University of Connecticut Health Center and Competitive Technologies Announce NIH Grant for Asthma Study
Fairfield, CT - (May 19, 2008) - Competitive Technologies, Inc. (AMEX: CTT) announced today that Dr. Eric Secor Jr., assistant professor from the Department of Immunology at the University's School of Medicine in Farmington, has been awarded a multiyear $750,000 K-08 Career Development Award from the National Institutes of Health (NIH) and the National Center of Complementary and Alternative Medicine (NCCAM). Dr. Secor's grant is a continuing study of anti-inflammatory and immunomodulatory effects of bromelain, a natural botanical product, in asthma. This work has originated in association with Dr. Roger Thrall, a prominent asthma researcher and recipient of several NIH grants including his current $1.8 million grant to investigate the mechanisms of allergic asthma. CTT has been providing basic funding for Dr. Secor's research to support his proposal to the NIH.
"The University is extremely pleased with receipt of this NIH grant," said Michael J. Hogan, President of the University of Connecticut. "As the state's premier public research university, we sponsor cutting-edge research that generates innovation, academic advancement, economic growth, and improves the lives of our citizens for generations to come. Dr. Secor's grant represents an ideal cooperation between the University, business and government."
CTT is working with Dr. Secor to develop diagnostic tests for asthma and to determine the applicability of bromelain as a treatment. Dr. Secor's NIH grant states that botanicals with unknown mechanisms of action are widely used for treatment and management of acute and chronic conditions such as allergy and asthma. His study of the effect of botanicals and their extracts on the immune system will help clarify the anti-inflammatory mechanism(s) of action of bromelain. Highlighting the global scope of this field, Dr. Secor gave a presentation on his research at the European Traditional Medicine International Congress held in Vinci, Italy, in October 2007, and he will present this month in Toronto, Ontario.
Dr. Secor stated, "Our laboratory work has demonstrated that bromelain affects inflammatory CD4+ T cells which are vital in immune responses in conditions such as allergy and asthma. These continued studies are crucial to understanding the mechanisms, which are responsible for the anti-allergy effects of botanicals such as bromelain. We look forward to our NIH funded work undergoing the peer review process and being published in the appropriate scientific journals."
"The K-08 Award is extremely prestigious grant and supports our confidence in the importance of the research being conducted by Drs. Secor and Thrall," said Ted Kutrumbos, Business Development Consultant for CTT. "It is another example of our being at the forefront of the paradigm shift to treat individuals with integrative medicine, which combines cutting edge science with traditional medicine."
Asthma, a chronic disease that affects breathing, cannot be cured but can usually be controlled. According to the NIH, asthma affects an estimated 22 million people in the U.S., including about six million children. About half of those affected suffer from allergic asthma.
"We look forward to continuing our work with Dr. Secor," said John B. Nano, CTT's Chairman, President and CEO. "CTT's management team is focused on creating value from technologies, restoring stockholder value by signing new license agreements. We are aggressively marketing the pain management therapy, breast cancer detection test, MC Square stress reduction device (www.relaxmc.com), and solar panel technologies to drive revenue growth, improve profitability and create shareholder value. Our full technology portfolio may be viewed on our website."
About the University of Connecticut Health Center
The University of Connecticut Health Center includes the schools of medicine and dental medicine, the UConn Medical Group, University Dentists, and John Dempsey Hospital. Founded in 1961, the Health Center pursues a mission of providing outstanding health care education in an environment of exemplary patient care, research and public service. To learn more about the UConn Health Center, visit our website at www.uchc.edu.
About Competitive Technologies
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 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, 2007, filed with the SEC on October 29, 2007, 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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