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Echo Therapeutics Expands License Agreement with Ferndale Pharma
Date:7/11/2012

PHILADELPHIA, July 11, 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 it signed an amended license agreement with Ferndale Pharma Group, Inc. ("Ferndale") that grants Ferndale the right to develop, market and sell Prelude for painless, needle-free skin preparation prior to the application of topical 4% lidocaine cream for fast-acting, local dermal anesthesia prior to a wide-range of needle-based medical procedures.  In addition to the original territory of North America and the United Kingdom, the amended license agreement covers South America, Australia, New Zealand, Switzerland and portions of the European Community.

"We are pleased to extend our collaboration with a valued and longstanding partner.  Since 2009, Echo and Ferndale have worked closely together to combine our platform skin permeation technology with Ferndale's leadership in the topical anesthetic market based on its topical 4% lidocaine cream," said Patrick T. Mooney, M.D., Echo's Chairman and CEO.  "We believe this expanded agreement will add significant value to Ferndale's worldwide market leadership efforts."

Michael Burns, Ph.D., Ferndale's President added, "We are looking forward to our expanded relationship with Echo and to using Prelude to increase our market share worldwide throughout the important topical dermal anesthesia market.  We believe the efficacy of Prelude in enhancing the onset of activity of 4% lidocaine cream was determined in our clinical studies."

Under the terms of the amended agreement, Echo will receive milestone payments upon Ferndale's receipt of regulatory clearance in certain countries of the territo
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SOURCE Echo Therapeutics, Inc.
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