January 11, 2010
Franklin Firm Says It's Ready For FDA
By Matthew L. Brown
Echo Therapeutics Inc. of Franklin said its flagship product is ready for final clinical trials and U.S. Food and Drug Administration market clearance.
Echo's Prelude SkinPrep device being sent to final trials replaces a prototype system the company has used in earlier trials. The system is used for both drug delivery through the skin and to apply local anesthesia to the skin prior to the use of Echo's glucose monitoring system.
The company called the completion of product development work for the device "one of the most important milestone events in the company's history."
In the third quarter, the company lost $1.2 million on $497,245 in revenue. In the same period a year earlier, the company brought in no revenue and lost $2.9 million.
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