FAIRFIELD, Conn., July 8, 2002 (PRIMEZONE) -- Competitive Technologies, Inc. (AMEX:CTT) today announced that it is accelerating its program of increasing awareness of homocysteine testing. Many leading medical practitioners recommend that a blood profile include homocysteine testing with each physical examination. According to the White House Website, President George W. Bush had his homocysteine level checked during his past annual physical examination.
Approximately 20 million Americans -- one cardiovascular patient in every three -- have elevated homocysteine levels. Homocysteine has been shown to be a highly sensitive indicator of B12 and/or folate deficiency. Physicians using the homocysteine assay as a diagnostic test are reporting that elevated levels of homocysteine resulting from vitamin B12 and folate deficiency have been associated with cardiovascular and vascular disease, Alzheimer's, rheumatoid arthritis and other diseases.
John B. Nano, President and CEO of CTT said: "From your neighbor to the current President of the United States, for doctors across the country this is a proven diagnostic tool in preventive medicine. As reported in the summary of President Bush's August 2001 physical exam, his homocysteine was tested, and reported at an acceptable level. Homocysteine tests should be an important element of diagnostics, monitoring, and effective treatment for all Americans. It is very rewarding to work with a technology that is helpful to the health of the general public, as well as being beneficial to our shareholders."
CTT has licensed the patent covering performance of assays for homocysteine. The company earns royalties on all homocysteine assays performed and shares these royalties with the University of Colorado and Columbia University.
The American Medical Association said in an August 2001 study that if every person with coronary heart disease began taking B12 and folate over 310,000 lives would be saved in the next ten years. Medicare will pay for the homocysteine assay to be performed provided there is an appropriate diagnostic code relating to history of heart attack, arterial heart disease or cardiac thrombosis disease.
About Competitive Technologies, Inc.
Competitive Technologies, established in 1968, is a global leader in identifying, developing and commercializing innovative life sciences, physical sciences, digital technologies and electronics. CTT's specialized expertise and experience make it a valuable partner to assist technology-rich universities, companies and inventors of all sizes to maximize the value of their intellectual assets. Visit CTT's Website: http://www.competitivetech.net
Statements about the Company's future expectations, including development and regulatory plans, and all other statements in this document other than historical facts are "forward-looking statements" within the meaning of applicable Federal Securities Laws and are not guarantees of future performance. These statements involve risks and uncertainties, including those set forth in Item 1 of the Company's most recent Form 10-K and in CTT's filings with the SEC, and are subject to change at any time. The Company's actual results could differ materially from these forward-looking statements. The Company undertakes no obligation to update publicly any forward-looking statement.