Echo Therapeutics Announces $3 Million Financing

FRANKLIN, Mass., Nov. 13 /PRNewswire-FirstCall/ -- Echo Therapeutics, Inc. (OTC Bulletin Board: ECTE - News), a company developing its needle-free Symphony(TM) tCGM System as a non-invasive, wireless, transdermal continuous glucose monitoring (tCGM) system and the Prelude(TM) SkinPrep System for transdermal drug delivery, announced today that it has entered into definitive agreements with accredited and institutional investors to raise approximately $3 million through the sale of approximately 2.37 million shares of common stock at $1.25 per share through a private placement transaction. The transaction will include approximately 2.2 million common stock purchase warrants with an exercise price equal to $2.00 per share and a term of five years. Burnham Hill Partners, LLC acted as placement agent for the transaction. "We are extremely pleased to have executed on this financing," stated Patrick Mooney, M.D., Echo's Chairman and Chief Executive Officer. "With this additional capital, we will have the finances to advance our Prelude SkinPrep and Symphony tCGM Systems toward commercialization, which we expect to occur next year."This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities. There shall not be any sale of these securities in any jurisdiction in which such offering would be unlawful. The securities offered and sold in the private placement have not been registered under the Securities Act of 1933, as amended, or any state securities laws, and may not be offered...
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Echo Therapeutics Initiates Clinical Study of its New One-Piece Symphony(TM) tCGM Biosensor in Type 1 and Type 2 Diabetic Patients

FRANKLIN, Mass., Nov. 4 /PRNewswire-FirstCall/ -- Echo Therapeutics, Inc. (OTC Bulletin Board: ECTE - News), a diabetes management company developing the needle-free Symphony(TM) tCGM System as a non-invasive, wireless, transdermal continuous glucose monitoring (tCGM) system and the Prelude(TM) SkinPrep System for transdermal drug delivery announced today that it has initiated a clinical study of its Symphony(TM) Transdermal Continuous Glucose Monitoring System (tCGM System) in patients with Type 1 and Type 2 diabetes. The purpose of the study is to test the performance of its new one-piece, cost-effective and easy-to-use biosensor. The Company expects to complete and announce the results of the study in the fourth quarter of 2009. "We are extremely pleased to take this next step forward in the development work on our one piece biosensor, a critical component of Symphony, our needle-free, continuous glucose monitoring technology," stated Patrick T. Mooney, M.D., Chairman and CEO of Echo Therapeutics. "As we described previously, this next generation biosensor introduces new materials and a more effective geometrical construction designed to be one-piece and replaces the prior prototype two-piece biosensor used in earlier clinical trials. We believe that this biosensor will demonstrate improved performance and reliability and we look forward to confirming this in this clinical trial in Type 1 and Type 2 diabetics."Echo's pilot clinical study will enroll patients with diabetes (either Type 1 or Type 2) and will compare...
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Echo Therapeutics Announces Significant Advance in Development of its One-Piece, Needle Free Symphony tCGM Biosensor

FRANKLIN, Mass., Oct. 29 /PRNewswire-FirstCall/ -- Echo Therapeutics, Inc. (OTC Bulletin Board: ECTE - News), a diabetes management company developing the needle-free Symphony(TM) tCGM System as a non-invasive, wireless, transdermal continuous glucose monitoring (tCGM) system and the Prelude(TM) SkinPrep System for transdermal drug delivery, announced today that it has made significant advances to the development of its needle-free Symphony tCGM biosensor. The biosensor replaces the prototype two-piece biosensor used in earlier clinical trials and is designed to offer a one-piece, cost-effective, single-use biosensor with improved performance for use by consumers and healthcare providers. "We are extremely pleased to announce this next step in the product development work on our one-piece biosensor, a critical component of Symphony, our needle-free, continuous glucose monitoring technology," stated Patrick T. Mooney, M.D., Chairman and CEO of Echo Therapeutics. "This next generation one-piece biosensor introduces new materials and a more effective geometrical construction and replaces the prior prototype two-piece biosensor used in earlier clinical trials. We believe that this new one-piece design will significantly reduce manufacturing costs, enabling the Company to offer a low-cost product. We also believe that this design will lead to improved continuous monitoring performance since a one-piece biosensor eliminates a primary source of the motion artifact seen with the earlier prototype two-piece biosensor. We lo...
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Echo Therapeutics to Present at 4th Annual JMP Securities Healthcare Conference

