Yesterday, Echo Therapeutics, Inc. announced that it has received the key components of its next generation Symphony tCGM System design. This newly-engineered design is currently undergoing its final functionality testing. Echo is in the process of developing the Symphony™ tCGM System as a non-invasive, wireless, transdermal continuous glucose monitoring (tCGM) system. It is also focused on developing its Prelude™ SkinPrep System for transdermal drug delivery.
The updated Symphony System will be ready for demonstration very soon. It will be further tested in a final series of clinical trials shortly thereafter, replacing the prototype used in earlier clinical trials. The new design incorporates numerous technological advances that will enable the product to meet market expectations for system accuracy, manufacturability and product cost. Echo believes that upon completion of the final development work, no significant changes will be made to the Symphony tCGM System, and that the newly-engineered device will be used for sale. The addressable market for needle-free, continuous wireless glucose monitoring in the hospital critical care setting exceeds $1 billion annually and the global glucose monitoring market exceeds $12 billion annually.
“We are excited to commence what we hope are the final series of modifications and testing as we move closer to our goal of a pivotal study which would form the basis of our application to the FDA for marketing clearance of the product-candidate,” said Patrick T. Mooney, M.D., Chairman and CEO of Echo Therapeutics. “We look forward to an exciting year of development progress and validating the improvements that we have made in clinical testing.”