Competitive Technologies' Pain Management Device to Be Featured At Italian
Cancer Institute Conference
FAIRFIELD, Conn., July 8, 2008 (PRIME NEWSWIRE) -- Competitive Technologies,
Inc. (AMEX:CTT) announced today that its pain management therapy device will be
featured in a press conference held by the Institut Scientific Romagnol Per Lo
Studi E La Cura Dei Tumori (IRST). The press conference will be held in Italy on
July 11 at IRST, a leader in research and therapy for cutting-edge cancer
treatment technologies. The conference presentation will review how CTT's pain
management device is successfully included in IRST's innovative treatment
protocols for oncological pain.
CTT has exclusive worldwide rights to this patented device, a non-invasive
method for rapid treatment of high-intensity oncologic and neuropathic pain,
including pain-resistant to morphine and other drugs. The CTT device has Medical
Device CE certification from the European Union allowing European sales.
Leonardo Zangani of the Zangani Investor Community(tm) will discuss
commercialization of the device at the conference.
"One of the advanced technologies in use at the highly-respected IRST medical
center is CTT's pain management therapy device," said John B. Nano, CTT's
Chairman, President and CEO. "IRST has in place an integrated strategy of care
for cancer patients, including prevention, cure, research and treatment of their
pain. CTT's device is an important and successful part of their treatment
protocols."
Developed in Italy by CTT's client, Prof. Giuseppe Marineo, who will also take
part in the press conference, the device was brought to CTT through the efforts
of Prof. Giancarlo Elia Valori of the Italian business development group,
Sviluppo Lazio S.p.A., and assistance from the Zangani Investor Community. The
device, with a biophysical rather than a biochemical approach, uses a
multi-processor able to simultaneously treat multiple pain areas by applying
surface electrodes to the skin. CTT's partner, GEOMC Co. Ltd. of Korea, is
producing the device commercially for worldwide distribution. GEOMC has invested
about $1.5 million in design and tooling to produce a fully commercial product
for institutional applications.
CTT has filed for FDA 510(k) medical device authorization for U.S. sales, as
well as seeking approval for sales in other countries. CTT is currently in the
process of selecting distributors from a targeted list of companies representing
the U.S. and global markets in Europe, Asia and Latin America. Revenue is
expected to grow in succeeding years as global market penetration increases. CTT
expects revenues to be approximately $20 million per year, as the device attains
mature market levels.
Mr. Nano continued, "This is another example of a CTT technology fulfilling
market needs. CTT's objective is to commercialize this device worldwide. We
believe that revenue and profits from this technology will dramatically exceed
those produced by any other technology in our 40-year history.
"CTT's management team is focused on creating value from technologies, restoring
stockholder value by signing new license agreements. In addition to the pain
management therapy, we are aggressively marketing the breast cancer detection
test, MC Square stress reduction device (www.relaxmc.com), UAD surgical
prosthetics and solar technologies to drive revenue growth, improve
profitability and create shareholder value. Our full technology portfolio may be
viewed on our website."
About Institut Scientific Romagnol Per Lo Studi E La Cura Dei Tumori (IRST)
IRST, The Scientific Institute of Romagna for the Study and Treatment of Cancer,
based in Meldola, Italy, is an advanced center of technological and scientific
excellence on a par with leading national and international cancer research
centers. IRST forms the core of the Romagna Area Vasta oncological network,
entirely integrated within the Regional Health Care System. The experience
gained by Romagna Health Care Services and the Oncological Institute of Romagna
allows IRST to optimize the use of available resources by linking up a number of
research groups and establishing excellent lines of communication between
existing Oncology departments. IRST was founded to strengthen the Romagna
Oncological Framework through technological development and improved information
networks.
The main aims of IRST are to:
* reorganize and rationalize the care and treatment of cancer
within the Romagna region
* introduce a new organizational and management solution allowing
the public and private sectors to work together
* define and improve the standards of oncological research.
About Competitive Technologies, Inc.
Competitive Technologies, established in 1968, is a full service technology
transfer and licensing provider focused on the technology needs of its customers
and transforming those requirements into commercially viable solutions. CTT is a
global leader in identifying, developing and commercializing innovative
technologies in life, electronic, nano, and physical sciences developed by
universities, companies and inventors. CTT maximizes the value of intellectual
assets for the benefit of its customers, clients and shareholders. Visit CTT's
website: www.competitivetech.net
Statements made about our future expectations are forward-looking statements and
subject to risks and uncertainties as described in our most recent Annual Report
on Form 10-K for the year ended July 31, 2007, filed with the SEC on October 29,
2007, and other filings with the SEC, and are subject to change at any time. Our
actual results could differ materially from these forward-looking statements. We
undertake no obligation to update publicly any forward-looking statement.
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CONTACT: IR Services, LLC
Johnnie D. Johnson
860 434 2465
jdjohnson@corpirservices.com
