FAIRFIELD, Conn., June 14, 2011 (GLOBE NEWSWIRE) -- Competitive Technologies, Inc. (OTCQX:CTTC) today announced that its Board of Directors recently voted to amend the Company's bylaws to increase the number of directors from four to five and to appoint shareholder Peter Brennan as a Director to fill that new Board position.
Peter Brennan, MBA, CFA is a New York-based investor who has worked for over 30 years in the investment management business as an analyst and portfolio manager. In accepting the Board's appointment, he stated, "Over the last year the board has done an excellent job of restructuring the company... I look forward to helping the board to continue to build Competitive Technologies into a commercial success and a major contributor to improving healthcare on a global basis."
"We are quite pleased to have Peter Brennan join the Board," said CTTC Chairman William Reali. "His experience in the healthcare industry, and specifically the medical device arena, will be of great value to the Board. As a significant shareholder, we believe he will bring that perspective and insight to our deliberations as well."
About Competitive Technologies, Inc.
Competitive Technologies is a global leader in developing and commercializing innovative products and technologies. CTTC is multifaceted, providing distribution, patent and technology transfer, sales and licensing services. CTTC's staff is focused on the needs of customers and matching those requirements with commercially viable products or technology solutions.
CTTC is the licensed worldwide distributor of the non-invasive Calmare® pain therapy medical device, which incorporates the biophysical "Scrambler Therapy™" technology developed in Italy by CTTC's client, Professor Giuseppe Marineo, to treat neuropathic pain, including cancer pain. The Calmare® device is currently being manufactured for sale by CTTC's partner, GEOMC Co., Ltd. of Seoul, Korea. For more information on the device, visit www.calmarett.com. Visit CTTC'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, 2010, filed with the SEC on October 27, 2010, 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.