21:00 | 13.01.2010
DGAP-News: Competitive Technologies Commercially Launches Pain Management Medical Device in U.S.
Competitive Technologies, Inc. /
13.01.2010
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Calmar Pain Relief’s First Treatment Center Site of Launch
NORTH PROVIDENCE, R.I., Jan. 13, 2010 (GLOBE NEWSWIRE) — Competitive
Technologies, Inc. (NYSE Amex:CTT) announced that its Calmare(R) Therapy
Treatment medical device has been commercially launched at Rhode Island-based
Calmar Pain Relief, LLC’s first Pain Therapy Center in North Providence, RI.
CTT and Calmar demonstrated and reviewed the benefits of this innovative,
non-invasive pain management therapy at a press briefing here, today.
‘Calmare Therapy Treatment is a non-invasive medical device for treating high
intensity oncologic and neuropathic pain, including pain resistant to morphine,
without the adverse and harmful side effects linked to narcotic painkillers,’
said John B. Nano, CTT’s Chairman, President and CEO. ‘We are thrilled to
showcase this success story to the media and to a Korean delegation that
included company leaders from GEOMC Co, Ltd., our device manufacturer, as well
as representatives from an institutional investment group. Everyone is
impressed with Calmar’s state-of-the-art facilities in North Providence where,
with four of our Calmare Therapy Treatment devices, as many as 30 patients can
be treated each day.’
‘As a physician, I appreciate the opportunity to participate in the continuing
evolution of pain relief therapy,’ said Dr. Stephen D’Amato, Calmar Pain
Relief’s Medical Director, ‘and be able to relieve the suffering of patients,
particularly within the context of my medical oath ‘Primum Non Nocere’ (first
do no harm). Calmare is a non-addictive therapy, in sharp contrast to the host
of pain killers on the market today.’ A 1976 graduate of the University of
Padua, in Italy, Dr. D’Amato used his fluency in Italian when he met with
Calmare inventor Prof. Giuseppe Marineo, in Rome last year to learn the
advanced applications of the pain therapy medical device. Dr. D’Amato is the
premier U.S. medical expert in the use of CTT’s Calmare Therapy Treatment.
‘We are quite pleased to be here due to the importance of the U.S. market for
our overall commercial success,’ said Seung Bum Oh, GEOMC’s Executive Vice
President. ‘We are impressed with this business model and are fully committed
to ensuring that our manufacturing capacity supports the growing worldwide
order pattern.’
‘Calmar Pain Relief is excited about our first clinic here in Providence, which
has been successfully treating patients suffering from severe pain since
November of 2009,’ said Robert Smith, Calmar Pain Relief Managing Member. ‘Our
business plan calls for the opening of similar pain treatment clinics featuring
CTT’s Calmare Therapy Treatment devices in ten additional U.S. cities in the
next 24 months.’
‘The Calmare Therapy Treatment is a prime example of CTT’s strategy to connect
clinical science to patient care with proven efficacy and safety as validated
by our U.S. FDA acceptance and European Union CE Certification,’ Mr. Nano said.
‘We currently have distribution agreements in place covering 45 countries
around the world, accounting for nearly 55% of the world’s population.’
Developed in Italy by CTT’s client, Professor Giuseppe Marineo, this
non-invasive medical 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. For more information on the device, visit www.CalmareTT.com.
About Calmar Pain Relief, LLC
Calmar Pain Relief, LLC, the privately held company based in North Providence,
RI, was established to provide medical equipment, office leasing, and other
business services to medical doctors looking to offer this non-invasive pain
therapy to patients in a clinical setting. For more information about Calmar
Pain Relief, please visit www.calmarpainrelief.com.
About GEOMC Co Ltd.
GEOMC Co. Ltd. of Seoul, Korea, has current manufacturing facilities capable of
commercially producing 200 pain therapy medical devices per month and the
partners have agreed to expand production capacity to an increased production
level of 600 units per month to match increased order demand. GEOMC has
invested over $3 million for the design, tooling and manufacturing facilities
for the Calmare medical device.
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. 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.
CONTACT: IR Services, LLC
Johnnie D. Johnson
860 434 2465
jdjohnson@corpirservices.com
News Source: NASDAQ OMX
13.01.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv at
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Language: English
Company: Competitive Technologies, Inc.
United States
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ISIN: US2045121074
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