CTTC, Spero enter sales agreement for Calmare medical devices

Oct 6 2010

Competitive Technologies, Inc. (OTCQX:CTTC) announced today that it has entered into a sales agreement with Spero Pain Relief Therapy, LLC ("Spero"). Spero, based in St. George, UT, opened its first of 14 planned pain clinics using CTTC's Calmare^® Pain Therapy medical device last month. The 13 additional clinics will open over the next two years and will treat those suffering from chronic pain in Utah, Nevada and southern California. Spero has committed to purchase a minimum of 114 Calmare medical devices for the 14 clinics and the devices purchased will produce approximately $3 million in net revenue for CTTC over the two-year period.

"As a physician, it has been very rewarding to observe the extraordinary results from treating a number of my patients suffering from chronic pain with the Calmare Pain Therapy medical device,'' said Dr. Robert Chalmers, Spero's Medical Director. "I am very excited to be offering this non-narcotic treatment to long-suffering patients."

"We are thrilled that Spero has committed to opening these clinics in the Western U.S.," said Johnnie D. Johnson, CTTC's CEO. "Their plan to open additional clinics is a validation of the success Dr. Chalmers has already seen from treating patients with our Calmare device.

"We are convinced that, in addition to successfully treating patients suffering from chemotherapy-induced peripheral neuropathy (CIPN), our Calmare device successfully treats chronic neuropathic pain resulting from cancer, cancer chemotherapy, phantom limb syndrome, failed back surgery, sciatica, spinal stenosis, shingles and other maladies, said Aris Despo, CTTC's Executive Vice President, Business Development. "And it does so non-invasively, without the use of harmful narcotic pain relievers."