Sontra Medical and Echo Therapeutics announce merger

Pursuant to the parties agreement, Sontra has acquired all of the outstanding shares of Echo common stock in exchange for an aggregate of 6.25 million shares of Sontra common stock.

The stockholders of Sontra and former stockholders of Echo hold approximately 65% and 35% of the combined company's outstanding common stock, respectively.

Patrick Mooney and Shawn Singh will serve as CEO and interim president of the combined company. Harry Mitchell, CPA of Sontra, will continue to serve as COO and CFO of the combined company.

Patrick Mooney, Echo's CEO said: “This merger is a timely combination of two late-stage and powerful transdermal drug penetration technologies. Together, we are now ideally positioned to leverage and monetize both technologies through a continuing stream of strategic drug development and marketing partnerships. Our long-term strategic relationship with Cato Research, a highly-respected global contract research organization, will enable the combined company to maximize the output of its two core technology platforms and minimize the clinical development and regulatory risks.”

The merger created a leading, platform-enabled transdermal therapeutics and diagnostics company focused on multiple large markets for improved formulations of specialty pharmaceuticals and new applications of next generation transdermal diagnostics.