Echo Therapeutics Inc. (OTC:ECTE) said it’s made a "significant advance" in the design of its Symphony transdermal glucose monitor that could see it soon begin a clinical trial of the device.
The Franklin, Mass.-based company said the breakthrough will make the electronic component of the device one-third smaller compared with its prototype and plans to complete product development for the entire system "in the near-term," meaning clinical trials could be just around the corner.
The advance, announced in a press release, follows news that Echo‘s other flagship technology, the Prelude SkinPrep transdermal drug delivery system, is also ready for clinical trials.
Echo pulled in about $3.5 million in new investments late last year, $3 million from a private stock sale in November and another $562,000 from a group of backers in Philadelphia in December.