Navigation Links
Echo Therapeutics Announces $20 Million Financing with Platinum-Montaur Life Sciences
Date:8/9/2012

PHILADELPHIA, Aug. 9, 2012 /PRNewswire/ -- Echo Therapeutics, Inc. (Nasdaq: ECTE), a company developing its needle-free Symphony® tCGM System as a non-invasive, wireless, transdermal continuous glucose monitoring system and its Prelude® SkinPrep System for transdermal drug delivery, today announced that Platinum-Montaur Life Sciences, LLC (Montaur) will provide Echo a credit facility of up to $20 million. The company believes that this transaction will provide Echo with the capital resources needed to implement Echo's plans to commercialize Symphony.

(Logo: http://photos.prnewswire.com/prnh/20120801/NE50071LOGO )

The commitment letter provides that Echo will be able to borrow up to $5 million initially, at 10% interest per annum.  Upon attaining certain key regulatory and clinical study objectives, the credit facility will increase in $3 million increments, with a maximum increase of $15 million. On closing, Echo will issue Montaur 4 million warrants with a term of five years and an exercise price of $2 per share.  Additionally, Echo will issue 1 million five year warrants per $1 million borrowed, with an exercise price ranging from $2 to $4 per share, depending on the market price of Echo's common stock at the time of the applicable draw. The loan matures five years from the date of closing.

"We are pleased that this new facility allows us to balance our capital structure while attempting to minimize dilution to our shareholders.  We believe the increased liquidity and financial flexibility provided by this financial commitment will enhance our ability to aggressively move Symphony toward regulatory clearance in both Europe and the United States," said Patrick T. Mooney, M.D., Chairman and CEO of Echo Therapeutics.  "Montaur has proven to be a trusted source
'/>"/>

SOURCE Echo Therapeutics, Inc.
Copyright©2012 PR Newswire.
All rights reserved

Page: 1 2 3

Related medicine technology :

