FAIRFIELD, Conn., Aug. 24, 2009 (GLOBE NEWSWIRE) -- Competitive Technologies, Inc. (NYSE Amex:CTT) announced today that it has added the prestigious University of Miami Pain Management Center to the list of organizations to use its pain therapy medical device. The University will utilize the device to treat patients at the University of Miami Pain Management Center that is under the direction of Dr. Salahadin Abdi, MD, PhD, Professor and Chief, University of Miami Pain Management Center, and Dr. David A. Lubarsky, MD, Professor and Chairman of the Department of Anesthesiology, Perioperative Medicine and Pain Management at the University of Miami School of Medicine.
"This non-invasive pain therapy medical device treats pain without the harmful side effects of narcotic painkillers," said John B. Nano, CTT's Chairman, President and CEO. "Cleared for use by the U.S. Food and Drug Administration (FDA) and the European Union, the device provides rapid treatment of high-intensity oncologic and neuropathic pain, including pain resistant to morphine and other drugs.
"This device 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 globally. It is a prime example of our strategy to connect clinical science to patient care. This medical device has successfully treated over 3,000 patients in Europe and dozens of patients in the U.S. at hospitals and pain therapy centers. CTT's pain therapy medical device is currently being used by clinical investigators at the Virginia Commonwealth University Massey Cancer Center for independent clinical research to examine the device's ability to decrease pain associated with chemotherapy-induced peripheral neuropathy (CIPN). Principal investigator Thomas J. Smith, MD, is an international leader in palliative care and pain management, and Patrick Coyne, APRN, MSN, is co-investigator. The device has been used to successfully treat over 20 wounded warriors at the Walter Reed Army Medical Center. The treatments were for pain from loss of limb, back injuries, and other neuropathies."
"Several studies report that nearly 10% of adults in the U.S. suffer from moderate-to-severe pain, with over 50% experiencing chronic or recurrent pain," said Aris D. Despo, CTT's Executive VP, Business Development. "The U.S. market for prescription pain drugs, the prevailing treatment for pain management, is nearly $5.0 billion, with nearly half for treatment of cancer pain, and about 40% for orthopedic pain, including lower back pain. Our device also treats neuropathic pain, the result of nerve damage, which is difficult to treat with traditional pain medications."
For more information on the device, visit www.CalmareTT.com.
About the University of Miami Pain Management Center
The UM Pain Management Center is the leading multidisciplinary pain management facility in the southeastern U.S. State-of-the-art pain relief treatment and education are offered to patients from all over the world. Cutting edge research is conducted to seek new treatment for refractory pain conditions.
The Center, with three clinics in the South Florida area, is dedicated to excellent patient care, teaching and research to discover new ways to relieve pain. For more information visit: http://umdas.med.miami.edu/x33.xml
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.