PHILADELPHIA, April 5, 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 the issuance of patents covering its Prelude SkinPrep System and a notice of allowance for a U.S. patent covering its Symphony tCGM System.
Patents entitled "Skin Permeation Device for Analyte Sensing or Transdermal Drug Delivery" issued to Echo Therapeutics in Australia, Hong Kong, New Zealand, Russia, and 34 European countries. The patents include claims that encompass the Prelude SkinPrep System, which prepares the skin in a controlled, dermabrasive manner to permit either drug delivery or analyte extraction. These patents will expire in 2028.
Additionally, Echo Therapeutics received a notice of allowance for U.S. Patent Application No. 11/223,971, entitled "System and Method for Analyte Sampling and Analysis with Hydrogel". The claims in this application cover certain aspects of the biosensor in the Symphony tCGM System. The patent, when issued, is expected to expire in 2026.
"The issuance of these patents further broadens Echo's already extensive intellectual property portfolio surrounding Prelude and Symphony and represents a valuable asset for Echo," stated Patrick Mooney, M.D., Echo's Chairman and CEO. "Furthermore, we expect additional US and foreign patents to issue this year that will provide our products with long-term market value and will add significantly to our shareholder value."
Echo currently has 6 U.S. patents and over 60 foreign patents. Additionally, over 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 and its partners' 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.
For More Information:
Christine H. Olimpio
Director, Investor Relations and Corporate Communications
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SOURCE Echo Therapeutics, Inc.