1. Cell Therapeutics, Inc. (CTI) to Report First Quarter Financial Results on April 20
2. Faruqi & Faruqi, LLP Encourages Investors Who Suffered Substantial Losses Investing in Chelsea Therapeutics International, Ltd. to Contact the Firm
3. Argos Therapeutics Secures $25 million Series D Financing to Commence Phase 3 ADAPT Study in Patients with Metastatic Renal Cell Carcinoma (mRCC) in Mid-2012
4. Novelos Therapeutics Announces Successful Completion of First Cohort In Lung Cancer Trial With I-124-CLR1404 (LIGHT) Cancer-Targeted PET Imaging Agent at UW Carbone Cancer Center
5. Zacks Industry Outlook Highlights: Eli Lilly, Forest Labs, ViroPharma, Novartis and United Therapeutics
6. Oxford BioTherapeutics Appoints Senior Industry Leader to Head its New Clinical Development Operations in Basel, Switzerland
7. Nektar Therapeutics Reports Financial Results for the First Quarter of 2012
8. Cara Therapeutics Licenses Novel Kappa Opioid Agonist, CR845, to Chong Kun Dang Pharmaceutical Corporation For South Korean Market
9. Frost & Sullivan: High Uptake of New Drug Therapies and Aging Population Expansion Keep the U.S. Retinal Therapeutics Market Buoyant
10. Zenobia Therapeutics, Inc. And BioBlocks, Inc. Announce Sale Of A Joint Fragment Library Ideal For Screening By All Popular Methods
11. New Forecast Shows Global Protein Therapeutics Market to Reach $143.4 Billion by 2015
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/24/2014)... MASON, Ohio , Dec. 23, 2014 /PRNewswire/ ... industry-leading treatment decision support to healthcare providers for ... that it has secured $30 million in equity ... Virginia C. Drosos , President and Chief ... increased clinical adoption and development of Assurex Health,s ...
(Date:12/24/2014)... RALEIGH, N.C. , Dec. 23, 2014 ... plc (NASDAQ: ENDP ) (TSX: ENL), and ... announced today that they have submitted a New Drug ... U.S. Food and Drug Administration (FDA).  Buprenorphine HCl Buccal ... severe enough to require daily, around-the-clock, long-term opioid treatment ...
(Date:12/22/2014)... DUBLIN , Dec. 22, 2014 Research and ... addition of the "US Self-monitoring Blood Glucose Market" ... http://photos.prnewswire.com/prnh/20130307/600769 This market insight focuses ... in the United States . Reimbursement ... studied. Thorough product analyses for more than 73 SMBG ...
Breaking Medicine Technology:Assurex Health Secures $30 Million Financing Round to Continue Growth in Neuropsychiatric Pharmacogenomics 2Assurex Health Secures $30 Million Financing Round to Continue Growth in Neuropsychiatric Pharmacogenomics 3Assurex Health Secures $30 Million Financing Round to Continue Growth in Neuropsychiatric Pharmacogenomics 4Endo Pharmaceuticals and BioDelivery Sciences Announce NDA Submission for Buprenorphine HCl Buccal Film for the Management of Moderate to Severe Chronic Pain 2Endo Pharmaceuticals and BioDelivery Sciences Announce NDA Submission for Buprenorphine HCl Buccal Film for the Management of Moderate to Severe Chronic Pain 3Endo Pharmaceuticals and BioDelivery Sciences Announce NDA Submission for Buprenorphine HCl Buccal Film for the Management of Moderate to Severe Chronic Pain 4Endo Pharmaceuticals and BioDelivery Sciences Announce NDA Submission for Buprenorphine HCl Buccal Film for the Management of Moderate to Severe Chronic Pain 5US Self-monitoring Blood Glucose Market 2
... N.C., March 4, 2011 The pressure for a ... greater with organizations across the pharmaceutical sector facing pipeline ... Facing an ever-changing launch landscape, product launch leaders ... new therapies through the labyrinth of regulatory and marketplace ...
... 2011 Cardica, Inc. (Nasdaq: CRDC ) ... stapling device developed by Cardica has received CE Mark ... marking process, Cardica has obtained a Full Quality Assurance ... this certification, after successful completion of development, Cardica can ...
Cached Medicine Technology:Pharmaceutical Launch Excellence Services Delivers Market Entry Road Map 2Cardica Receives European CE Mark for Initial Microcutter™ Surgical Cutting and Stapling Device 2Cardica Receives European CE Mark for Initial Microcutter™ Surgical Cutting and Stapling Device 3Cardica Receives European CE Mark for Initial Microcutter™ Surgical Cutting and Stapling Device 4
(Date:12/25/2014)... The click strand woven bamboo flooring ... Today, the business announces a click strand woven ... 30, 2015. , Click strand woven bamboo flooring ... a well-known brand in the bamboo industry. It ... reliable bamboo flooring supplier. , “We are happy ...
(Date:12/25/2014)... (PRWEB) December 26, 2014 “Every three months ... market changes. A-line sweetheart evening dress will be one of ... sales manager of Yunx.co.uk says. Today, the company releases 26 ... discounts, up to 80% off. , “We are trying ... unique style with our latest designs. Along with affordable prices, ...
(Date:12/25/2014)... 2014 Recently, BellasDress has ... its wedding dresses. BellasDress has chosen their best-selling lace ... choices for the holiday season. , Now, BellasDress.com ... wedding gowns here at discount prices. The business hopes ... its website. , “All our elegant products ...
(Date:12/25/2014)... 2014 Recently, LunaDress.co.uk has updated its blog to ... accessories. Now, all of the models at LunaDress.co.uk come with big ... lifts the wedding veil can turn out to be a most ... wedding veil can always bring surprise to a wedding. On the ... to choose veils for a big day . , Going ...
(Date:12/25/2014)... Among early stage breast cancer patients who undergo chemotherapy ... will eventually develop leukemia as a result of their ... from a review of more than 20,000 breast cancer ... that the risk for developing treatment-related leukemia, though low, ... "The frequency of bone marrow cancers such as leukemia ...
Breaking Medicine News(10 mins):Health News:BambooFlooringChina.com: click strand woven bamboo flooring promotion valid until Jan. 30, 2015. 2Health News:BellasDress.com’s Christmas Sale: Trendy Wedding Dresses With Big Discounts 2Health News:LunaDress Provides Professional Tips On Shopping Wedding And Prom Dresses 2Health News:Breast Cancer Chemo Tied to Small But Significant Leukemia Risk 2Health News:Breast Cancer Chemo Tied to Small But Significant Leukemia Risk 3
... last week could significantly increase the success rate of ... has indicated that rejection of animal cells and organs ... the presence of the gene alpha 1,3 galactosyl transferase. ... sugar// to the surface of pig cells, flagging them ...
... heart arteries flowing easily after angioplasty shows fantastic success ... the common procedure.Doctors released the longest follow up ... testing on 30 patients over three years, they found ... unheard of in medicine.// ,More than 1 million ...
... Using modern brain imaging techniques, scientists have indicated the ... are going to be stored or deleted. The study ... of Technology (MIT) and reported to the American Association ... ,The researchers coupled a number of different ...
... more precise predictions of a person's risk of a fatal ... journal suggested the test, which measures levels of the protein ... trouble than traditional cholesterol tests and may one day lead ... of the strongest risk factors for developing coronary artery disease ...
... will probably have to depend on current anthrax vaccines ... Second-generation vaccines are in the works but not ready. ... to go, approved by the FDA.// ,The government ... anthrax vaccine to resume shipping after four years in ...
... lines could aggregate genetic abnormalities over time and new ... Dr.Vogelstein, chairman of a key stem cell research committee ... the current stem cell lines are problematic because ... cell divide in a tissue culture it accumulates mutations. ...
Cached Medicine News:Health News:Xenotransplantation “breakthrough” 2Health News:A ray of hope in Angioplasty dilemma 2Health News:Blood Test May help Heart Prediction 2Health News:New Stem Cells lines will be required 2
... with concave seats and standard-sized backrests ... like seats, backrests, armrests, and casters ... recommended for the following environments: industry, ... health care and office. • With ...
... Basic ergonomic chairs with concave seats ... • Select options like seats, backrests, ... BTN/1Q-CAB chairs are recommended for the ... room, static control, health care and ...
... Basic ergonomic chairs with concave ... support • Select options like seats, ... • BTN/1Q-CAB chairs are recommended for ... clean room, static control, health care ...
... with concave seats and standard-sized backrests ... like seats, backrests, armrests, and casters ... recommended for the following environments: industry, ... health care and office. • With ...
Medicine Products: