Competitive Technologies to Commercialize Technology for Ultra Low Power Pulse Oximeter
Fairfield, CT (December 19, 2006) – Competitive Technologies, Inc. (AMEX: CTT) today announced that it has signed an exclusive, worldwide service and representation agreement with Professor Rahul Sarpeshkar of the Massachusetts Institute of Technology to commercialize an innovative, ultra-low power Pulse Oximeter within the medical device marketplace. Dr. Sarpeshkar is the Robert J. Shillman Professor of Electrical Engineering and Computer Science in the Research Laboratory of Electronics at MIT, Cambridge, Massachusetts.
Pulse Oximeters have been used in clinical settings for more than twenty years to non-invasively measure the amount of oxygen in a patient's blood. The technology is based upon the measurement of the ratio of light absorption of red and infrared light as transmitted through the thin part of a patient's anatomy (e.g. fingertip). Oximeters have recently become more widely accepted as the "fifth vital sign" because of technology improvements that seek to overcome certain performance issues caused by motion and low pulse strength.
There is a widespread move toward the expanded use of Oximeters in wireless, remote monitoring of patients' vital signs. The ultra low power oximeter technology supports this use by reducing power requirements by an order of magnitude below the level required in current devices, thereby extending battery life and improving reliability for remote monitoring. The technology features a novel photoreceptor with an advanced ultra low power and compact circuit design. CTT expects that the photoreceptor and circuitry can be retrofitted into existing original equipment manufacturer (OEM) devices.
"This low power photoreceptor technology is a strong addition to our life science and medical device offerings," commented D.J. Freed, Ph.D., President and Chief Executive Officer of Competitive Technologies. "As we continue our efforts to aggressively expand our portfolio of available technologies, we are pleased to add a technology that could greatly expand the utility of an important medical device like the Pulse Oximeter. We expect to leverage our extensive network of contacts to bring this technology to market."
About Competitive Technologies
Competitive Technologies, established in 1968, is a full service technology transfer and licensing provider, focused on bringing the intellectual property assets of its clients to the marketplace. CTT specializes in identifying, developing and commercializing innovative technologies in a variety of areas, including life and physical sciences, electronics, and nanotechnologies. Through its global distribution platform, CTT maximizes the value of its clients' intellectual property assets. For more information, please visit: www.competitivetech.net.
Statements about our future expectations, including development and regulatory plans, and all other statements in this press release, other than historical facts, are "forward-looking statements" within the meaning of applicable Federal Securities Laws, and are not guarantees of future performance. If and when used herein, the words "may," "will," "should," "anticipate," "believe," "intend," "plan," "expect," "estimate," "approximate," and similar expressions, as they relate to us or our business or management, are intended to identify such forward-looking statements. These statements involve risks and uncertainties related to our ability to obtain rights to market technologies, market acceptance of and competition for our licensed technologies, growth strategies and strategic plans, operating performance and financing of our operations, industry trends, and other risks and uncertainties inherent in our business, including those set forth in Item 1A under the caption "Risk Factors," in our most recent Annual Report on Form 10-K for the year ended July 31, 2006, filed with the Securities and Exchange Commission ("SEC") on October 30, 2006, and other factors that may be described in our 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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