Last $1.54 USD
Change Today +0.0416 / 2.77%
Volume 80.9K
ECTE On Other Exchanges
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Stuttgart
As of 8:10 PM 12/26/14 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

8 Penn Center

1628 JFK Boulevard

Suite 300

Philadelphia, PA 19103

United States

Phone: 215-717-4100

Fax:

Echo Therapeutics, Inc. operates as a medical device company with expertise in advanced skin permeation technology. The company is developing its Symphony CGM System (Symphony) as a non-invasive, wireless continuous glucose monitoring (CGM) system for use in hospital critical care units. The Symphony SkinPrep System (SkinPrep), a component of its Symphony CGM System, allows for enhanced skin permeation that enables extraction of analytes, such as glucose. Products Medical Device Products Continuous Glucose Monitoring The company’s primary medical device program is Symphony, a non-invasive (needle-free), wireless, continuous glucose monitoring system designed to provide real-time glucose data. The Symphony CGM System incorporates its SkinPrep device, transdermal glucose sensor, wireless transmitter, and data display monitor. After the skin is prepared, the electro-chemical glucose sensor is placed on the prepared site. The glucose sensor uses glucose oxidase to generate a continuous current that is proportional to the concentration of blood glucose in the vessels beneath the epidermis. The signals are then wirelessly transmitted to a monitor. The monitor, calibrated periodically with a reference blood glucose measurement, converts the data to a glucose measurement using a proprietary algorithm. The monitor displays glucose readings and rates of increase and decrease, and also contains customizable early-warning alarms for hypo- or hyperglycemia. The company has a license agreement with Handok Inc., a pharmaceutical/healthcare company in Korea with a core business focus in diabetes, cardiovascular, oncology, human vaccines, medical devices, diagnostics, and consumer health. Under the terms of the agreement, the company granted Handok Inc. the right to develop, market, sell and distribute Symphony to medical facilities and individuals in South Korea. Drug Delivery The company’s skin preparation device might also have application in the transdermal drug delivery market. The localized removal of the stratum corneum created by the device might potentially provide a skin permeation process for the delivery of various topical pharmaceuticals. The company has a licensing agreement with Ferndale Pharma Group, Inc. (Ferndale), a group of companies that specialize in the development, manufacture, distribution, and marketing of various dermatologic products. Under the terms of the agreement, the company granted Ferndale the right to develop, market, sell, and distribute the company’s Prelude SkinPrep System device for skin preparation prior to the application of topical anesthetics or analgesics prior to a range of needle-based medical procedures. In addition to the original territory of North America and the United Kingdom, the license agreement was amended in 2012 to cover South America, Australia, New Zealand, Switzerland, and portions of the European Community. Specialty Pharmaceutical Products The company’s transdermal drug reformulation platform, AzoneTS, is a penetration enhancer at low concentration levels. The company’s AzoneTS has the potential to expand the number of drugs that could be delivered transdermally in various therapeutic categories. Its advanced drug candidate is Durhalieve, an AzoneTS formulation of triamcinolone acetonide, a medium potency corticosteroid approved by the FDA for treatment of corticosteroid-responsive dermatoses. Durhalieve has completed Phase 3 clinical trials, and in order to obtain FDA approval, the company must satisfy certain clinical and manufacturing development requirements outlined by the FDA when they last reviewed the Durhalieve New Drug Application. Research and Development The company’s R&D expenses were approximately $11,299,000 for the year ended December 31, 2013. Intellectual Property As of March 7, 2014, the company had 9 issued U.S. patents and approximately 70 issued foreign patents; and had 13 U.S. patent applications and approximately 23 foreign patent applications pending. The company’s pharmaceutical patents and medical device patents begin expiring in 2019. History Echo Therapeutics, Inc. was founded in 1989.

 

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