Competitive Technologies and Beckman Coulter Sign License Agreement for Homocysteine Assay.FAIRFIELD, Conn. & FULLERTON, Calif. -- Competitive Technologies, Inc. (AMEX AMEX See: American Stock Exchange : CTT CTT Correios (Portuguese Postal Service) CTT Certified Technical Trainer CTT Charity Technology Trust CTT Cholesterol Treatment Trialists' (collaboration) CTT Common Task Training ) announced today that a homocysteine Homocysteine Definition Homocysteine is a naturally occurring amino acid found in blood plasma. High levels of homocysteine in the blood are believed to increase the chance of heart disease, stroke, Alzheimer's disease, and osteoporosis. assay license has been granted to Beckman Coulter under CTT's US Patent Number 4,940,658 and its foreign counterparts relating to homocysteine medical tests. Elevated levels of homocysteine resulting from Vitamin B vitamin B n. 1. Vitamin B complex. 2. A member of the vitamin B complex, especially thiamine. vitamin B, vitamin B complex a group of water-soluble substances described separately. 12 and folate deficiency folate deficiency Folic acid deficiency Hematology A condition caused by a decrease in dietary folic acid, resulting in megaloblastic anermia, GI tract complaints–eg, glossitis, stomatitis, malabsorption, infertility, neural tube defects, and possibly also may be a risk factor in heart attacks, strokes, blood clots Blood Clots Definition A blood clot is a thickened mass in the blood formed by tiny substances called platelets. Clots form to stop bleeding, such as at the site of cut. , various pregnancy complications, dementia from Alzheimer's, rheumatoid arthritis rheumatoid arthritis Chronic, progressive autoimmune disease causing connective-tissue inflammation, mostly in synovial joints. It can occur at any age, is more common in women, and has an unpredictable course. , osteoporosis and presbyopia Presbyopia Definition The term presbyopia means "old eye" and is a vision condition involving the loss of the eye's ability to focus on close objects. . The homocysteine patent is derived from discoveries made by CTT's clients, Drs. Robert Allen and Sally Stabler from the University of Colorado University of Colorado may refer to:
"We are very pleased to issue this license to Beckman Coulter, a leader in the field of biomedical testing," said Aris D. Despo, CTT's VP Life Science Business Development. "CTT's active homocysteine assay licensing program has been very successful. The homocysteine assay patent is a very important part of CTT's portfolio of innovative technologies. We estimate that the number of homocysteine assays performed in the US is increasing each year, generating recurring revenues in our fiscal years 2005, 2006 and 2007." CTT has signed new license agreements with and is collecting royalties from companies performing most of the homocysteine assays in the marketplace. In addition to Beckman Coulter, these companies include Bayer, Abbott, Roche, Quest, Axis-Shield and Diagnostics Products. CTT has an active program of collecting royalties from all organizations involved in the homocysteine assay process. Under the agreement, Beckman Coulter will pay an initial license fee and royalties on sales of homocysteine assay products. Beckman Coulter's homocysteine assay customers, other than those with unsettled litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. matters, will be covered by the Beckman Coulter license from CTT. Beckman Coulter customers that have separate homocysteine licenses from CTT will be relieved of their obligation to pay royalties on reportable homocysteine results obtained using the Beckman Coulter assay by virtue of the royalty paid by Beckman Coulter to CTT. The license does not relieve Beckman Coulter customers for royalties on past or future assays for methylmalonic acid methylmalonic acid /meth·yl·ma·lon·ic ac·id/ (-mah-lon´ik) a carboxylic acid intermediate in fatty acid metabolism. methylmalonic acid a normal ruminant metabolite detoxified in animals receiving a diet adequate in cobalt. , for which CTT requires a separate license to perform such assays. About Competitive Technologies, Inc. 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 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. When used herein, the words "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 market acceptance of and competition for our licensed technologies, growth strategies, operating performance, industry trends, and other risks inherent in our business, including those set forth in Item 7 under the caption "Risk Factors," in our most recent Annual Report on Form 10-K filed with the SEC on October 29, 2004, 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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