November 11, 2010
Franklin Firm Asks FDA For Market Clearance
By Matthew L. Brown
Echo Therapeutics Inc., a Franklin-based medical device firm, said it is seeking clearance from the U.S. Food and Drug Administration to market its flagship product in the United States.
That product, the Prelude SkinPrep System, prepares the skin of patients more quickly for the application local anesthesia, specifically, topical Lidocaine.
The company completed clinical trials for the system last August.
Echo has licensed the American and United Kingdom development, assembly, marketing and sales rights to the system to Britain-based Ferndale Pharma Group.
Upon FDA clearance, Echo will get a $750,000 milestone payment and royalties on Ferdale's product sales.
Echo expects FDA clearance to take about 90 days.
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