CTT has new patent for nanoparticle bone biomaterial

May 12, 2009: Competitive Technologies, Inc. (NYSE: CTT) has announced that its bone nanoparticle biomaterial technology has been issued a third patent supporting the first two patents and providing additional claims regarding the preparation of the primary components of the bone cement.

CTT has an exclusive agreement with the University of South Carolina Research Foundation (USCRF) to license and commercialize the injectable, flowable, fast-curing, calcium phosphate-based nanotechnology biomaterial developed by Brian R. Genge, a research professor in the Department of Chemistry and Biochemistry at USC.

CTT’s licensee for human spinal applications of the bone biomaterial, Soteira Inc., completed a third fund raise providing Soteira a total of approximately $24 million and access to an additional $6 million. Soteira is using the funds on their program to gain U.S. FDA and European CE Mark clearance for sales of the bone biomaterial. CTT has the opportunity to offer licenses to the bone biomaterial for other skeletal applications, as well as dental and veterinary repairs.

CTT also announced the development of a financing unit, Competitive Technologies Financial Services (CFS), which offers customers opportunities for leasing of CTT’s pain therapy medical device in the U.S. market.

“This blockbuster medical device treats pain without the harmful side effects of most drugs, including morphine,” said John B. Nano, CTT’s Chairman, President and CEO. “This technology brings CTT to the forefront in providing a solution to the needs of patients and the improvement of palliative healthcare in the U.S. and internationally. It is a prime example of our strategy to connect clinical science to patient care. We believe that revenue and profits from the pain therapy technology will significantly increase CTT’s market capitalization.

“The establishment of CFS allows our U.S. hospitals, clinics and medical practices to purchase the device directly, or to lease it over periods of time ranging from 24 — 60 months. In this difficult economic climate, CFS, created through an agreement with Americorp Financial, LLC (AFS), allows greater flexibility for these customers in managing their organization’s cash flow. Upon execution of each lease, CTT will receive the full sales price of the device, while AFS carries the lease.”


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