PHILADELPHIA, March 12, 2013 /PRNewswire/ -- Echo Therapeutics, Inc. (Nasdaq: ECTE), a company developing its needle-free Symphony® CGM System as a non-invasive, wireless, transdermal continuous glucose monitoring system, today announced that the U.S. Patent and Trademark Office (USPTO) has issued U.S. Patent No. 8,386,027, "Skin Permeation Device For Analyte Sensing or Transdermal Drug Delivery," for the Prelude SkinPrep System, the skin permeation component of the Symphony CGM System.
The patent, describing a device and method for preparing the skin in a controlled, dermabrasive manner to allow for either analyte extraction or drug delivery, was granted on February 26, 2013. The claims encompass the Prelude device and its typical method of use. According to the USPTO's initial calculation of patent term, this patent will expire in 2030. However, this patent may be entitled to additional patent term due to delays by the USPTO, and may expire at a later date.
"Building on our positive fundamentals, we are excited to be issued this patent for a key component of our Symphony CGM System," said Patrick T. Mooney, M.D., Chairman and Chief Executive Officer of Echo Therapeutics. "This patent is critical to our intellectual property strategy for protecting our position in non-invasive continuous glucose monitoring and transdermal drug delivery markets worldwide. Furthermore, this U.S. patent issuance serves again to strengthen Echo's already formidable intellectual property estate."
About Echo Therapeutics
Echo Therapeutics is developing the Symphony CGM System as a non-invasive, wireless, transdermal continuous glucose monitoring system. Our target is patients who could benefit from glucose monitoring in the hospital setting, including critical care. Significant opportunity also exists for patients with diabetes to use Symphony in the outpatient setting. Echo is also developing its needle-free skin preparation component of Symphony, the Prelude® SkinPrep System, as a platform technology to enhance drug 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 CGM System, the failure of future development and preliminary marketing efforts related to Echo's Symphony CGM 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 CGM 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 CGM 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 (215) 717-4104 firstname.lastname@example.org
SOURCE Echo Therapeutics, Inc.