ORLANDO, Fla., April 23, 2008 (PRIME NEWSWIRE) -- RedChip Visibility, a division of RedChip Companies, Inc., today announced it has initiated research coverage on Echo Therapeutics, Inc. (OTCBB:ECTE), a transdermal medical device and specialty pharmaceuticals company.

Harry Russell, MBA, RedChip Research Analyst, reported:

"Through a partnership with Cato Research, ECTE has access to technology, manufacturing, and clinical acumen far and away above other companies that we have seen. The combination of these assets and core competencies allows ECTE to create a tremendous amount of shareholder value with far less risk and capital outlay than would be required for a similar company at this stage."

"We think the market for ECTE's products is well over a billion dollars and, even with a small footprint, the Company's profit potential is substantial. The Company's business model is quite favorable given its strategy and established relationships, which offer a very digestible risk/reward profile," Russell continued.

"We are initiating coverage of ECTE with a 12-month price target of $5.00," he concluded.

To receive a complimentary copy of the RedChip Visibility Initial Research Report for Echo Therapeutics Inc., visit http://www.redchip.com/visibility/about.asp?page=vreport&reportid=98&from=04232008news

To learn more about Echo Therapeutics, visit http://www.redchip.com/visibility/investor.asp?symbol=ECTE

About RedChip Companies, Inc.

RedChip Companies is an international, small-cap research and financial public relations firm with offices in Maitland, Florida; Bangalore, India; and Beijing, with affiliates in New York and San Diego. RedChip delivers concrete, measurable results for its clients through its extensive national and international network of small-cap institutional and retail investors. RedChip has developed the most comprehensive platform of products and services for small-cap companies, including: RedChip Research, Traditional Investor Relations, Digital Investor Relations, Institutional and Retail Conferences, RedChip Internet TV, and RedChip Radio. To learn more about RedChip's products and services please visit: http://www.redchip.com/visibility/productsandservices.asp.

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None of the profiles issued by RedChip Companies, Inc., constitutes a recommendation for any investor to purchase or sell any particular security or that any security is suitable for any investor. Any investor should determine whether a particular security is suitable based on the investor's objectives, other securities holdings, financial situation needs, and tax status. Echo Therapeutics, Inc. paid RedChip Visibility, a division of RedChip Companies, Inc., fifty thousand dollars for RedChip Visibility Program services, which included the preparation of this equity research report. RedChip Companies, Inc., is currently engaged by this company to provide investor awareness services. Investor awareness services and programs are designed to help small-cap companies communicate their investment characteristics. Echo Therapeutics, Inc., agreed to pay RedChip Companies, Inc., a fee of seven thousand five hundred dollars in cash per month and 25,000 shares of unregistered common stock, and 25,000 warrants to purchase 25,000 shares of unregistered common stock for twelve (12) months of these services. This report is not a recommendation of a solicitation to purchase or sell any security, nor does it constitute investment advice.

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