Competitive Technologies Licensee Presents PT-141 Data

Palatin Technologies' PT-141 Increases Sexual Behavior in Female Animals

FAIRFIELD, Conn., Oct. 26, 2001 (PRIMEZONE) -- Competitive Technologies, Inc. (AMEX:CTT) announced today that scientists at its exclusive licensee Palatin Technologies, Inc. (AMEX:PTN), in collaboration with the Concordia University in Montreal, has reported that preclinical studies have demonstrated that PT-141 significantly enhances sexual behavior in female rodents.

PTN is developing PT-141 as an investigational treatment for male and female sexual dysfunction. Data from preclinical efficacy studies of PT-141 will be presented Saturday, October 27, at the Female Sexual Function Forum (FSFF) Meeting in Boston, Mass. Annette M. Shadiack, Ph.D, Director, Biological Research at Palatin, will present the results.

The studies' objectives were to evaluate PT-141's ability to enhance sexual behavior in female rodents. The studies were designed to allow for the evaluation of PT-141's effect on a variety of normal precopulatory sexual behaviors that are used by female rodents to heighten sexual arousal in their male partners. Female animals given PT-141 showed a significant, dose-responsive increase in a variety of these precopulatory sexual behaviors and actively solicited sexual contact from the males. Importantly, PT-141 treatment increased the female rodents' desire to copulate.

PT-141 is a peptide analog of the neuropeptide hormone alpha MSH (alpha melanocyte-stimulating hormone). Scientists have determined that receptors for this class of molecules (melanocortin receptors) play a role in several behaviors including appetite and sexual arousal. Recent findings indicate the effects on sexual function may be stimulated through melanocortin receptors in the brain. As a result, PTN believes PT-141 has the potential to offer a unique treatment for both male and female sexual dysfunction.

PTN is a CTT exclusive licensee for the underlying technology, developed at the University of Arizona, used in developing PT-141. Revenues generated from any FDA approved PTN products using CTT technologies will produce royalties for CTT and its client, the University of Arizona.

"The positive results of these studies are encouraging," said Frank R. McPike, Jr., President and CEO of CTT. "PTN is making significant progress in bringing this treatment to the public for both men and women."

"These data suggest that stimulation of melanocortin receptors in the brain by PT-141 selectively increased motivation for sexual activity in female rodents. The results indicate that PT-141 has potential to offer a unique treatment for women with desire disorders," said Dr. Shadiack.

Perry Molinoff, M.D., Executive Vice President of Research & Development of Palatin said, "We are very excited about these results, which, in combination with the positive safety results from our Phase I clinical study in men, provide the basis for advancing this investigational drug into Phase II efficacy trials in women with Female Sexual Dysfunction early next year."

PTN recently completed a Phase I safety trial with PT-141 in men that demonstrated a positive safety profile. PTN reported that PT-141 was well tolerated at all doses, there were no significant changes in blood pressure, heart rate or respiration rate, and investigators reported no serious side effects. A Phase IIA efficacy study of patients with ED is scheduled to begin later this year.

Competitive Technologies' licensee, PTN, located in Princeton, N.J., is a development-stage biopharmaceutical company with products in development using its enabling peptide platform technologies, and proprietary radiolabeled monoclonal antibody.

About Competitive Technologies, Inc.

Competitive Technologies is a global leader in identifying, developing and commercializing innovative life sciences, physical sciences and digital technologies. Competitive Technologies' specialized expertise and experience make it a valuable partner for inventors, companies and universities of all sizes. CTT has been responsible for closing hundreds of licensing agreements. CTT clients and licensees include: Sony, Matsushita Electric Industrial, the University of Arizona, the University of Colorado, the University of Illinois, Digital Ink, Inc., NTRU Cryptosystems, Inc., Palatin Technologies, Inc. and Ribozyme Pharmaceuticals, Inc. Competitive Technologies, Inc. is based in Fairfield, Connecticut and has affiliates in Osaka, Japan and London, England.

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 related to market acceptance of and competition for the Company's licensed technologies and other risks and uncertainties inherent in CTT's business, including those set forth in Item 1 of the Company's most recent Form 10-K and other factors that may be described in CTT's 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.


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