CTT Pain Therapy Medical Device Reviewed by Newspapers
FAIRFIELD, Conn., July 13, 2009 (GLOBE NEWSWIRE) -- Competitive Technologies,
Inc. (NYSE Amex:CTT) and its pain therapy medical device were featured in an
article on Friday, July 10, 2009 in three newspapers.
"Our non-invasive pain therapy treats pain without the harmful side effects of
narcotic painkillers, including morphine, Demerol, Vicodin, Percocet and
Acetaminophen, that have recently caused serious concerns by the U.S. Food and
Drug Administration (FDA)," said John B. Nano, CTT's Chairman, President and CEO
who was interviewed for the article. "Cleared for use by the FDA, the device
provides rapid treatment of high-intensity oncologic and neuropathic pain,
including pain resistant to morphine and other drugs. CTT's pain therapy also
has Medical Device CE certification from the European Union."
In the interview, Nano pointed out, "Our device provides pain sufferers with an
alternative to manage their pain while avoiding the hazards of harmful narcotics
and surgical implants often used for severe pain. The technology used by many
doctors for pain treatment may include permanent spinal implants that require
invasive spinal surgery in a hospital and harmful narcotics. The spinal
implantation includes electrodes into the spine monitored by a control device
that must be used continuously to block the pain. Pain medication to recover
from the surgery may also be required. With our non-invasive pain therapy,
patients have the option of having up to ten 45-minute treatments over a
two-week period. Over the course of treatment, our pain therapy progressively
alters the signals sent through the nerve pathway from pain into no-pain
signals. By altering the pain signal, our therapy quickly and cost-effectively
provides relief from debilitating pain.
"For 3,000 years people have attempted to block the pain signal by methods that
appear almost barbaric in comparison to our pain therapy that changes the signal
to no pain, similar to noise cancellation technology. Why would a patient want
to have an electrical device surgically and permanently implanted in their spine
involving harmful narcotics and a very costly hospital surgery and stay, when an
alternative is available with a non-invasive treatment that has no harmful side
effects, and is administered in a doctor's office during ten 45-minute
sessions," Nano commented.
"Our non-invasive pain therapy without harmful side effects brings CTT to the
forefront in providing a solution to the needs of patients seeking pain relief
and improves palliative healthcare while addressing the FDA's safety concerns
regarding a number of harmful, narcotic pain relievers, and reducing healthcare
costs. It is a prime example of our strategy to connect clinical science to
patient care."
Several studies report that nearly 10% of adults in the U.S. suffer from
moderate-to-severe pain, with over 50% of that group experiencing chronic or
recurrent pain. The U.S. market for prescription pain drugs is nearly $5.0
billion, with nearly half for treatment of cancer pain, and about 40% for
orthopedic pain, including lower back pain. "Additionally, our pain therapy also
treats neuropathic pain, the result of nerve damage, which is difficult to treat
with traditional pain medications," Mr. Nano added.
Developed in Italy by CTT's client, Prof. Giuseppe Marineo, the technology was
brought to CTT through the efforts of the Zangani Investor Community(tm). The
unit, 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
manufacturing the device commercially for worldwide distribution. For more
information on the device, visit www.CalmareTT.com.
Links to newspaper articles:
http://www.connpost.com/businessnews/ci_12804694
http://www.stamfordadvocate.com/ci_12804694
http://www.greenwichtime.com/ci_12804694
About Competitive Technologies, Inc.
Competitive Technologies, established in 1968, provides distribution, patent and
technology transfer, sales and licensing services focused on the needs of its
customers and matching those requirements with commercially viable product or
technology solutions. CTT is a global leader in identifying, developing and
commercializing innovative products and 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, 2008, filed with the SEC on October 28,
2008, 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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