Competitive Technologies anticipates $1M revenue from sales of Calmare Pain Therapy Treatment
Published on July 19, 2010 at 12:15 PM
Competitive Technologies, Inc. (NYSE Amex:CTT) today announced it expects revenue from sales of its Calmare® Pain Therapy Treatment for the fourth quarter of fiscal 2010 to be about $1 million, nearly double that of the prior quarter. The Company expects significant additional growth in Calmare medical device sales in upcoming quarters resulting from the growing U.S. sales force of over 35 sales representatives.
"Calmare pain therapy is the only highly effective treatment for chemotherapy-induced peripheral neuropathy (CIPN) without the harmful, adverse side effects of narcotic pain killers," said John B. Nano, CTT's Chairman, President and CEO. "From the growing body of evidence-based patient outcomes we know that in addition to CIPN, our Calmare device successfully treats chronic neuropathic and oncologic pain resulting from cancer, phantom limb syndrome, failed back surgery, sciatica, spinal stenosis, shingles and other maladies.
Calmare is now available to treat pain patients at Virginia Commonwealth University's Massey Cancer Center, the University of Wisconsin, Madison's Paul Carbone Cancer Center, the University of Miami's Pain Management Center, and the Mayo Clinic in Rochester, Minnesota. Additionally, patients are being treated with Calmare at hospitals and clinics in Massachusetts, New York, Virginia, Florida, Connecticut, Rhode Island, Utah, and Texas, as well as in Europe and Asia.
The non-invasive Calmare device uses the biophysical "Scrambler Therapy" technology, which was developed in Italy by CTT's client, Professor Giuseppe Marineo. CTT's partner, GEOMC Co. Ltd. of Seoul, Korea is manufacturing the Calmare device, which has U.S. FDA clearance and European Union CE Mark clearance for sales.
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