FRANKLIN, Mass., April 12, 2011 /PRNewswire/ -- Echo Therapeutics, Inc. (OTCBB: ECTE), a company developing the Symphony™ tCGM System as a non-invasive, wireless, transdermal continuous glucose monitoring (tCGM) system and the Prelude™ SkinPrep System for transdermal drug delivery, today announced that it received a notice of allowance for U.S. Patent Application No.11/275,038, "System and Method for Continuous Non-Invasive Glucose Monitoring," for the Symphony tCGM System.
The patent, describing the method of use for the Symphony tCGM System in the hospital critical care setting, has been allowed in the United States and is expected to issue in the next few months. The patent will expire in December 2025.
"Building on our positive fundamentals, we are excited to be issued this notice of allowance for a key component of our intellectual property portfolio," stated Patrick Mooney, M.D., Echo's Chairman and CEO. "This patent is critical to our intellectual property strategy for protecting our leading position in non-invasive, tCGM markets worldwide. Furthermore, we expect several additional patents to issue this year worldwide for both our Prelude SkinPrep System and our Symphony System as we build a solid foundation for future growth. We expect these patents will add significantly to our shareholder value in both the near- and long-term."
The patent application describes the continuous monitoring of glucose in a critical care environment. It describes a device that graphs a patient's glucose over time, provides for hypo- and hyperglycemic alarms, displays the glucose trend/rate of change, and allows set points for insulin delivery. The application also describes a miniature transdermal glucose sensor, is affixed over an area of permeated skin, that transmits to the monitor. The Symphony tCGM System incorporates Echo's proprietary Prelude SkinPrep System, together with a noninvasive wireless biosensor and a wireless monitor or handheld device for needle-free, continuous monitoring of glucose levels.
The addressable market for needle-free, continuous wireless glucose monitoring in the hospital critical care setting exceeds $1 billion annually and the global glucose monitoring market exceeds $12 billion annually.
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 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, 2010, 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.
Chairman and Chief Executive Officer
Media: Richard Stern
Stern &C o.
SOURCE Echo Therapeutics, Inc.