Exhibits a Low Toxicity Profile in Cancer Patients
5. Fate Therapeutics Adds Pratik Multani, M.D., M.S., as Vice President Clinical Development to Advance Upcoming Clinical Programs of Stem Cell Modulators
6. ImQuest BioSciences and Arisyn Therapeutics Introduce Novel New HCV Therapeutic Agent at Hepatitis Conference
7. Nile Therapeutics Reports 2009 First Quarter Financial Results
8. Oxygen Biotherapeutics, Inc. Signs Cooperative Research and Development Agreement With Naval Medical Research Center and Walter Reed Army Institute of Research
9. Transition Therapeutics Announces Third Quarter Fiscal 2009 Financial Results
10. Medivation to Present at the Leerink Swann Novel Cancer Therapeutics Roundtable Conference
11. Nektar Therapeutics to Present at the Deutsche Bank 34th Annual Health Care Conference in Boston
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/28/2017)... ... ... The Radiology Business Management Association (RBMA) is pleased to announce ... process has been in place since the RBMA was founded in 1968 with all ... Jim Hamilton, MHA, CMM, FRBMA, as president. Dr. Dickerson the chief executive officer for ...
(Date:4/28/2017)... ... April 28, 2017 , ... ... and College of Urgent Care Medicine will host industry leaders for the annual ... will help those in the industry adapt to the issues currently affecting urgent ...
(Date:4/28/2017)... ... , ... Yisrayl Hawkins, Pastor and Overseer at The House of Yahweh in Abilene, Texas, has ... which He does not. Yisrayl says with so many titles and names for the ... he says with a little Scripture, backed with a lot of research, the truth is ...
(Date:4/28/2017)... (PRWEB) , ... April 28, 2017 , ... ... skincare and advanced nutraceutical supplements, through its Nova Skin Sciences division, recently ... hydrating benefits of a moisturizer with the power of an anti-aging concentrate. ...
(Date:4/28/2017)... ... 2017 , ... Christie Medical Holdings, Inc. , with its market-leading ... Medical Inc. , a leader in infusion therapy and pain management. , Intravenous ... percent of hospital patients receiving a peripheral IV catheter as part of their treatment ...
Breaking Medicine News(10 mins):
(Date:4/19/2017)... , Tenn. and DALLAS , April 19, ... Inc., announced that the first patients in ... EndoStim device in the Lower Esophageal Sphincter Stimulation for ... minimally-invasive implantable device designed to provide long-term reflux control ... GERD affects nearly 65 million people in ...
(Date:4/19/2017)... , April 19, 2017  Novartis today announced ... National Heart, Lung, and Blood Institute (NHLBI) of ... 58% of patients with treatment-na├»ve severe aplastic anemia ... treated with eltrombopag at the initiation of and ... study evaluated three sequential treatment groups, or cohorts. ...
(Date:4/18/2017)... 18, 2017 Research and Markets has announced ... report to their offering. ... global arthroscopy devices market to grow at a CAGR of 6.35% ... Devices Market 2017-2021, has been prepared based on an in-depth market ... landscape and its growth prospects over the coming years. The report ...
Breaking Medicine Technology: