Echo Therapeutics (ECTE) Targeting the World’s Largest Diabetic Population in China with Needleless Monitor

Stephen L Kanaval  |

Echo Therapeutics, Inc. (ECTE) has the ability to save lives. In a country where 29 million people have diabetes, Echo has a device that allows for 24-hour glucose monitoring. Echo has designs and manufactures an exfoliator that painlessly monitors the fluctuation in glucose. The device is small and easy to use. In addition, the company also makes an Echo sensor and transmitter that is the size of a quarter, which can monitor glucose level and transmit to any remote device. Now, both of these devices function without a needle. This is a very important detail because needles scare off many people from dealing with their diabetes consistently.

Echo’s products are designed for precise hospital care but they are most beneficial for outpatient care. This is a very large market and Echo understands the potential. The product is also designed for weight loss and personal lifestyle improvement with the ability to constantly monitor the body’s systems.

The company is working with Medical Technologies Innovation Asia (MTIA) in China for a clinical rollout to its national Food and Drug Administration. This is an important step for Echo because China has the world’s largest diabetic population.

The company recently released their 2nd quarter financials and here are the highlights (taken from the company press release):

Recent Corporate Highlights:

  • On May 3, 2016, Echo closed the second tranche of the January 29, 2016 Securities Purchase Agreement with certain institutional and other accredited investors and issued Notes in an aggregate principal amount of $3,361,620.
  • In June 2016, Echo began stand-alone and integrated testing of its NextGen CGM prototype components. Rigorous testing of each component independently and as an integrated system will continue as the Company optimizes its system in preparation for future clinical and regulatory trials. Echo began hardware and software testing of the NextGen Exfoliator and the Bluetooth transmitter.
  • In June 2016, Echo received Institutional Review Board (IRB) approval for a new clinical protocol. The new protocol allows expanded testing of the Company's CGM system and now permits Echo to recruit both pediatric and adult subjects for its internal and external studies.
  • In June 2016, Echo selected a Clinical Research Organization (CRO) for the development of a comprehensive regulatory and clinical strategy for its CGM system. The CRO has a demonstrated track record of successfully designing and managing clinical trials.
  • A new patent entitled "Transdermal Analyte Monitoring System and Methods for Analyte Detection" was granted by Japan (Application number 2013-169786) covering Echo's system and methods for transdermal monitoring of analytes, including glucose and other substances. The patent describes a system utilizing a sensor and a hydrogel with a specific formulation that work together to allow detection of glucose, lactate or other substances.

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Companies

Symbol Name Price Change % Volume
ECTE Echo Therapeutics Inc. 0.00 -0.00 -58.00 20,002

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