Nanotechnology Now

Our NanoNews Digest Sponsors

Heifer International

Wikipedia Affiliate Button


DHgate

Home > Press > Competitive Technologies' Bone Biomaterial Attracts Additional Investment for Soteira

Abstract:
Competitive Technologies, Inc. (AMEX: CTT) today announced that Soteira Inc., has completed a second fund raise for a total of approximately $18 million in Series A and B financing. Massachusetts-based Soteira, a privately-held developer of treatment systems for compressed vertebral fractures, is the exclusive licensee to manufacture, use and sell products using CTT's nanoparticle bone biomaterial compound for applications related to the human spine. The funds raised by Soteira will be used for clinical testing of the compound and Soteira's unique application device.

Competitive Technologies' Bone Biomaterial Attracts Additional Investment for Soteira

FAIRFIELD, CT | Posted on September 24th, 2008

"We are pleased with the progress Soteira is making to develop this technology for spinal repair applications," said Aris D. Despo, CTT's Executive VP, Business Development. "We strongly believe in the attributes and potential of this unique patented resorbable biocompatible bone cement and bone substitute technology for this application. Other potential applications available for license include human skeletal repair, craniofacial reconstruction, hip replacement, and bone graft substitute, as well as veterinary and dental purposes. The technology fulfills a clear-cut need in patient and animal care. The ongoing advancements being made bring us closer to a solution to fulfill that need, and to building revenue for CTT and its shareholders."

The bone biomaterial technology is a flowable, moldable paste that conforms to and interdigitates with the host bone. It rapidly hardens itself in vivo, forming a solid bone-like structure capable of stabilizing fractured bone within 15 minutes, and supports the growth of cartilage and bone cells. The technology has superior compressive strength, making it suitable for weight and non-weight bearing bones, and is both machinable and drillable.

CTT has an exclusive agreement with the University of South Carolina Research Foundation (USCRF) to license and commercialize the injectable, calcium phosphate-based nanotechnology biomaterial developed by Dr. Brian R. Genge, a research professor in the Department of Chemistry and Biochemistry at USC. Soteira is seeking FDA approval of the application device and the biomaterial based on the predicate technology of existing calcium phosphate bone cement in the "bone void filler" category. The agreement with Soteira provides an annual license fee, milestone, and royalty payments to both USCRF and CTT.

About Soteira, Inc.

Soteira, Inc. develops and markets advanced spinal products used in the treatment of degenerative diseases of the spine. The company's primary goal is to improve the safety and ultimately the number of potentially treatable patients with vertebral fractures due to osteoporosis, cancer and trauma. Soteira management brings extensive experience in product development, sales and marketing gained during their employment at Boston Scientific Corp. and Johnson & Johnson Corp.

####

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.

Statements made about our future expectations are forward-looking statements and subject to risks and uncertainties as described in our most recent Annual Report on Form 10-K for the year ended July 31, 2007, filed with the SEC on October 29, 2007, and 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.

For more information, please click here

Contacts:
IR Services, LLC
Johnnie D. Johnson
860 434 2465

Copyright © Competitive Technologies, Inc.

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

Canadian physicists discover new properties of superconductivity February 8th, 2016

Leading bugs to the death chamber: A kinder face of cholesterol February 8th, 2016

From allergens to anodes: Pollen derived battery electrodes February 8th, 2016

The iron stepping stones to better wearable tech without semiconductors February 8th, 2016

VC/Funding/Angel financing/Loans/Leases/Crowdfunding

Harris & Harris Group Portfolio Company, Magic Leap, Raises $793.5 Million in New Funding February 3rd, 2016

Israel: A Nanotech Superpower: Did you know that Israel is a hotbed for nanotechnology research and development? February 1st, 2016

Nanostart AG: Capital increase and realignment December 31st, 2015

Google Announces Results From Two Years of Testing on Quantum Computers Made by Harris & Harris Group Portfolio Company, D-Wave Systems December 9th, 2015

Nanomedicine

Leading bugs to the death chamber: A kinder face of cholesterol February 8th, 2016

UTHealth research looks at nanotechnology to help prevent preterm birth February 7th, 2016

Scientists take key step toward custom-made nanoscale chemical factories: Berkeley Lab researchers part of team that creates new function in tiny protein shell structures February 6th, 2016

Hepatitis virus-like particles as potential cancer treatment February 5th, 2016

Announcements

Canadian physicists discover new properties of superconductivity February 8th, 2016

Leading bugs to the death chamber: A kinder face of cholesterol February 8th, 2016

From allergens to anodes: Pollen derived battery electrodes February 8th, 2016

The iron stepping stones to better wearable tech without semiconductors February 8th, 2016

Patents/IP/Tech Transfer/Licensing

Joint Efforts by Iranian, Malaysian Scientists Produce Antibacterial Coatings for Isolated Areas February 4th, 2016

Silicon-based metamaterials could bring photonic circuits February 1st, 2016

Therapeutic Solutions International Licenses Dexosome Clinical Stage Cancer Immunotherapy Product From Gustave Roussy European Cancer Centre: FDA Cleared Immuno-Oncology Technology to Resume Clinical Development for Solid Tumor Patients January 27th, 2016

Light-activated nanoparticles prove effective against antibiotic-resistant 'superbugs' January 19th, 2016

NanoNews-Digest
The latest news from around the world, FREE




  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More











ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project







Car Brands
Buy website traffic