FAIRFIELD, Conn. and ROME, July 25, 2007 (PRIME NEWSWIRE) -- Competitive Technologies, Inc. (AMEX:CTT) announced today at a press conference in Rome, sponsored by Sviluppo Lazio S.p.A. (www.sviluppo.lazio.it), that it has obtained exclusive worldwide distribution rights to a pain management therapy for treating oncological/neuropathic pain. CTT signed the distribution agreement with Professor Giuseppe Marineo and Delta Research & Development, both of Rome.
"Professor Giancarlo Elia Valori, President of Sviluppo Lazio, and his organization, in cooperation with the Zangani Investor Community, has made this agreement possible within thirty days of our initial meeting with Professor Marineo," said John B. Nano, CTT's Chairman, President and CEO. "This agreement is an example of CTT's new management team aggressively utilizing their effective global alliances. The Marineo technology represents another instance of CTT locating a technology to fulfill an important consumer need. The effective pain-management therapy, a non-invasive treatment of pain, with no side effects, will target the $3.5-billion pain management sector. We look forward to bringing this technology to the market to increase revenue and strengthen shareholder value."
The pain management therapy has been clinically tested in Italian hospitals on over 260 patients with very successful results. The method incorporates electromedical equipment for electronic nerve stimulation, and uses the nerve fiber as a passive means to convey a message of normality to the central nervous system (CNS) by a procedure defined as scrambling or mixing of information, which then enables the CNS to modify the reflex adaptive responses. The non-invasive treatment uses the Scrambler Therapy ST5, a multiprocessor apparatus able to simultaneously treat multiple pain areas in the individual. Application is by means of single-use surface electrodes applied to the skin area corresponding to the pain area(s) involved. Delta R&D (www.deltard.com/eng/), formed in May 1998, is a Medical Bioengineering Research Centre affiliated with Tor Vergata University of Rome.
"This method of treating pain is in keeping with my theories reformulating the concept of disease, and the corresponding treatment, to a biophysical rather than biochemical point of view," said Dr. Marineo, a researcher and bioengineer, and the founder and manager of Delta Research & Development. "We successfully created Scrambler Therapy, an 'intelligent' electronic machine, which was capable of adequately supporting our theoretical assumptions."
Mr. Nano continued, "This is another step in building a strong, viable portfolio of innovative technologies to create value for our clients, for CTT and for our shareholders. CTT is actively marketing our nutraceutical ingredients technology, molecular memory devices, HB LED technology, bone biomaterial, cholesterol trapping/regeneration technology, and Lupus diagnostic and monitoring technology to drive revenue growth, improve profitability and create shareholder value."
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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