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Echo Therapeutics Announces Pricing of $5.4 Million Registered Direct Equity Financing
Date:12/6/2011

PHILADELPHIA, Dec. 6, 2011 /PRNewswire/ -- Echo Therapeutics, Inc. (Nasdaq: ECTE), a company developing the Symphony® tCGM System as a non-invasive, wireless, transdermal continuous glucose monitoring (tCGM) system and the Prelude® SkinPrep System for transdermal drug delivery, today announced a registered direct equity financing of approximately $5.4 million by issuing units, with each unit consisting of one share of its common stock and a warrant to purchase 0.4 of a share of its common stock.  The company has entered into purchase agreements with current investors and other select institutional and strategic investors to buy a total of approximately 2.4 million units at a price of $2.25 per unit. 

The offering is expected to close on or about December 7, 2011, subject to customary closing conditions.  Each warrant will have an exercise price of $3.00 per share, will be exercisable six months after the date of issuance and will expire three years from the date of issuance.  The shares of common stock and warrants are immediately separable and will be issued separately.

The company conducted the financing without the services of a placement agent or underwriter.

The securities described above are being offered by Echo Therapeutics pursuant to a shelf registration statement previously filed with, and declared effective by, the Securities and Exchange Commission (the "SEC").  A prospectus supplement relating to the offering has been filed with the SEC and is available on the SEC's website located at www.sec.gov.  Copies of the prospectus supplement and the accompanying prospectus relating to this offering may be also obtained from Echo Therapeutics, Inc., 8 Penn Center, 1628 JFK Blvd., Suite 300, Philadelphia, Pennsylvania 19103, Attention: Kimberly Burke, General Counsel, e-mail: '/>"/>

SOURCE Echo Therapeutics, Inc.
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