FAIRFIELD, Conn., Jan. 10, 2008 (PRIME NEWSWIRE) -- Competitive Technologies, Inc. (AMEX:CTT) announced today that it has signed a license and commercialization agreement for rights to the patented breast cancer diagnostic technology, Early Breastest(tm). The non-invasive technology generates an analysis that detects angiogenesis, an early predictor of the possibility of cancer. The agreement provides for sharing of revenue derived from the technology.
"According to the World Health Organization, breast cancer is the number one cause of death in women worldwide," said John B. Nano, CTT's Chairman, President and CEO. "The Early Breastest technology is another part of our rapidly developing medical strategy, an example of a CTT technology being at the forefront of the paradigm shift to treat individuals with integrative medicine, combining both traditional medicine and holistic medicine. Our strategy is to exploit resulting dynamic opportunities by broadening our base of technologies that treat individuals with biophysical as well as biochemical methods. We believe this paradigm creates opportunities for CTT.
"Tests have shown this technology to be more accurate than current non-invasive testing methods. Equally as important is its convenience, as it involves disposable adhesive pads embedded with hundreds of thermistors, micro-thermometers, and a wireless feature for real-time use in data acquisition and processing. We believe this technology will provide a safe, early cancer diagnostic for women, especially those under the age of forty, or who are pregnant, and will lead to a reduction in undetected cases of breast cancer, and reduce the number of deaths associated with the disease."
The test was developed through the research of Milton Schonberger, President of Angioscan Corporation of New Milford, N.J., with the input of Dr. Anthony Barbara, a senior surgeon at Hackensack University Medical Center. Mr. Schonberger's patent for the world's first disposable thermometer in the 1960s is the basis for this new technology.
The test is based on cancerous tumors relying upon angiogenesis, the formation of new blood vessels to feed and nourish the tumor, in order to grow and spread. Angiogenic blood vessels do not constrict and therefore do not cool down, as do normal vessels when a patient is given an ice pack to hold in their hands. Tiny sensors embedded in adhesive pads transmit information to a computer. More than 36,000 separate readings sent to the computer in two-cycles are used for analysis to distinguish between tumors and harmless cyst growths. A printout is generated for diagnosis and referral for any necessary follow-up biopsy, digital mammogram or MRI.
Mr. Nano continued, "CTT's management team is focused on creating value from technologies, restoring stockholder value by signing new license agreements. In addition to this new technology, we are aggressively marketing the pain management therapy, MC Square stress reduction device (www.relaxmc.com), solar panels, UAD surgical prosthetics, LED portfolio, and Radio Alert Warning System technologies to drive revenue growth, improve profitability and create shareholder value. Our full technology portfolio may be viewed on our website."
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 made about our future expectations are forward-looking statements and subject to risks and uncertainties as described 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.