FAIRFIELD, Conn., Nov. 14, 2007 (PRIME NEWSWIRE) -- Competitive Technologies, Inc. (AMEX:CTT) is announcing the launch of their MC Square product in the U.S. at a media event today at the W New York - Times Square Hotel in New York City. Information has been provided to broadcast and print outlets including CNN, MSNBC, Fox, CNBC, Headline News, Bloomberg, The New York Times and The Wall Street Journal. The revolutionary light and sound system is designed to provide stress relief, and improve verbal memory, learning and attention. CTT has U.S. distribution rights for the patent-pending technology licensed by Thomas Jefferson University of Philadelphia (Jefferson) to Seoul, Korea-based Daeyang E&C, Inc. (KOSDAQ:033030).
"The timing is right for CTT's healthcare strategy promoting products such as MC Square that embrace today's integration of traditional and holistic medical methods for treating illness and pain," said John B. Nano, CTT's Chairman, President and CEO. "CTT's goal is to be at the forefront of this paradigm shift of treating individuals with biophysical as well as biochemical methods. We believe this shift creates dynamic opportunities for CTT. In addition to the MC Square for stress reduction, CTT has the pain management therapy in its portfolio of innovative technologies. Both of these new technologies fulfill the increasing need for biophysical applications in the healthcare market."
The MC Square product will be available at the InMotion store in Grand Central Terminal in New York City, and is currently available online at www.relaxmc.com. CTT had a trial retail-marketing program in place for the MC Square product during October at Time Warner Center's Shops at Columbus Circle in New York City. The product was available for demonstration and sale at that location. Based on the positive results, CTT is now building an aggressive program to attract distributors for product sales and marketing.
The original product, created in Korea, designed to provide stress relief, improved concentration and relaxation, and as a learning aid, has sold over 1.5 million units. Research at Jefferson was conducted by Neuropsychologist Joseph I. Tracy, Ph.D, associate professor of Neurology and Radiology, Jefferson Medical College of Thomas Jefferson University, and Director, Cognitive Neuroscience and Brain Imaging Laboratory Thomas Jefferson University Hospital, and Michael R. Sperling, MD, Baldwin Keyes Professor & Vice Chairman for Clinical Affairs at Jefferson Medical College, and Director of the Thomas Jefferson Comprehensive Epilepsy Center, Department of Neurology. An article published in August in the Vol. 3, No. 2 2007 issue of the International Journal of Learning Technology, "A test of the efficacy of the MC Square device for improving verbal memory, learning and attention," detailed their research.
The MC Square uses Audio-Visual Stimulation through synchronized sound and light rhythms to influence brain activity. Jefferson's researchers and Daeyang E&C jointly filed a patent to utilize the improved MC Square product 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 has been expanded from students to include normal, healthy individuals that report, or are at risk of stress related illnesses and/or mild memory loss.
Mr. Nano added, "In addition to the stress reduction and pain management technologies, CTT is aggressively marketing our UAD tubular-connection, LED portfolio, bone biomaterial, Radio Alert Warning System, and Lupus diagnostic and monitoring technologies. CTT is focused on creating value from our technologies, utilizing our strong sales team and effective global alliances to drive revenue growth, improve profitability and create shareholder value. Our full technology portfolio may be viewed on our website."
About InMotion Entertainment
Altitunes and InMotion Pictures joined forces in 2005 to form InMotion Entertainment, creating an unparalleled travel entertainment destination. InMotion Entertainment has locations in over 50 airports in the U.S., and is also in Grand Central Terminal in New York City. They are the largest Entertainment and Electronics Airport Retailer in the US. Offerings include a unique blend of cutting-edge electronics, accessories, music, movies and rental services. Visit InMotion's website: www.inmotionpictures.com
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
Statements about our future expectations are "forward-looking statements" within the meaning of applicable Federal Securities Laws, and are not guarantees of future performance. When used herein, the words "may," "will," "should," "anticipate," "believe," "appear," "intend," "plan," "expect," "estimate," "approximate," and similar expressions are intended to identify such forward-looking statements. These statements involve risks and uncertainties inherent in our business, including those set forth in Item 1A under the caption "Risk Factors," in our most recent Annual Report on Form 10-K for the year ended July 31, 2007, filed with the SEC on October 29, 2007, 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.