Nanotechnology Now

Our NanoNews Digest Sponsors

Heifer International

Wikipedia Affiliate Button

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

Northwestern researchers achieve unprecedented control of polymer grids: Materials could find applications in water purification, solar energy storage, body armor June 22nd, 2018

Nanobiotix Publishes Positive Phase 2/3 Data For Nanomedicine in Soft Tissue Cancer (Webcast June 22) June 22nd, 2018

Alzheimer's breakthrough: Brain metals that may drive disease progression revealed: In brains affected by Alzheimer's, researchers identify chemically reduced iron species, with mineral forms including a magnetic iron oxide June 22nd, 2018

Collaboration yields discovery of 12-sided silica cages June 20th, 2018

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

180 Degree Capital Corp. to Provide Live Remote Access to Its Annual Meeting of Shareholders on June 12, 2018 June 12th, 2018

180 Degree Capital Corp. Reports Net Asset Value per Share of $2.60 as of December 31, 2017; A Decrease of 3.0% From Prior Quarter and an Increase of 11.1% From December 31, 2016 February 27th, 2018

Nanowire LED Innovator Aledia Announces €30 ($36M) Million Series-C Financing: Intel Capital Joins Existing Investors to Commercialize Certain Nanowire-LED Technologies for Mobile Displays January 29th, 2018

180 Degree Capital Corp. Leads Investment in TheStreet, Inc.; Investment Enables Removal of Capital Structure Overhang November 14th, 2017

Nanomedicine

Nanobiotix Publishes Positive Phase 2/3 Data For Nanomedicine in Soft Tissue Cancer (Webcast June 22) June 22nd, 2018

Alzheimer's breakthrough: Brain metals that may drive disease progression revealed: In brains affected by Alzheimer's, researchers identify chemically reduced iron species, with mineral forms including a magnetic iron oxide June 22nd, 2018

Collaboration yields discovery of 12-sided silica cages June 20th, 2018

JPK talks with Dr Frank Lafont, Director of the BioImaging Center Lille (BICeL) about the use of the NanoWizard® AFM together with fluorescence microscopy in the study of living cells June 19th, 2018

Announcements

Northwestern researchers achieve unprecedented control of polymer grids: Materials could find applications in water purification, solar energy storage, body armor June 22nd, 2018

Nanobiotix Publishes Positive Phase 2/3 Data For Nanomedicine in Soft Tissue Cancer (Webcast June 22) June 22nd, 2018

Alzheimer's breakthrough: Brain metals that may drive disease progression revealed: In brains affected by Alzheimer's, researchers identify chemically reduced iron species, with mineral forms including a magnetic iron oxide June 22nd, 2018

Collaboration yields discovery of 12-sided silica cages June 20th, 2018

Patents/IP/Tech Transfer/Licensing

Tunable diamond string may hold key to quantum memory: A process similar to guitar tuning improves storage time of quantum memory May 24th, 2018

Self-assembling 3D battery would charge in seconds May 22nd, 2018

Leti Silicon Photonics Design Kit Available in Synopsis OptoDesigner Suite: Kit Contains Design Rules and Building Blocks for Multi-Project Wafers And Custom Runs on Leti’s Si310 Platform April 5th, 2018

NTU scientists create customizable, fabric-like power source for wearable electronics January 30th, 2018

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



  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More











ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project