Competitive Technologies Announces Sales Order ELS Pain Management Devices
Competitive Technologies Announces Sales Order ELS devices Pain Management
Fairfield, CT – (January 12, 2009) – Competitive Technologies, Inc. (NYSE Alternext U.S.: CTT) announced today it has received an order for sale of Excel Life Sciences, Inc. (ELS) for devices in pain management therapy. The device is a noninvasive method for the treatment Fast high-intensity oncologic and neuropathic pain, including pain resistant to morphine and other drugs. ELS, Country of CTT-exclusive distributor in Spain, recognizing the benefits of the innovative, was the first health care provider announced to sign a distribution agreement for the device. Distribution agreements Subsequent country granted exclusive distribution rights to GEOMC Co., Ltd. of Korea, Malaysia Health AG, and Biogene Pharma Limited for Bangladesh.
The ELS order has a retail value of approximately $ 1 million. Sending ELS devices is scheduled to begin immediately.
ELS is headquartered in U.S., India-focused provider of clinical research and health services. They have a special focus on improving patient care in markets they operate. ELS has a fully-owned Indian subsidiary with its principal office in New Delhi, and 21 operating locations serving a network of more than 700 hospitals across India.
CTT's device has Medical Device CE certification from the European Union to allow the sale of the product throughout Europe and several other countries, including including India. Approval of the CTT pending FDA 510 (k) application of medical devices are permitted in U.S. sales the device. The review and selection process of distributors in Europe, Asia, U.S. and Latin America continues. CTT has exclusive rights worldwide to this patented device.
Dr. Vijai Kumar, ELS President and Chief Medical Officer, said, "We have seen this device in action and have witnessed their ability to relieve pain. ELS is initiating studies formal clinical use this new pain control device at four leading health care facilities in India in the month. The protocol for these studies of U.S. follow the FDA guidelines and treatment of a total of 160 patients divided into four specific neuropathies. We expect this new device to initiate a change of paradigm in the perception and pain treatment in India. There are more than four million people nationwide who suffer from severe cancer, neuropathic pain and other forms disabling chronic pain.
Mohit Mehrotra, ELS Founder and Chief Operating Officer, commented: "We are proud to work with CTT to this progressive medical technology to India. We are focusing considerable resources on this technology and our relationship with CTT. We will launch the device in the Indian Institute of Medical Sciences (AIIMS) International Conference of the Indian Association of Palliative Care in February, where we hope to generate a high level of activity and interest among the participants. ELS is one of the sponsors of the conference in New Delhi-based, the largest of its kind. Our extensive knowledge about healthcare in India, along with an extensive network of research hospitals and clinics, helps us understand the needs and expectations of patients and providers medical care. We believe this device will revolutionize pain management for both constituents. "
"ELS is a key element in our strategy for building a distribution base in mainland India through Southeast Asia, "said Aris D. Despo, CTT's Executive VP, Development Business. "They are an effective and strategic partner for CTT in the important Indian market. 1.75 billion U.S. dollars in India's medical device market, with the support of its growing middle and upper classes of over 150 million people, represents a significant opportunity for sales of our innovative treatment technology pain. "
"We believe that income and the benefits of pain management technology dramatically higher than those produced by any other technology in our history of 40 years and reach approximately $ 200 million per year distributor sales to hospitals and clinics as the device reaches levels of market maturity, "said John B. Nano, CTT Chairman, President and CEO." We hope that the financial results generated by such a medical device have the potential to significantly increase the market capitalization of CTT. This medical device is an excellent example of our strategy to connect clinical science for patient care, improved health for humanity. "
Developed in Italy by CTT's client, Prof. Giuseppe Marineo, the technology CTT was carried through the efforts of Prof. Giancarlo Elia Valori of the Italian group business development, Sviluppo Lazio SpA, and assistance from the investment community Zangani ™. The technology, with a biophysical rather than a biochemical approach, uses a multi-processor able to simultaneously treat multiple pain areas by the application of surface electrodes on the skin. CTT partner, GEOMC Co., Ltd. of Korea, is manufacturing the device commercially for worldwide distribution. For more information about the device, www.CalmareTT.com visit.
The device has been used in over 3,000 patients in Europe even at the Center Pain Management at Tor Vergata University Medical Center in Rome (http://www.ptvonline.it/uo_ter_ant_ing.asp)., and the San Raffaele Biomedical Park Foundation of Rome (www.scienceparkrome.eu).
About Excel Life Sciences, Inc.
ELS is a seat in the U.S., India-focused provider of clinical research and comprehensive health services, to help advance science and improve patient care. ELS is a Delaware corporation, privately owned operation with 21 locations across India and a network of approximately 1,000 physicians serving over 700 hospitals. ELS has U.S. offices in Boston, Chicago, and Durham, NC Its success is built around passionate and experienced individuals working with clients to accelerate research clinic and provide new drugs and medical devices markets while maintaining the highest standards of quality. ELS is committed to improve and expand Clinical research company in India. Visit the ELS website: Home Company "> www.ExcelLifeSciences.com
About Technology competition
Competitive Technologies, established in 1968, is a full service technology transfer and licensing provider focused on the technology needs of its customers and transforming those requirements into commercially viable solutions. CTT is a global leader in identifying, developing and commercializing innovative technologies in life, electronic, nano, and physical sciences developed by universities, companies and inventors. CTT maximizes the value of intellectual property assets for the benefit of its clients, customers and shareholders. Visit CTT's website: title = "Competitive Web Technologies "> www.competitivetech.net
Statements made about our future expectations are forward looking and subject to risks and uncertainties as described in our most recent Annual Report on Form 10-K for the year ended 31 July 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.
About the Author
Dan McDonald is Vice President of Business Strategy at Excel Life Sciences. With over 12 years of industry experience working with biopharmaceutical companies to assist them with their global clinical research strategies, patient recruitment and site selection and helping sites connect with sponsors. Prior to joining ELS Dan served as Sr. Vice President of Strategic Development for D. Anderson & Company a leading provider of global patient recruitment and retention services. The majority of Dan’s career in the industry was spent at Thomson CenterWatch, where he worked for nearly 9 years, and the last 3 as the General Manager* of that business. Dan also had organizational responsibility for Thomson NEIRB an independent institutional review board. Dan oversaw strategic planning and all day-to-day operations of the CenterWatch business for Thomson Healthcare and also was in charge of Sales and Marketing for Thomson Clinical Trials Solutions. He also oversaw the development and publication of several articles and strategic planning reports focused on the rapid growth of clinical research in emerging markets, primarily India, Central & Eastern Europe and China.
Mr. McDonald has conducted over 50 presentations at industry conferences and meetings, and he has conducted workshops and sessions on patient recruitment, emerging markets, clinical research in India and more.
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