FRANKLIN, Mass., Oct. 1 /PRNewswire-FirstCall/ -- Echo Therapeutics, Inc. (OTC Bulletin Board: ECTE - News), a diabetes management company developing the needle-free Symphony(TM) tCGM System as a non-invasive, wireless, transdermal continuous glucose monitoring (tCGM) system and the Prelude(TM) SkinPrep System for transdermal drug delivery, announced today that Patrick T. Mooney, M.D., Chairman and Chief Executive Officer, will present at the 4th Annual JMP Securities Healthcare Conference on Tuesday, October 6, 2009 at 1pm ET. The presentation will occur live and will be held at The New York Palace Hotel in New York, NY. About Echo TherapeuticsEcho Therapeutics is focused on medical devices and specialty pharmaceuticals. Echo 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 for transdermal drug delivery of a wide range of novel topical reformulations of widely-used, FDA-approved products.Cautionary Statement Regarding Forward Looking StatementsThe 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, bu...
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Echo Therapeutics Announces New Presentation Time at Rodman & Renshaw 2009 Annual Global Investment Conference

FRANKLIN, Mass., Sept. 9 /PRNewswire-FirstCall/ -- Echo Therapeutics, Inc. (OTC Bulletin Board: ECTE - News), a diabetes management company developing the needle-free Symphony(TM) tCGM System as a non-invasive, wireless, transdermal continuous glucose monitoring (tCGM) system and the Prelude(TM) SkinPrep System for transdermal drug delivery, announced today that it has rescheduled the Company's presentation at the Rodman & Renshaw 2009 Annual Global Investment Conference. Patrick T. Mooney, M.D., Chairman and Chief Executive Officer, will now present on Thursday, September 10, 2009 at 11:15am ET. The presentation will occur live and will be held at The New York Palace Hotel in New York, NY. About Echo TherapeuticsEcho Therapeutics is focused on medical devices and specialty pharmaceuticals. Echo 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 for transdermal drug delivery of a wide range of novel topical reformulations of widely-used, FDA-approved products.Cautionary Statement Regarding Forward Looking StatementsThe 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 im...
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Echo Therapeutics Announces New Presentation Time at Rodman & Renshaw 2009 Annual Global Investment Conference

FRANKLIN, Mass., Sept. 8 /PRNewswire-FirstCall/ -- Echo Therapeutics, Inc. (OTC Bulletin Board: ECTE - News), a diabetes management company developing the needle-free Symphony(TM) tCGM System as a non-invasive, wireless, transdermal continuous glucose monitoring (tCGM) system and the Prelude(TM) SkinPrep System for transdermal drug delivery, announced today that it has rescheduled the Company's presentation at the Rodman & Renshaw 2009 Annual Global Investment Conference. Patrick T. Mooney, M.D., Chairman and Chief Executive Officer, will now present on Wednesday September 9, 2009 at 5:45pm ET. The presentation will occur live and will be held at The New York Palace Hotel in New York, NY. About Echo TherapeuticsEcho Therapeutics is focused on medical devices and specialty pharmaceuticals. Echo 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 for transdermal drug delivery of a wide range of novel topical reformulations of widely-used, FDA-approved products.Cautionary Statement Regarding Forward Looking StatementsThe 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 th...
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ECHO THERAPEUTICS, INC. Financials

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Echo Therapeutics to Present at Rodman & Renshaw 2009 Annual Global Investment Conference

