FAIRFIELD, Conn., July 7, 2003 (PRIMEZONE) -- Competitive Technologies, Inc. (AMEX:CTT) announced today that it has signed a service and representation agreement with the University of Jyvaskyla of Finland to license and commercialize inventions and technologies created by faculty, staff, and students of the University.
John B. Nano, CTT's President and CEO said, "This agreement is another step in broadening CTT's portfolio of innovative technologies needed to fulfill the wish lists of our customers. By obtaining the rights to bring globally developed digital, communications and physical technologies to the market, we enhance CTT's ability to provide the innovative technologies the market demands. This agreement with the highly respected University of Jyvaskyla will produce revenues for both the University and CTT, enabling the school to concentrate on research and development, and allowing them to benefit from CTT's expertise in technology transfer and commercialization. It is our strategy to turn technology solutions into commercial dollars, leveraging our unique position in the $150 billion market for technology licensing and strengthening shareholder value."
CTT has a strong background of partnering with and representing world-renowned educational and research organizations. The Finland-based Jyvaskyla joins a broad group of academia that recognizes the benefits of experience and expertise that CTT brings to such relationships. CTT licensing/commercialization agreements are also in place with other leading global universities and laboratories for licensing innovative technologies.
About University of Jyvaskyla
The University of Jyvaskyla is primarily responsible for teaching and research in the fields of information technology, education, physical and health education, social sciences, psychology, business, natural sciences and the humanities. The school's multidisciplinary scientific profile, including the Centres of Excellence in Research unit, focuses on several topics, including ecology, and nuclear physics. There are nearly 15,000 degree students, with exchange students from some 150 foreign universities and research collaborators in almost a thousand universities around the world. As part of its commitment to research, the school is a member of The Foundation for Finnish Inventions. The Foundation, established in 1971, supports and promotes Finnish invention through consultancy, evaluation and protection of inventions, funding product development and promotion.
About Competitive Technologies, Inc.
Competitive Technologies, established in 1968, is a full-service technology transfer and licensing provider focused on the technology needs of its customers and transforming those requirements into commercially viable solutions. CTT is a global leader in identifying, developing and commercializing innovative technologies in life, digital, nano, and physical sciences developed by universities, companies and inventors. The global market for technology transfer services is estimated at $150 billion annually. CTT maximizes the value of intellectual assets for the benefit of its customers, clients and shareholders. 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 other 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.