Competitive Technologies Licensee Reports PT-141 Data for Females


FAIRFIELD, Conn., Oct. 1, 2002 (PRIMEZONE) -- Competitive Technologies, Inc. (AMEX:CTT) announced today that its exclusive licensee Palatin Technologies (AMEX:PTN) reported positive results from PT-141 administered to normal premenopausal women in a Phase 1 clinical trial in the development of Female Sexual Dysfunction (FSD) treatment. The licensed technology, synthetic analogues of alpha-MSH (alpha-melanocyte-stimulating hormone), was invented by a team of researchers at CTT's client, the University of Arizona.

Cranbury, N.J.-based PTN said that PT-141 was shown to be safe in women and yielded significant improvement in vaginal blood flow, the study's primary endpoint, as compared to subjects treated with placebo (p less than 0.05). The study, sponsored by Palatin and conducted in collaboration with Dr. Raymond Rosen, Professor of Psychiatry and Medicine at the University of Medicine and Dentistry, New Jersey, enrolled 32 healthy female volunteers and evaluated their response to PT-141 or a placebo in the presence of visual sexual stimulation.

"CTT continues to be encouraged by the progress of the PT-141 trials for both men and women," said John B. Nano, CTT's President and CEO. "The technology has been licensed to Palatin for development of its sexual dysfunction properties. This is a perfect example of a CTT-licensed technology satisfying the needs and wishes of the market."

Perry Molinoff, MD, Palatin's Executive VP of Research and Development commented: "Given these encouraging results, it appears that PT-141 may possess the pharmacological properties required to become an effective therapy for the treatment of FSD. We plan to evaluate PT-141 in women with arousal disorders in clinical studies beginning in early 2003."

Up to 43% of women suffer from FSD, according to the Journal of the American Medical Association. More than 30 million women in the U.S. alone are affected. Palatin's research suggests that PT-141 works through stimulation of receptors in the central nervous system rather than acting directly on the vascular system. In preclinical animal models, administration of PT-141 resulted in dramatic increases in female solicitations of their male partners. These initial animal studies formed the basis for the Company's current clinical trial in normal human females.

PT-141 is also in development for the treatment of Male Erectile Dysfunction (MED) and Palatin recently announced positive Phase 2A data with PT-141 for MED at the International Society for Sexual and Impotence Research meeting in Montreal. Palatin plans to start Phase 2B MED trials evaluating PT-141 this fall.

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, inventors and companies, 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.



            

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