FAIRFIELD, Conn., Feb. 25, 2009 (GLOBE NEWSWIRE) — Competitive Technologies, Inc. (NYSE Alternext US:CTT) appear today that the US Federal Drug Administration (FDA) has issued a 501(k) letter of allotment acceptance US sales of CTT’s affliction analysis medical device. The accessory is a non-invasive adjustment for accelerated analysis of high-intensity oncologic and neuropathic pain, including affliction aggressive to morphine and added drugs. The FDA allotment expands CTT’s opportunities for sales in both the US and globally. CTT has absolute common rights to this patented device. The CTT accessory additionally has Medical Accessory CE acceptance from the European Union acceptance sales throughout Europe and several added countries.
“Our antecedent focus in the US will be to the above US blight centers, and to baddest medical accessories distributors for sales to hospitals, affliction clinics, auberge centers and affliction administration specialists,” said Aris D. Despo, CTT’s Executive VP, Business Development. “The FDA approval and our all-embracing distributors are cogent accomplish in CTT’s all-around commercialization of this advance medical device, which offers abatement to patients adversity acute pain. Our accessory provides a admired apparatus to the analyst in alms an able analysis affairs that can absolutely appulse the affection of activity of a accommodating who has not contrarily responded to accepted ameliorative protocols, including morphine.”
In accession to the Country-exclusive administration rights accepted to Activity Episteme srl for anniversary of 29 countries throughout Europe, Asia, Africa, the Middle East, South America and Oceania, beforehand agreements accepted Country-exclusive administration rights to Excel Activity Sciences, Inc. for India, to GEOMC Co., Ltd. for Korea, to AG Healthcare for Malaysia, and to Biogene Pharma Limited for Bangladesh. The analysis and alternative action for distributors in added countries is continuing. The U.S. Department of Commerce estimates the apple bazaar for medical accessories at $248 billion. The United States represents about bisected that market.
“The FDA’s approval brings CTT to the beginning in accouterment a band-aid to the needs of patients and the advance of booze healthcare in the U.S. and globally,” said John B. Nano, CTT’s Chairman, President and CEO. “This technology is a prime archetype of our action to affix analytic science to accommodating care. We accept that acquirement and profits from the affliction administration technology will decidedly access CTT’s bazaar capitalization.”
Developed in Italy by CTT’s client, Prof. Giuseppe Marineo, the technology was brought to CTT through the efforts of Prof. Giancarlo Elia Valori of the Italian business development group, Sviluppo Lazio S.p.A., and abetment from the Zangani Investor Community. The unit, with a biophysical rather than a biochemical approach, uses a multi-processor able to accompanying amusement assorted affliction areas by applying apparent electrodes to the skin. CTT’s partner, GEOMC Co. Ltd. of Korea, is accomplishment the accessory commercially for common distribution. For added advice on the device, appointment www.CalmareTT.com.
The accessory has been acclimated on over 3,000 patients in Europe, including at the Affliction Administration Center at Tor-Vergata University Medical Center in Rome (www.ptvonline.it/uo_ter_ant_ing.asp), and at Fondazione Parco Biomedico San Raffaele in Rome (www.scienceparkrome.eu).
About Competitive Technologies, Inc.
Competitive Technologies, accustomed in 1968, provides distribution, apparent and technology transfer, sales and licensing casework focused on the needs of its barter and analogous those requirements with commercially applicable artefact or technology solutions. CTT is a all-around baton in identifying, developing and commercializing avant-garde articles and technologies in life, electronic, nano, and concrete sciences developed by universities, companies and inventors. CTT maximizes the amount of bookish assets for the account of its customers, audience and shareholders. Appointment CTT’s website: www.competitivetech.net
Statements fabricated about our approaching expectations are advanced statements and accountable to risks and uncertainties as declared in our best contempo Annual Report on Form 10-K for the year concluded July 31, 2008, filed with the SEC on October 28, 2008, and added filings with the SEC, and are accountable to change at any time. Our absolute after-effects could alter materially from these advanced statements. We undertake no obligation to amend about any advanced statement.
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