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Print Edition StoriesThursday, May 28, 2009
Echo Therapeutics could snag up to $14M from licensing deal
By Mass High Tech Staff
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Medical technology firm Echo Therapeutics Inc. reports it could bring in up to $14 million from a licensing agreement with Ferndale Pharma Group, giving Ferndale the right to develop and sell a lidocaine application using Echo’s needle-free skin preparation system.
Franklin-based Echo is licensing its Prelude SkinPrep System, which is based on a patented skin permeation control technology using ultrasound, which allows for quick and painless removal of the outermost layer of the skin. According to executives, the technology has application for both transdermal drug delivery and measuring blood sugar levels.
Ferndale will use the Prelude SkinPrep System to deliver LMX4, its topical 4 percent lidocaine cream, to act as local anesthesia prior to needle-based medical procedures.
Under the terms of the deal, Echo gets $750,000 in upfront licensing fees, and a potential additional $750,000 if the U.S. Food and Drug Administration approves the product. Echo is also eligible to receive up to $12.6 million in royalties.
In addition to its Prelude product, Echo is developing its Symphony tCGM System for needle-free, transdermal continuous glucose monitoring.
Echo Therapeutics was founded as Sontra Medical Corp., and changed its name following with Echo Therapeutics of North Carolina. At that time, the company began trading on the Over-The-Counter Bulletin Board under the symbol “ECTE.”
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