FAIRFIELD, Conn., Aug. 3, 2009 (GLOBE NEWSWIRE) -- Competitive Technologies, Inc. (NYSE Amex:CTT) announced today that its homocysteine patent re-examination has been upheld by the U.S. Patent and Trademark Office's Board of Patent Appeals and Interferences (BPAI). CTT's patent rights were previously upheld by the U.S. Supreme Court and U.S. District Courts.
The contested license fees at issue in this case are estimated to be worth over $5 million, including interest and penalties. The patent was re-examined pursuant to the lawsuit brought in the Colorado U.S. District Court in 2005 by CTT to protect its patent rights and those of its clients and licensees from unlicensed use of the technology by defendants Carolina Liquid Chemistries Corporation, General Atomics, and Catch Inc.
"CTT and its clients have successfully prevailed in this review and in every court case including the U.S. Supreme Court," stated John B. Nano, CTT's Chairman, President and CEO. "We expect to have ultimate success as the case progresses through the Colorado District Court as well."
The homocysteine technology is one of CTT's outstanding technologies derived from discoveries made by CTT's clients Drs. Robert Allen and Sally Stabler from the University of Colorado and the late Dr. John Liberbaum from Columbia University. Additional technologies that generate revenue include CTT's pain therapy medical device, bone biomaterial, melanocortins, MPEG-4 image coding and compression, and structural crack detection paint. CTT's management team is focused on creating value from technologies and increasing shareholder value.
About Competitive Technologies, Inc.
Competitive Technologies, established in 1968, provides distribution, patent and technology transfer, sales and licensing services focused on the needs of its customers and matching those requirements with commercially viable product or technology solutions. CTT is a global leader in identifying, developing and commercializing innovative products and 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, 2008, filed with the SEC on October 28, 2008, 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.