FRANKLIN, Mass., May 21 /PRNewswire-FirstCall/ -- Echo Therapeutics, Inc. (OTC Bulletin Board: ECTE), a company developing its needle-free Symphony tCGM System as a non-invasive, wireless, transdermal continuous glucose monitoring (tCGM) system and its Prelude SkinPrep System for transdermal drug delivery, announced today that the Chairman of its Scientific Advisory Board, Dr. Robert Langer, a world-renowned engineer at Massachusetts Institute of Technology (MIT) discussed his opinions of the Company’s products and technology in an audio interview with LifeTech Capital institutional research analyst, Steven M. Dunn. Investors and other interested partiesmay listen to Dr. Langer’s comments on Echo Therapeutics at: http://www.lifetechcapital.com/echo.htm
Robert S. Langer is the David H. Koch Institute Professor at MIT (there are 14 Institute Professors at MIT and being an Institute Professor is the highest honor that can be awarded to a faculty member). Dr. Langer has written approximately 1,050 articles. He also has approximately 750 issued and pending patents worldwide. Dr. Langer’s patents have been licensed or sublicensed to over 220 pharmaceutical, chemical, biotechnology and medical device companies. He is the most cited engineer in history. He served as a member of the United States Food and Drug Administration’s SCIENCE Board, the FDA’s highest advisory board, from 1995-2002 and as its Chairman from 1999-2002.
“We are most fortunate to have the distinguished Dr. Langer on our Scientific Advisory Board and I believe it reflects the strength of our technology,” commented Patrick T. Mooney, M.D., CEO, President and Chairman of the Board of Echo Therapeutics. “He recognizes the efficacy and potential that both our needle-free Symphony tCGM System, as a non-invasive, wireless, transdermal continuous glucose monitoring (tCGM) system, and our Prelude SkinPrep System for transdermal drug delivery, can bring to bettering patients’ lives and critical care. He knows how difficult it is to develop the right technology to permeate the tough outer layer of the human skin and is therefore well able to articulate how Prelude incorporates our patented skin permeation control feedback technology with a wireless, hand-held device. It is used to prepare a small area of the skin for the non-invasive biosensor and monitoring components of our Symphony tCGM System or for transdermal drug delivery. We appreciate that he will communicate the advantages of this break-through technology to the public and we welcome the exposure that his interview provides to our products as we prepare them for clinical trials, federal approval and commercialization in the multi-billion dollar marketplace we serve.”
About Echo Therapeutics
Echo is developing the Symphony tCGM System as a non-invasive, wireless, transdermal continuous glucose monitoring system for use in hospital critical care units and for patients with diabetes. Echo is also developing its needle-free Prelude SkinPrep System as a platform technology for enhanced skin permeation for transdermal drug delivery of a wide range of novel topical reformulations of widely-used, FDA-approved products.
About LifeTech Capital
LifeTech Capital is a division of Aurora Capital LLC Member FINRA / SIPC. Aurora Capital LLC is a boutique investment bank and securities firm founded in 1994. Investment banking is comprised of an experienced team of professionals specializing in the life science sector, which utilizes a rigorous process in the selection of investment ideas and investment banking clients. In addition to in-house expertise and experienced personnel, Aurora retains the services of a network of qualified scientific, medical, and other advisors. On the securities and brokerage side of the business, Aurora has teams of knowledgeable and experienced registered representatives with depth of understanding and broad capabilities to meet the challenges of its customers’ investing needs. For more information visit www.auroracapital.com
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 licensees’ ongoing studies, including the 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 licensees’ 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, 2009, 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: | ||
Patrick T. Mooney, M.D. | Jeffrey Stanlis | |
Chairman and Chief Executive Officer | Partner, Hayden IR | |
(508)-530-0329 | (602) 476-1821 | |
SOURCE Echo Therapeutics, Inc.
