Competitive Technologies Partners with EuroDev to Develop European and Asian Markets
THURSDAY, JULY 20, 2006 7:30 AM - BusinessWire
FAIRFIELD, Conn., Jul 20, 2006 (BUSINESS WIRE) -- Competitive Technologies, Inc. (CTT) today announced that it has formed a strategic alliance with EuroDev BV to accelerate its marketing efforts in Europe and China. EuroDev, with offices in the Netherlands, France, and China, specializes in European and Asian business development and will augment CTT's business development activities to commercialize CTT's EZSpeech(TM) and Therapik(R) offerings.
EZSpeech(TM) is a software program targeting non-native English speaking business executives that helps them improve their English-speaking accent and learn business idioms common in the American business culture.
Therapik(R) is a thermal therapy device that provides temporary relief of the pain and itching resulting from insect stings and bites. It is a late-stage, ready-to-market device owned by Canada-based Jenex Corporation (CA:JEN) . The device, approved by the U.S. Food and Drug Administration, the Canadian Therapeutic Products Directorate, and the European Union's Certificate of Conformity With European Directive, is also protected by patents in the United States, Canada, Australia and Europe.
"We believe our joint venture with EuroDev will enable us to speed distribution of the EZSpeech(TM) and Therapik(R) technologies in the European and Asian marketplaces," commented Dr. Mike E. Kiley, CTT's Chief Technology Officer. "This partnership will leverage EuroDev's vast network of contacts and enable us to dramatically increase our foreign business development efforts without incurring significant costs. This success-fee based arrangement is part of our strategy to build global alliances and maximize our resources to generate additional revenue."
Scott Bell, a Partner at EuroDev added, "We are confident that the highly differentiated and patent protected advantages of CTT's offerings, together with EuroDev's extensive commercial contacts and experience, will yield positive results for both parties. We have already benefited from our commercial relationships with the acquisition and marketing of Therapik(R) through the SPER Group in Hangzhou China and ongoing in-store test market promotions in approximately 800 stores in Europe with high profile retailers."
About EuroDev
Since 1989, EuroDev has partnered with over 50 companies to develop their European and Asian activities. Together with its clients, EuroDev implements strategic and cost-effective solutions that help these clients secure a more successful position in European and Asian markets. EuroDev is based in the Netherlands with additional offices in France and China. For more information, please visit www.Eurodev.com.
About Competitive Technologies, Inc.
Competitive Technologies, established in 1968, is a full service technology transfer and licensing provider, focused on bringing the intellectual property assets of its clients to the marketplace. CTT specializes in identifying, developing and commercializing innovative technologies in a variety of areas, including life and physical sciences, electronics, and nanotechnologies. Through its global distribution platform, CTT maximizes the value of its clients' intellectual property assets. For more information, please visit: www.competitivetech.net.
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