PHILADELPHIA, June 20, 2012-- 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 the receipt of a notice of allowance for a patent application covering its Prelude SkinPrep System and a notice of issuance for a patent covering its Symphony tCGM System.
Echo Therapeutics received notice that its U.S. Patent Application No. 10/792,862 entitled "Method and Apparatus for Enhancement of Transdermal Transport" has been allowed. Echo Therapeutics also received notice that its patent application entitled "Transdermal Analyte Monitoring Systems and Methods for Analyte Detection" issued as Russian Patent No. 2444980 and will expire in 2028 if all maintenance fees are timely paid.
"These new patents strengthen our patent portfolio for our non-invasive, glucose monitoring technology," said Patrick T. Mooney, M.D., Echo's Chairman and CEO. "We believe that our intellectual property portfolio will provide our products with long-term market protection and will add to shareholder value in the near- and long-term."
These patents join seven U.S. patents and nearly 70 foreign patents already obtained by Echo Therapeutics. Approximately 30 patent applications by Echo are pending in the U.S. and foreign countries.
About Echo Therapeutics
Echo Therapeutics is developing the Symphony tCGM System as a non-invasive, wireless, transdermal continuous glucose monitoring system for patients with diabetes and for use in hospital critical care units. Echo is also developing its needle-free Prelude SkinPrep System as a platform technology for enhanced skin permeation for delivery of topical pharmaceuticals.
Cautionary Statement Regarding Forward Looking Statements
The statements in this press release that are not historical facts may constitute forward-looking statements that are based on current expectations and are subject to risks and uncertainties that could cause actual future results to differ materially from those expressed or implied by such statements. Those risks and uncertainties include, but are not limited to, risks related to regulatory approvals and the success of Echo's ongoing studies, including the safety and efficacy of Echo's Symphony tCGM and Prelude SkinPrep Systems, the failure of future development and preliminary marketing efforts related to Echo's Symphony tCGM and Prelude SkinPrep Systems, Echo's ability to secure additional commercial partnering arrangements, risks and uncertainties relating to Echo's and its partners' ability to develop, market and sell diagnostic and transdermal drug delivery products based on its skin permeation platform technologies, including the Symphony tCGM and Prelude SkinPrep Systems, the availability of substantial additional equity or debt capital to support its research, development and product commercialization activities, and the success of its research, development, regulatory approval, marketing and distribution plans and strategies, including those plans and strategies related to its Symphony tCGM and Prelude SkinPrep Systems. These and other risks and uncertainties 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-K for the year ended December 31, 2011, its Quarterly Reports on Form 10-Q, and its Current Reports on Form 8-K. Echo undertakes no obligation to publicly update or revise any forward-looking statements.