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Echo Therapeutics Provides Business Update
Date:12/29/2009

ommercially ready Symphony system, which we believe will be the basis for us to receive FDA approval for Symphony. In addition, we anticipate the completion of a clinical trial by Ferndale using the Prelude SkinPrep system for a reduced time and enhanced delivery of lidocaine. This will result in a near-term filing of a 510k application with the FDA. These events will enable us to begin manufacturing scale-up for product validation and planned product launch in 2010."

In addition, Echo anticipates:

  • Building an internal management team for product launch;
  • Achieving AMEX or Nasdaq listing; and
  • Completing additional strategic partner licensing arrangements.

"The last year was one of significant accomplishment and progress against the backdrop of a very tough macroeconomic climate. Through much hard work, we believe that we have set the stage for an exciting and productive 2010," Dr. Mooney continued. "Looking forward, royalties on Prelude disposables and lidocaine sales provide near-term revenue opportunity for Echo. We look forward to working with Ferndale to grow the topical anesthetic market in the US and UK and generating cash flow for Echo in 2010. Additionally, we are positioned to be 'first-to-market' with tCGM in the hospital critical care market and we estimate that the hospital market opportunity for continuous glucose monitoring is greater than $1 billion. In addition, we plan to develop the Symphony product for use in the consumer market, providing additional upside potential and partnership possibilities in this more than $10 billion market opportunity."

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 enha
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SOURCE Echo Therapeutics, Inc.
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