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

nt 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 w
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SOURCE Echo Therapeutics, Inc.
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