Drug-delivery systems maker Echo Therapeutics(NASDAQ:ECTE) launched clinical trials for its Symphony transdermal continuous glucose monitoring system.
Echo plans to enroll up to 25 patients with either Type I or Type II diabetes and compare the Symphony system to two other glucose analyzers on the market.
The company expects to complete and announce the results of the study in its fourth quarter.
"This trial is an important step not only for our glucose monitoring technology and the company, but also for the diabetes community," Patrick Mooney, CEO of Echo said in prepared remarks. "We believe that Symphony represents an opportunity to better monitor glucose levels in people with diabetes and we look forward to confirming this in the trial."
Mooney told MassDevice about the company’s Symphony technology and how he hopes to take advantage of the huge opportunity in the diabetes space once the system is commercialized in a podcast earlier this year.
The Philadelphia-based company, which announced that its shares were listed on the NASDAQ Capital Market exchange one day before the close of its second quarter, spent nearly $800,000 more on operations during their Q2 than in the same period last year as it pushed the Symphony system to clinical trials.
Echo posted a tough second quarter, with a 40 percent dip in sales to $158,520, compared to $264,199 sold during the same Q2 2010.