Competitive Technologies

Competitive Technologies

August 22, 2005 07:45 ET

American Type Culture Collection and Competitive Technologies Partner to Provide Novel Escrow Services for Licensed Biological Materials

MANASSAS, Va., and FAIRFIELD, Conn.--(CCNMatthews - Aug 22, 2005) -

American Type Culture Collection (ATCC®) and Competitive Technologies, Inc. (AMEX: CTT) announced today the launch of a new escrow service for biological materials that are the subject of license agreements. This relationship will combine ATCC's expertise in managing the storage and distribution of biological materials with CTT's technology commercialization expertise.

The escrow service is designed to assist technology companies and universities in protecting valuable biological materials, as well as associated information. The escrow service will assure organizations engaged in licensing activities that their biological materials will remain secure and available to the parties as necessary during the term of a license agreement.

Protecting the security of biological materials and associated data is critical to ensuring continued advances in research and development and applying new technologies in biomedicine and industry.

"ATCC is delighted to partner with CTT in providing this important service. License agreements involving biological materials require a mechanism for assuring the security and continued availability of these materials during the effective term of the agreement," said Dr. Jesus Soriano, ATCC's VP Licensing, Contracts and Compliance. "CTT's expertise in commercializing intellectual property assures that the escrow service fully supports all elements of a licensing agreement. The new escrow service offers established and start-up technology companies a complete technology management service for biological materials."

"ATCC's extensive experience in cryopreservation and storage of biological materials provides the necessary assurance that deposits of these materials for escrow purposes are maintained under the highest standards of security, safety and confidentiality," according to Aris Despo, CTT's Senior VP for Life Sciences. "We are excited to bring this new escrow service to CTT's expanding relationships with industry and universities. Our alliance with ATCC is part of our technology commercialization strategy to deliver value-added services to generate recurring revenue and increase shareholder value."

About American Type Culture Collection

Founded in 1925, ATCC is the world's premier biological resource center. Its mission is to acquire, authenticate, preserve, produce, develop and share biological materials for the advancement of scientific knowledge. ATCC provides these core services in government, industry, education, health care and research laboratories around the world. Visit ATCC's website:

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:

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. If and 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 Securities and Exchange Commission ("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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