October 13, 2009 (FinancialWire) — Competitive Technologies, Inc. (NYSE AMEX: CTT) has signed a sales agreement with Calmar Pain Relief, LLC, a Delaware limited liability Company (Calmar), with its headquarters in North Providence, Rhode Island. Next month, Calmar will furnish CTT’s MC-5A pain therapy medical device to Stephen D’Amato, M.D., F.A.C.E.P., who will open his first pain therapy treatment center exclusively using CTT’s device.

Calmar will also furnish CTT’s MC-5A pain therapy medical device to other medical doctors who will open pain therapy treatment centers in selected U.S. cities. The agreement calls for Calmar to purchase a minimum of 20 of CTT’s pain therapy medical devices with an estimated retail value of approximately $1 million over the next 14 months. The agreement also allows Calmar to purchase an additional 38 devices by November 2011, with an estimated retail value of approximately $2 million.

This non-invasive technology brings CTT to the forefront in meeting the needs of patients and improving palliative healthcare globally. CTT has exclusive worldwide rights to the device, which has U.S. FDA clearance for sales in the U.S. as well as Medical Device CE certification from the E.U. Developed in Italy by CTT’s client, Prof. Giuseppe Marineo, the device has been used to treat over 3,000 patients in Europe and the US. CTT partner, GEOMC Co., Ltd. of Korea, is producing the device commercially for worldwide distribution. Distribution agreements are in place in 42 countries around the world, accounting for more than 50% of the world’s population. For more information on the device, visit www.CalmareTT.com.

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) web site (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Free annual reports for companies mentioned in the news are available through the Free Annual Reports Service (http://investrend.ar.wilink.com/?level=279).

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.