FAIRFIELD, Conn., Dec. 18, 2001 (PRIMEZONE) -- Competitive Technologies, Inc. (AMEX:CTT) announced today that it has granted the right to develop, manufacture and sell products with innovative electro-graphic display technology to Avery Dennison Corporation. CTT will earn royalties on the product sales. Avery Dennison is expected to begin producing new technology driven display products early next year. The technology underlying the products is from Pharmacia Corporation, CTT's client.
The technology brings animation to two-dimensional graphics and other formerly cost-prohibitive applications. With this technology, promotional product manufacturers will be able to imprint and decorate with graphics that move or flash on and off without using LEDs or more costly liquid crystal displays.
"We are quite pleased to see the deployment of this innovative technology," said Wil Jacques, CTT Vice President responsible for commercializing the display technology. "Our aim is to bring commercially viable and enabling new technologies to the marketplace. The new displays are a prime example of utilizing low-cost innovative technology to breathe new life into an established industry," said Jacques.
This new technology will be of great interest to the advertising specialties industry where promotional products can utilize movement and animation such as in retail point-of-purchase displays and consumer product packaging. Also, the displays are thin, flexible, unbreakable and require only a small battery to drive the change in color.
About Competitive Technologies, Inc.
Competitive Technologies is a global leader in identifying, developing and commercializing innovative life sciences, physical sciences and digital technologies. Competitive Technologies' specialized expertise and experience make it a valuable partner for inventors, companies and universities of all sizes. CTT has been responsible for closing hundreds of licensing agreements. Other CTT clients and licensees include: Sony, Matsushita Electric Industrial, the University of Arizona, the University of Colorado, the University of Illinois, Digital Ink, Inc., NTRU Cryptosystems, Inc., Palatin Technologies, Inc. and Ribozyme Pharmaceuticals, Inc. Competitive Technologies, Inc. is based in Fairfield, Connecticut and has affiliates in Osaka, Japan and London, England.
Statements about the Company's future expectations, including development and regulatory plans, and all other statements in this document other than historical facts are "forward-looking statements" within the meaning of applicable Federal Securities Laws and are not guarantees of future performance. These statements involve risks and uncertainties related to market acceptance of and competition for the Company's licensed technologies and other risks and uncertainties inherent in CTT's business, including those set forth in Item 1 of the Company's most recent Form 10-K and other factors that may be described in CTT's filings with the SEC, and are subject to change at any time. The Company's actual results could differ materially from these forward-looking statements. The Company undertakes no obligation to update publicly any forward-looking statement.