Echo Therapeutics, Inc. (Nasdaq: ECTE) Provides an Update to Shareholders

  Echo Therapeutics, Inc. (Nasdaq: ECTE) Provides an Update to Shareholders

2013 Shaping Up To Be Dynamic Year With Numerous Anticipated Milestones

PR Newswire

PHILADELPHIA, Jan. 7, 2013

PHILADELPHIA, Jan. 7, 2013 /PRNewswire/ --Echo Therapeutics, Inc. (Nasdaq:
ECTE), a company developing its needle-free Symphony^® tCGM System as a
non-invasive, wireless, transdermal continuous glucose monitoring system,
today issued the following corporate update to its shareholders:

To Our Shareholders:

As we begin the new year, we are pleased to report that the last year was one
of significant accomplishment and progress that has set the stage for a very
exciting and productive 2013. In this letter, we would like to reflect on our
achievements and, more importantly, look forward to the objectives we intend
to achieve in the coming months.

2012 Business Review

Over the past year we achieved several major milestones:

  oIn 2012, Echo completed two clinical trials of the Symphony tCGM System in
    critically ill patients that showed that Symphony successfully monitored
    patient glucose levels and has the potential to be an important tool for
    the tracking and trending of glucose in the hospital setting. To date,
    Echo has completed ten pilot studies of the Symphony tCGM System with a
    combined average error rate (MARD) of 12.0%.
  oEcho added key executives to its management team as part of our plan to
    finalize development and accelerate the commercialization of the Symphony
    tCGM System and other products contemplated in our growth strategy.
  oEcho's Operations management worked closely with the global electronics
    manufacturing and distribution provider, Benchmark Electronics, Inc., to
    provide the necessary tools and processes for the product launch of the
    Symphony tCGM System.
  oAt the 72^nd Annual Scientific Sessions of the American Diabetes
    Association on June 8, 2012, Echo presented an expanded analysis of data
    collected from patients with either type 1 or type 2 diabetes during its
    clinical trial of Symphony. Echo also presented at the 12^th Annual
    Diabetes Technology Meeting on November 9, 2012.
  oEcho announced that it obtained several patents throughout the year that
    provide our products with long-term market protection. Echo holds eight
    U.S. patents and 71 foreign patents, and has over 25 pending patent
    applications in the U.S. and foreign countries.
  oThree additional analysts initiated research on Echo in 20l2, contributing
    to improved market awareness. Currently, six investment banks follow
    Echo: Ascendiant Capital Markets, Feltl and Company, LifeTech Capital,
    Noble Financial Capital Markets, Northland Capital Markets, and Wunderlich
    Securities, Inc.

Upcoming Catalysts

Building on the strong foundation with which we finished 2012, Echo is focused
on completing several key milestones during 2013 that will enable us to begin
generating revenue.

  oEcho expects to achieve International Standards Organization (IS0) 13485
    certification in the first quarter of 2013. ISO 13485 is the globally
    recognized Quality System standard that prescribes consistent processes
    for the development, design and manufacturing of medical devices, and is
    considered a step towards securing product commercialization approval by
    European and other international regulatory agencies.
  oEcho is preparing for a multi-center European regulatory trial of the
    Symphony tCGM System in critically ill patients and a subsequent
    Conformite Europeenne (CE) Technical File submission in the first half of
    2013. CE Marking would enable the commercial sale of Symphony in the EU
    and other countries that recognize the CE Mark.
  oIn anticipation of a review of and determination regarding its CE Mark
    application in the second half of 2013, Echo has begun significant
    commercial planning activities. Echo is preparing for European launch in
    target markets by the end of the year.
  oEcho is intensifying partnership discussions as Symphony nears
    commercialization. The company is exploring a variety of partnership
    opportunities that exist in both the critical care and outpatient
    settings, and across numerous geographical areas.
  oEcho expects to meet with the Food & Drug Administration (FDA) in early
    2013 to discuss the proposed pivotal clinical study during a Pre-PMA
    Submission meeting. We plan to commence the pivotal clinical trial in
    the second half of 2013. The safety and efficacy data obtained from the
    pivotal trial are expected to support a Premarket Approval application.
  oEcho plans to increase its scientific communication via oral
    presentations, poster sessions, and exhibitions at major medical meetings
    in Europe and the U.S., to strengthen awareness in the key opinion leader
    community.
  oEcho will provide continued communication with the investment community
    through upcoming investor conferences and regular updates on the company's
    progress.

Thank you for your investment in the continued success of our company. We
look forward to keeping you informed of our progress throughout the year.

Sincerely,

Patrick T. Mooney, M.D.
Chairman and CEO

About Echo Therapeutics

Echo Therapeutics is developing the Symphony tCGM System as a non-invasive,
wireless, transdermal continuous glucose monitoring system. Our target is
patients who could benefit from glucose monitoring in the hospital setting,
including critical care. Significant opportunity also exists for patients
with diabetes to use Symphony in the outpatient setting. Echo is also
developing its needle-free skin preparation component of Symphony, the
Prelude^® SkinPrep System, as a platform technology to enhance drug delivery
of topical pharmaceuticals.

Cautionary Statement Regarding Forward Looking Statements

The statements in this press release that are not historical facts may
constitute forward-looking statements that are based on current expectations
and are subject to risks and uncertainties that could cause actual future
results to differ materially from those expressed or implied by such
statements. Those risks and uncertainties include, but are not limited to,
risks related to regulatory approvals and the success of Echo's ongoing
studies, including the safety and efficacy of Echo's Symphony tCGM System, the
failure of future development and preliminary marketing efforts related to
Echo's Symphony tCGM and Prelude SkinPrep Systems, Echo's ability to secure
additional commercial partnering arrangements, risks and uncertainties
relating to Echo's and its partners' ability to develop, market and sell
diagnostic and transdermal drug delivery products based on its skin permeation
platform technologies, including the Symphony tCGM and Prelude SkinPrep
Systems, the availability of substantial additional equity or debt capital to
support its research, development and product commercialization activities,
and the success of its research, development, regulatory approval, marketing
and distribution plans and strategies, including those plans and strategies
related to its Symphony tCGM and Prelude SkinPrep Systems. These and other
risks and uncertainties are identified and described in more detail in Echo's
filings with the Securities and Exchange Commission, including, without
limitation, its Annual Report on Form 10-K for the year ended December 31,
2011, its Quarterly Reports on Form 10-Q, and its Current Reports on Form 8-K.
Echo undertakes no obligation to publicly update or revise any forward-looking
statements.

For More Information:
Christine H. Olimpio
Director, Investor Relations and Corporate Communications
(215) 717-4104
colimpio@echotx.com

Connect With Us:

- Visit our website at www.echotx.com

- Follow us on Twitter at www.twitter.com/echotx

- Join us on Facebook at www.facebook.com/echotx

(Logo: http://photos.prnewswire.com/prnh/20120801/NE50071LOGO)

SOURCE Echo Therapeutics, Inc.

Website: http://www.sontra.com
 
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