updated 10/27/2010 9:16:12 AM ET 2010-10-27T13:16:12

FAIRFIELD, Conn., Oct. 27, 2010 (GLOBE NEWSWIRE) -- Competitive Technologies, Inc. (OTCQX:CTTC) today announced that researchers at Virginia Commonwealth University Massey Cancer Center have begun accepting patients into a new Phase II clinical study to evaluate the efficacy of the innovative Calmare® Pain Therapy medical device for the treatment of cancer pain syndromes. In addition to addressing chronic chemotherapy-induced peripheral neuropathy (CIPN) pain and numbness, this trial will also test the Calmare medical device's ability to treat post mastectomy pain, post surgical pain, post herpetic neuropathy, post radiation pain and other chronic pain. The principal investigator, Thomas J. Smith, M.D., Endowed Chair of Palliative Care Research and Medical Director of the Thomas Palliative Care Unit at VCU Massey Cancer Center, previously led a study of the device for treating CIPN. The results of that earlier study, showing a 64 percent success rate, were presented at the American Society of Clinical Oncology annual meeting in June (See http://www.calmarett.com/media/pdf/ASCO%20CIPN%20poster_Jun2010.pdf).

"We are excited to start this new trial and to determine if 'Scrambler therapy' works as well for other chronic pain conditions as it did for chemo-induced pain," said Dr. Smith. "It would be fantastic to have simple, non-invasive ways to treat post-shingles pain, 'phantom limb' pain and the pain that women experience after breast cancer surgery."

"We are pleased to learn that this new study of our Calmare Pain Therapy medical device has begun at VCU Massey Cancer Center," said Aris Despo, CTTC's Executive Vice President, Business Development. "The earlier study showed the Calmare device to be a highly effective treatment for CIPN without harmful, adverse side effects. To have nationally recognized leaders in oncology and palliative care continuing to evaluate our medical device for treating other types of chronic pain in addition to cancer pain, is a testament to the success patients have already seen with the device.

"It is also a real boost to our sales force to see such a prestigious cancer center take on a larger and more far-reaching study," Mr. Despo continued. "We are already seeing greater interest in the device from physicians in private practice as well as those working with the Departments of Defense and Veterans Affairs."

About Massey Cancer Center

VCU Massey Cancer Center is one of only 66 National Cancer Institute-designated institutions that leads and shapes America's cancer research efforts. Working with all kinds of cancers, the Center conducts basic, translational and clinical cancer research, provides state-of-the-art treatments and clinical trials, and promotes cancer prevention and education. Since 1974, Massey has served as an internationally recognized center of excellence. It offers a wide range of clinical trials throughout Virginia, oftentimes the most trials in the state, and serves patients in Richmond and in four satellite locations.Its 1,000 researchers, clinicians and staff members are dedicated to improving the quality of human life by developing and delivering effective means to prevent, control and ultimately to cure cancer.

In addition, Massey's Thomas Palliative Care Unit is one of only six in the nation designated by the Robert Woods Johnson Foundation as a Palliative Care Leadership Center, through which Dr. Smith and colleagues train other professionals from across the country in how to develop and administer palliative care programs, which include pain and symptom management. For more information on Massey's palliative care program, visit www . massey . vcu . edu / palliative.

About Competitive Technologies

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. CTTC 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. Currently, CTTC's principal technology is the non-invasive Calmare pain therapy device, which uses the biophysical "Scrambler Therapy" technology, and was developed in Italy by CTTC's client, Professor Giuseppe Marineo. 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, 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.

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