Competitive Technologies, Inc. (NYSE Amex:CTT) announced today that its Geneva, Switzerland-based distributor, Life Episteme SARL, has established a joint venture, Life Episteme Italia srl, with Florence, Italy-based Hospital Consulting SpA, to distribute CTT's pain therapy medical device, Calmare(R) Therapy Treatment throughout Italy.
"Life Episteme is eager to embark on this joint venture with Hospital Consulting,
which is well known in the Italian healthcare sector," said Life Episteme co-founder
Dr. Domenico Pecorini. "This agreement with Hospital Consulting finalizes the first
of several regional joint ventures we have in negotiation as part of our strategy
for distributing CTT's innovative Calmare(R) Therapy Treatment in the global
marketplace."
"Hospital Consulting has the infrastructure in place, and has extensive experience working with healthcare providers throughout Italy," said John B. Nano, CTT's Chairman, President and CEO. "We're pleased to have them join the distribution team for our Calmare(R) Therapy Treatment, which has already successfully treated more than 3,000 patients in Europe and the U.S.
"Pain treatment is moving to the forefront of medical care, globally. In Italy,
Europe's largest university, La Sapienza of Rome, will prominently feature our
Calmare(R) Therapy Treatment at its newly-established medical school dedicated to
the treatment of pain. Hospital Consulting's recognition of important trends in
healthcare confirms our belief that the ability to help patients with debilitating
pain by using our non-invasive pain therapy treatment device is an attractive
alternative for physicians who may be reluctant to prescribe powerful, addictive
narcotics that have been linked to harmful, potentially fatal, adverse side effects.
"Recently, the University of Chicago Medical Center announced that, '... a growing body of evidence is showing that opiate-based painkillers can stimulate the growth and spread of cancer cells.' This makes the rapid introduction of our Calmare(R) Therapy Treatment into the global healthcare marketplace even more compelling. In
fact, similar to the Hippocratic Oath, a fundamental principle taught to all medical
students is 'Primum Non Nocere,' meaning, 'First, do no harm.'"
The Calmare(R) Therapy Treatment is a prime example of CTT's strategy to connect
clinical science to patient care. Developed in Italy by CTT's client, Professor
Giuseppe Marineo, the device was brought to CTT through the efforts of the Zangani
Investor Community(TM) and with the cooperation of Mr. Guiseppe Belcastro, Legal
Counsel for Professor Marineo. The device, with a biophysical rather than a
biochemical approach, uses a multi-processor able to simultaneously treat multiple
pain areas by applying surface electrodes to the skin. CTT has exclusive worldwide
rights to the Calmare(R) Therapy Treatment which has U.S. FDA acceptance and Medical
Device CE Mark certification from the E.U. allowing sales throughout the U.S.,
Europe and several other countries. CTT partner, GEOMC Co., Ltd. of Korea, is
producing the device commercially for worldwide distribution. Several distribution
agreements, including the one with Life Episteme, are in place covering 45 countries
around the world, accounting for nearly 55% of the world's population. For more information on the device, visit www.CalmareTT.com.
About Hospital Consulting, SpA
Based in Florence, Italy, Hospital Consulting SpA provides advisory, management and organizational services to the healthcare and environment sectors. Hospital
Consulting provides hospitals and other health care providers throughout Italy with
valuable training, facility design and development as well as innovative risk
assessment and information technology solutions. For more information, see Hospital
Consulting's website: www.hospital-consulting.it.
About Life Episteme SARL
The privately held Life Episteme SARL based in Geneva, Switzerland, is a medical
device distribution company. The experience of the co-founders, Dr. Domenico
Pecorini, Vincenzo de Bustis Figarola, and Paolo Pepe, has provided the group with
strong relationships in government, business, and technology spheres in various
countries around the world. Visit Dr. Pecorini's website: www.scienceparkrome.eu.
About Life Episteme Italia, srl
This newly formed Joint Venture will benefit from the know-how and contacts of both Hospital Consulting (HC) and Life Episteme SARL group (LEG). The success of the
operation will be pursued sharing competencies and dedicating high-profile
resources. LEG will bring strong relationships, financial services and
internationalization to the partnership. HC will provide decades of presence,
success and experience in the market. The President of Life Episteme Italia (LEI)
will be Dott.ssa Marisa Giampaoli, Managing Director of Hospital Consulting group,
who is well respected at the highest levels of the Italian public and private health
sector. Umberto Marangoni, the Country General Manager for Hospital Consulting, will
serve as LEI's Managing Director. Before becoming the Country General Manager, he
worked many years in the same positions in Italy and abroad, for Ohmeda and Draeger
Medical, the world leaders in Anesthesia and Critical Care. LEI and the Italian
activities will become fully operational beginning January 1, 2010.
About Zangani Investor Community(TM)
The Zangani Investor Community(TM) was created to facilitate scientific and
commercial relationships between American, European and Chinese entities. Visit
Zangani's website: www.zangani.com.
About Professor Guiseppe Marineo
Professor Guiseppe Marineo is a researcher and bioengineer, who advanced theories to reformulate the concept of disease and the corresponding treatment from a
biophysical rather than a biochemical point of view. He is the founder of Delta R&D,
a bioengineering research center with a unique history. Visit Delta R&D's website:
www.deltard.com/eng.
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, 2009, filed with the SEC on October 27, 2009,
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.
Tuesday, December 15, 2009
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