FAIRFIELD, Conn., April 1, 2010 (GLOBE NEWSWIRE) -- Competitive Technologies, Inc. (NYSE Amex:CTT) announced today that it has received shipping instructions for 100 of its Calmare® Therapy Treatment medical devices from its Switzerland-based distributor, Life Epistéme Group. The first 40 of these devices have just been shipped. The balance of the order will be shipped over the next three months.
"It is exciting to witness the growing success of Life Epistéme's sales and marketing plans for our Calmare Therapy Treatment medical device," said John B. Nano, CTT's Chairman, President and CEO. "The growing sales in Italy reflect the Italian focus on pain treatment which led to last Fall's planned establishment of a new medical school at Rome-based La Sapienza, Europe's largest university. We now expect Life Epistéme to focus on other countries and regions within their distribution area.
"It's rewarding to see this concrete example of our innovative pain therapy device gaining a greater foothold in the global healthcare market. We are all committed to improving patients' quality of life with this highly effective, non-invasive medical device for treating high intensity oncologic and neuropathic pain, including pain resistant to morphine, without the adverse and harmful side effects linked to narcotic painkillers. The Calmare medical device is a prime example of our strategy to connect clinical science to patient care."
The non-invasive Calmare Therapy medical device, which uses "Scrambler Therapy" developed in Italy by CTT's client, Professor Giuseppe Marineo, was brought to CTT through the efforts of the Zangani Investor Community™ and with the cooperation of Mr. Giuseppe Belcastro, Legal Counsel for Professor Marineo. CTT's partner, GEOMC Co. Ltd. of Seoul, Korea, has current manufacturing facilities capable of commercially producing 200 pain therapy medical devices per month and the partners have agreed to expand production capacity to an increased production level of 600 units per month to match increased order demand. 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, 2009, filed with the SEC on October 27, 2009, 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.