Echo Therapeutics (ECTE) Amends Prelude License Agreement with Ferndale Pharma

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Echo Therapeutics, Inc. (Nasdaq: ECTE), announced that it signed an amended license agreement with Ferndale Pharma Group, Inc. ("Ferndale") that grants Ferndale the right to develop, market and sell Prelude for painless, needle-free skin preparation prior to the application of topical 4% lidocaine cream for fast-acting, local dermal anesthesia prior to a wide-range of needle-based medical procedures. In addition to the original territory of North America and the United Kingdom, the amended license agreement covers South America, Australia, New Zealand, Switzerland and portions of the European Community.

Under the terms of the amended agreement, Echo will receive milestone payments upon Ferndale's receipt of regulatory clearance in certain countries of the territory. Ferndale also will pay milestone payments based on the achievement of certain net sales targets, in addition to paying royalties from its sales of Prelude together with 4% lidocaine cream and the related disposable components.

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