FRANKLIN, Mass., Sept. 3 /PRNewswire-FirstCall/ -- Echo Therapeutics, Inc. (OTC Bulletin Board: ECTE - News), a diabetes management company developing the needle-free Symphony(TM) tCGM System as a non-invasive, wireless, transdermal continuous glucose monitoring (tCGM) system and the Prelude(TM) SkinPrep System for transdermal drug delivery, announced today that Patrick T. Mooney, M.D., Chairman and Chief Executive Officer, will present at the Rodman & Renshaw 2009 Annual Global Investment Conference on Friday September 11, 2009 at 2:25pm ET. The presentation will occur live and will be held at The New York Palace Hotel in New York, NY. "We look forward to presenting Symphony, our needle-free, continuous glucose monitoring technology, and Prelude, our needle-free skin preparation technology for transdermal drug delivery, to the large audience of industry leaders, institutional and retail investors from around the world who will be attending the conference. We also plan to provide an update on our notable progress toward our goal of making Symphony and Prelude available to physicians and patients in early 2010," stated Patrick T. Mooney, M.D., Chairman and CEO of Echo Therapeutics.About Echo TherapeuticsEcho Therapeutics is focused on medical devices and specialty pharmaceuticals. Echo 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...
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ECHO THERAPEUTICS, INC. Files SEC form 10-Q, Quarterly Report

ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS. The following discussion of our consolidated financial condition and results of operations should be read in conjunction with the financial statements and the related notes thereto included in the Company's Form 10-K for the year ended December 31, 2008 and elsewhere in this Form 10-Q. The matters discussed herein contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and Section 27A of the Securities Act of 1933, as amended, which involve risks and uncertainties. All statements other than statements of historical information provided herein may be deemed to be forward-looking statements. Without limiting the foregoing, the words "believes", "anticipates", "plans", "expects" and similar expressions are intended to identify forward-looking statements. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks related to regulatory approvals and the success of our ongoing studies, including the efficacy of our Symphony tCGM System, the failure of future development and preliminary marketing efforts related to our tCGM system, risks and uncertainties relating to our ability to develop, market and sell diagnostic products based on our skin permeation platform technologies, including the Prelude SkinPrep System, the availability of substantial additional equity or debt capital to support our research, development and product commercialization activities, the success of our research, development, and regulatory approval, marketing and distribution plans and strategies, including those plans and strategies related to our tCGM System and those discussed in "Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended December 31, 2008 and elsewhere in this re...
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ECHO THERAPEUTICS, INC. Files SEC form 8-K, Entry into a Material Definitive Agreement, Unregistered Sale of Equity S

Item 1.01. Entry into a Material Definitive Agreement. On July 7, 2009, Echo Therapeutics, Inc. (the "Company") entered into a Stock Purchase Agreement dated as of June 30, 2009 (the "Purchase Agreement") with Platinum Montaur Life Sciences, LLC ("Platinum") in connection with the Company's private placement (the "Financing") of 200.6031 shares of its non-convertible Series B Preferred Stock ("Series B Stock"), together with 1,205,016 shares of the Company's Common Stock, $0.01 par value (the "Common Stock"), for an aggregate price of $2,006,031. The Company received payment of the purchase price in the form of the extinguishment of the 10% Senior Secured Promissory Note issued by the Company to Platinum on June 1, 2009 in the amount of $2,006,031, which amount included principal and interest accrued through June 30, 2009. The Purchase Agreement states that the Financing may not result in a purchaser or any of its affiliates, individually or in the aggregate, beneficially owning more than 9.99% of all of the Company's outstanding Common Stock (the "Threshold Amount"); provided, however, that a purchaser may waive the foregoing provision upon sixty-one (61) days' advance written notice to the Company. If the Financing would result in a purchaser owning Common Stock in excess of the Threshold Amount, then the purchaser would receive Common Stock rounded to the nearest whole share, up to the Threshold Amount, and the remaining Common Stock would be exchanged for Series C Preferred Stock ("Series C Stock") convertible into the number of shares of Common Stock equal to the difference between the aggregate number of shares of Common Stock to be issued to the purchaser and the actual number of shares of Common Stock issued. As a result of this provision, Platinum will receive 1,205.016 shares of Series C Stock instead of 1,205,016 shares of Common Stock that it otherwise would have received pursuant to the Purchase A...
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