Competitive Technologies, Inc. (NYSE Amex:CTT) announced today that the Fondazione Parco Biomedico San Raffaele of Rome began offering professional training courses for medical doctors on the use of CTT's pain therapy medical device. Training for use of the device, known in Italy as "Scrambler Therapy, an innovative methodology for the treatment of chronic and elevated neuropathic pain," began on September 14, 2009.
"It has been rewarding to see this pain therapy medical device gain recognition within the medical community over the past several months," said John B. Nano, CTT's Chairman, President and CEO. "We are delighted to be able to offer this non-invasive solution to those suffering from chronic pain. We are excited to know that doctors in Italy are learning to treat patients suffering from high-intensity oncologic and neuropathic pain, including pain resistant to morphine and other drugs. This device is a prime example of our strategy to connect clinical science to patient care. With US FDA 510(k) clearance and Medical Device CE certification from the European Union, this medical device has successfully treated over 3,000 patients in Europe and dozens of patients in the U.S. at hospitals and pain therapy centers."
According to the Fondazione Parco Biomedico San Raffaele of Rome, "medical doctors arrived from all over Italy to the Fondazione premises in Castel Romano, to meet with the scientist, Giuseppe Marineo, who developed the scientific research, thanks also to a collaboration program between the Fondazione Parco Biomedico San Raffaele and University of Roma 'La Sapienza', in charge of the scientific direction. Giuseppe Marineo illustrated the theory and application techniques of the innovative pain treatment system with patients that experience a significant sense of relief from the first applications also in morphine resistant cases." For more information about the Foundation, please see http://www.scienceparkrome.eu/. For more information about the University of Roma La Sapienza, see http://www.uniroma1.it/.
Developed in Italy by CTT's client, Prof. Giuseppe Marineo, 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(TM). 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. In February 2009, CTT granted Life Episteme srl, an Italy-based medical device distributor, exclusive rights to distribute CTT's pain therapy medical device in each of 29 countries throughout Europe, Asia, Africa, the Middle East, South America and Oceania. CTT partner, GEOMC Co., Ltd. of Korea, is producing the device commercially for worldwide distribution. For more information on the device, visit www.CalmareTT.com.
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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