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Echo: Speculation on Diabetes Care
02/27/2014 7:00 am EST
Our latest featured stock of the month is developing a non-invasive, wireless, continuous glucose monitoring (CGM) system for use in hospitals' critical care units and for people with diabetes, explains Konrad Kuhn, editor of The KonLin Letter, which specializes in low-priced, micro-cap stocks.
Echo Therapeutics (ECTE) has developed a platform that allows for enhanced skin permeation; this technology allows for needle-free, transdermal drug delivery.
The company's lead medical program, Symphony, is designed to provide reliable, continuous blood glucose data, in order to improve patient monitoring, to allow for better overall clinical outcomes.
According to the American Diabetes Association, the cost of diabetes in the US in 2012 was $245 billion, with approximately $12 billion attributed to costs associated with monitoring blood glucose levels.
All exciting FDA-approved continuous glucose monitoring systems are needle-based, requiring insertion of a sensor into the patient's skin, which gives rise to risks of infection and inflammation.
Symphony's state-of-the-art system does not require insertion of the sensor and thus does not give rise to the risks or discomfort associated with needle-based CGM systems.
The company announced a strategic partnership with Medical Technologies Innovation Asia and will receive a $10 million cash investment for the rights to distribute the Symphony CGM system on an exclusive basis for the China market.
This strategic partnership offers ECTE both, the potential to accelerate Symphony's commercialization, and access to the Chinese market, where Medical Technologies Innovation Asia has established sales channels in more than 1,000 hospitals spanning the country's provinces.
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