Echo Therapeutics, Inc. (ECTE.OB) Gets $3M Backing to Complete Product Development
Echo Therapeutics, Inc. today announced it has raised approximately $2.5 million through a series of private placements of the company’s stocks and warrants, as well as has received a binding commitment for an additional $3 million, led by the company’s largest shareholder, Platinum Montaur Life Sciences LLC. The funding was joined by current investors and other institutional and accredited investors. Echo develops its needle-free Symphony™ tCGM System as a non-invasive, wireless, transdermal continuous glucose monitoring system and its Prelude™ SkinPrep System for transdermal drug delivery. The funding will equip the company with the financial resources to move forward and complete…