Competitive Technologies Announces Search for Medical Director to Focus on Calmare(R) Pain Therapy Medical Device

Published on Wednesday, 11 January 2012 13:08 Written by TradersHuddle Staff

FAIRFIELD, Conn., Jan. 11, 2012 (GLOBE NEWSWIRE) -- Competitive Technologies, Inc. (OTCQX:CTTC) has initiated a search for a medical director. In late 2011, the Company embarked on a focused marketing program targeting doctors and patients who would benefit from Calmare^® Scrambler Therapy™ treatments. The program has been instrumental in increasing the number of medical practices using the Calmare device to treat patients with chronic neuropathic pain from maladies such as chemotherapy-induced peripheral neuropathy (CIPN), chronic cancer pain, failed back surgery syndrome (FBSS), sciatic and lumbar pain, phantom limb syndrome, post-herpetic neuralgia (PHN), post-surgical neuropathic pain, and brachial plexus neuropathy. Hiring a physician who has experience working with neuropathic pain as the Company's first medical director is the next step in this program. 

"At a time when a pharmacist is quoted by The New York Times as putting his life on the line due to the recent spate of deadly pharmacy robberies by gunmen seeking narcotic painkillers and when the FDA announces recalls of prescription and over-the-counter pain medications due to contamination," said Johnnie D. Johnson, CTTC's Chief Executive Officer, "We are convinced that given the choice of our non-invasive and non-addicting therapy, most patients, and indeed most doctors, would opt to give our therapy a chance before resorting to more invasive and potentially harmful treatment modalities whether that be invasive surgery or addictive painkillers. "The challenge which we have accepted with a vengeance in 2012 is to get the message of Calmare Scrambler Therapy to the masses."

In an unrelated personnel change, CTTC's Executive Vice President., Aris Despo, has resigned from the Company. 

"We will truly miss Aris and wish him well in his future endeavors," said Mr. Johnson. "Aris has long been dedicated to the success of Calmare Scrambler Therapy which we are all convinced can help the millions of people in the US and globally who suffer from chronic neuropathic pain. His commitment and enthusiasm have been instrumental to the accomplishment of several milestones the company has seen in marketing the device. By focusing on recruiting key opinion leaders, encouraging clinical trials at top research facilities, and insurance reimbursement, his work has steadily increased the interest among doctors and other medical professionals who are all looking for less invasive treatment options for their patients."

About Competitive Technologies, Inc.

Competitive Technologies is a global leader in developing and commercializing innovative products and technologies. CTTC is multifaceted, providing distribution, patent and technology transfer, sales and licensing services. CTTC's staff is focused on the needs of customers and matching those requirements with commercially viable products or technology solutions.

CTTC is the licensed worldwide distributor of the non-invasive Calmare^® pain therapy medical device, which incorporates the biophysical "Scrambler Therapy™" technology developed in Italy by CTTC's client, Professor Giuseppe Marineo to treat neuropathic pain, including cancer pain. The Calmare^® device is currently being manufactured for sale by CTTC's partner, GEOMC Co., Ltd. of Seoul, Korea. For more information on the device, visit www.calmarett.com. Visit CTTC'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, 2010, filed with the SEC on October 27, 2010, 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.  

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