Navigation Links
Echo Therapeutics and Cato BioVentures Sign Right of First Offer Agreement for Dermatology Products and Transdermal Drug Delivery Technologies
Date:4/21/2008

FRANKLIN, Mass., April 21 /PRNewswire-FirstCall/ -- Echo Therapeutics (OTC Bulletin Board: ECTE) today announced that it has signed a dermatology product and transdermal drug delivery technology right of first offer agreement with Cato BioVentures, the venture capital affiliate of Cato Research, a global contract research and development organization. The agreement grants Echo exclusive rights of first negotiation to all dermatology product and transdermal drug delivery technology opportunities identified or acquired by Cato BioVentures.

"This agreement expands our long-standing strategic relationship with Cato BioVentures and Cato Research and enables us to leverage their deep industry access to a wide range of business development opportunities in our core focus areas," said Patrick Mooney, M.D., Echo's Chairman and CEO. "Cato is familiar with our core transdermal platforms--AzoneTS(TM) for drug reformulation and the Symphony tCGM System for non-invasive continuous glucose monitoring--and understands our model to leverage those platforms internally and with product and technology acquisition opportunities that fit our model."

"As a 20-year old company with a broad network of industry and regulatory contacts worldwide, we have access to dozens of high-quality drug and technology development opportunities each year, many of which could be commercially relevant to Echo's strategic plan," said Allen Cato, M.D., Ph.D., Principal of Cato BioVentures and co-founder and Chief Executive Officer of Cato Research. "This agreement allows us to leverage the expertise of Echo's management team and its market resources to assess and potentially access efficiently and cost-effectively select drug and technology development opportunities that could add value to our companies."

About Echo Therapeutics

Echo Therapeutics is focused on transdermal medical devices and specialty pharmaceuticals. Echo is developing a non-invasive (needle-free), wireless, transdermal continuous glucose monitoring (tCGM) system for people with diabetes and for use in hospital critical care units. Echo is also developing a wide range of proprietary transdermal reformulations of FDA-approved pharmaceutical products.

About Cato BioVentures

Cato BioVentures is the venture capital affiliate of Cato Research Ltd., a global contract research and development organization. For 20 years, Cato BioVentures has assisted entrepreneurs and established management teams in building successful pharmaceutical and biotechnology companies. Through strategic CRO service agreements with Cato Research, Cato BioVentures invests its in-kind CRO Service Capital(TM) in innovative products and technologies, giving promising companies immediate access to a broad range of essential CRO services on a noncash basis.

About Cato Research

Founded in 1988 by Dr. Allen Cato and Lynda Sutton and headquartered near Research Triangle Park, Cato Research is a global full-service contract research and development organization (CRO) providing strategic and tactical support for clients in the pharmaceutical, biotechnology and medical device industries. Cato Research has a staff of over 300 located in offices in the United States, European Union, Canada, Israel, and South Africa.

Cautionary Statement Regarding Forward Looking Statements

Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward- looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks related to Echo's or its partners' ability to identify and obtain additional dermatology product candidates or transdermal drug delivery technologies. In addition, Echo's products and eventual commercialization of its products are subject to all of the risks and uncertainties set forth in its periodic reports filed with the Securities and Exchange Commission. These and other factors 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-KSB for the year ended December 31, 2007, its quarterly reports on Form 10-Q, and its current reports on Form 8-K. The foregoing list of factors is not exhaustive. Echo Therapeutics, Inc. undertakes no obligation to publicly update or revise any forward-looking statements.

Investor Relations Contacts:

Patrick T. Mooney, M.D.

Chairman & CEO

Echo Therapeutics

508.530.0329

Lilian Stern

Stern Investor Relations

212.362.1200


'/>"/>
SOURCE Echo Therapeutics
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Prime Therapeutics Receives TIPPS Certification
2. Adams Respiratory Therapeutics to Celebrate 10th Anniversary of its Incorporation on September 12
3. Transition Therapeutics Announces Fiscal 2007 Year End Financial Results
4. Lorus Therapeutics announces election of three new Directors and appoints a new Chairman
5. Deane F. Johnson Center for Neurotherapeutics to Launch First Mobile Medical Unit on October 4th
6. Russell Investment Group Advises Protalix Biotherapeutics of Index Adjustment
7. Adams Respiratory Therapeutics Announces FDA Approval of Grape-Flavored Delsym(R)
8. Prime Therapeutics Announces URAC Accreditation
9. Cell Therapeutics, Inc. (CTI) to Present at BIO Investor Forum
10. Horizon Therapeutics, Inc. Scheduled to Present at Upcoming BioPartnering Europe Meeting
11. Sontra Medical Corporation Changes Name to Echo Therapeutics, Inc.
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/13/2016)... ... February 13, 2016 , ... Good news ... first in the area to offer AngioPlex™ Optical Coherence Tomography (OCT) Angiography, imaging ... as macular degeneration, diabetic retinopathy, and other vascular conditions. , In just a ...
(Date:2/13/2016)... ... February 13, 2016 , ... Many individuals looking to lead a ... multitude of reasons. IsoPasta by Isolator Fitness has delved into this niche allowing ... without the high-carb repercussions. IsoPasta has 30 grams of protein and only 7 ...
(Date:2/13/2016)... ... February 13, 2016 , ... Christie Medical ... in-kind gift of a VeinViewer® Vision vein finder for the nursing ... start an IV and draw blood, combining technology with traditional technique. , “VeinViewer ...
(Date:2/12/2016)... ... 2016 , ... According to an article published February 4th on ... portion of hernia repairs throughout the United States. Commenting on this article, Beverly Hills ... this trend has not only been expected, but it seems to be a natural ...
(Date:2/12/2016)... Raton, FL (PRWEB) , ... February 12, 2016 ... ... largest non-profit organization devoted exclusively to funding innovative lymphoma research and serving the ... services – hosted over 250 members of South Florida’s philanthropic community at its ...
Breaking Medicine News(10 mins):
(Date:2/12/2016)... 2016  OMS Supply, a large provider of oral ... today the recent launching of their new company website. ... features that enhance the user experience and enable practitioners ... --> --> Despite the ... that started in early 2016, they have already made ...
(Date:2/11/2016)... -- - Cardiac Marker Diagnostic Testing ... Cancer Therapy. - European Point of Care Diagnostic ... - Key Diagnostic Testing Markets. - Molecular Diagnostics ... Testing. - Molecular Diagnostics in Infectious Disease Testing. ... Products World Markets. - Point of Care Diagnostic ...
(Date:2/11/2016)... 11, 2016  Kindred Biosciences, Inc. (NASDAQ: KIN ... the lives of pets, today announced the submission to ... Animal Drug Application (NADA) for Zimeta™ (dipyrone injection, KIND-012).  ... of Zimeta for the control of pyrexia (fever) in ... --> --> The Chemistry, Manufacturing, ...
Breaking Medicine Technology: