As part of its current strategy, the Company is actively pursuing a corporate partnership for Symphony's commercialization in the hospital critical care market. Echo believes that obtaining such a partner would allow it to leverage the commercial infrastructure of its partner, significantly reducing the need for the Company to establish its own sales, marketing and distribution infrastructure.
"Our team believes in Echo's ability to be an innovator in the CGM hospital market, resulting in better patient outcomes, reduced nursing burden, and potential cost-savings for hospitals. Our management team is dedicated to realizing the potential of our technology for the benefit of our shareholders, clinical practitioners and patients," stated
Patrick T. Mooney
, M.D., Chairman and CEO of Echo Therapeutics. "We intend to leverage our existing capital to secure a corporate partnership as Symphony moves toward commercial approval. Our management team is focused on meeting this goal following EU approval and initiation of our FDA pivotal trial."
About Echo Therapeutics
Echo Therapeutics is developing the Symphony CGM System as a non-invasive, wireless 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 System, 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 the Symphony CGM System, 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 System. 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, 2012
, 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
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SOURCE Echo Therapeutics, Inc.