FAIRFIELD, Conn., July 17, 2007 (PRIME NEWSWIRE) -- Competitive Technologies, Inc. (AMEX:CTT) announced today that Thomas Jefferson University (Jefferson) has licensed a patent-pending technology designed to reduce age-related memory loss to Seoul, Korea-based Daeyang E&C, Inc. (KOSDAQ:033030). CTT will acquire U.S. distribution rights for the device incorporating this technology. Researchers at Jefferson, based in Philadelphia, conducted studies on the improvement of attention and concentration with Daeyang's modified MC Square device. As a result of these studies, Jefferson's researchers and Daeyang E&C jointly filed a patent to utilize the improved MC Square device as a method of treatment for age-related memory loss. Under the licensing agreement, Daeyang is granted exclusive commercial rights to the technology.
Based on the patent-pending treatment method, the MC Square target market is normal, healthy individuals that report, or are at risk of, mild memory loss. CTT expects to target this large growing segment of the U.S. population with marketing and distribution plans for MC Square that focus on user experience with the device.
The MC Square device utilizes synchronized sound and light rhythms to influence brain activity. The original device, created in Korea, has sold over 1.2 million units in Korea as an educational tool.
The Alzheimer's Association (www.alz.org) estimates that risk and costs associated with age-related memory loss contribute to the estimated costs for Alzheimer's and other dementias of $148 billion annually. Alzheimer's is a progressive, degenerative disease that alters the brain, causing impaired memory, thinking and behavior. It is estimated that nearly 13% or 4.9 million people age 65 and over have Alzheimer's, and that by 2050 the number of Americans with this disease could range from 11 to 16 million unless a way is found to prevent or effectively treat this disease.
About Thomas Jefferson University
Thomas Jefferson University, based in Philadelphia, PA, is an academic health center consisting of Jefferson Medical College, Jefferson College of Graduate Studies, Jefferson College of Health Professions and associated university services. Dedicated to the health sciences, Jefferson educates professionals in a variety of disciplines to form and lead the integrated healthcare delivery and research teams of tomorrow; discovers new knowledge that will define the future of clinical care through investigation from the laboratory to the bedside, and into the community; and sets the standard for quality, compassionate and efficient patient care for their community and for the nation. Jefferson accomplishes its mission in partnership with Thomas Jefferson University Hospital, its education and clinical care affiliate. Visit Jefferson's website: www.jefferson.edu
About Daeyang E&C
Daeyang E&C, founded in 1979, is a publicly traded company in Korea (KOSDAQ: 03303) with a market capitalization of $200 million. With a stated corporate philosophy of "Customer success is equivalent to corporate success," Daeyang is the market leader in its unique product segments. To fulfill the company's principle of returning profit to its customers, Daeyang created the MC Square Scholarship in 1993 with over 1,600 scholarships granted to date. Daeyang manufactures and markets a neuroscience device for increasing study efficiency called MC Square that has been established as a strong consumer brand name in Korea. Daeyang E&C accesses multiple business fields, especially in the IT and biotechnology industries, through the resources available from its affiliate Daeyang Venture Capital Ltd., also of Korea. Daeyang develops these VC business lines in health-related fields based on neuroscience technologies. Visit Daeyang's website: www.daeyangenc.com
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, 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
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