Echo Therapeutics has found a lifeline, a development partner in Asia that will help the Philadelphia device company accelerate efforts to bring its cutting-edge glucose monitor into the Chinese market.
Troubles at Echo Therapeutics are mounting, with sizeable layoffs and potential FDA delays relating to the government shutdown becoming the latest setbacks faced by the Philadelphia device company. Echo, which is developing the Symphony needle-free, wireless continuous glucose monitoring system, disclosed in a general update that it reduced staff levels by about a third at the end of September,
Echo Therapeutics has responded to an angry shareholder seeking change at the company, and both sides have agreed to meet, presumably to discuss their differences and hash out a path forward.
In the face of a plunging stock price and leadership turmoil, Echo Therapeutics must now confront an angry shareholder and its pitch for a course correction.
Echo Therapeutics is angling to get regulatory approval for its wireless, non-invasive glucose monitor, and the company now has a $20 million line of credit to speed the process, thanks to Platinum-Montaur Life Sciences.
Echo Therapeutics is reporting positive clinical trial results for its transdermal glucose monitor, and its CEO will get a chance to discuss them on national TV.
Philadelphia-based Echo Therapeutics took a $16.7 million loss in 2011, a year in which the company had planned to launch its needle-free, transdermal drug delivery platform, the Prelude SkinPrep System.
When last we left Echo Therapeutics in February, the Franklin, MA-based company was speeding up the launch of its Prelude SkinPrep System for transdermal drug delivery after receiving word from the
Franklin, MA-based Echo Therapeutics is speeding up the launch of its non-invasive drug delivery system and announced plans to list on a national exchange. The company, along with its partners