FAIRFIELD, Conn. -- Competitive Technologies, Inc. has signed an agreement with the Texas A&M University System giving CTT exclusive rights to commercialize a new collagen-based wound sealant. The sealant, prepared as a thick liquid and poured or injected into the wound, where it polymerizes in situ, is suitable for human medical, veterinary, and dental practice applications. The A&M System wound sealant technology is from the research of Drs. Douglas R. Miller, Jimmy T. Keeton and Ian R. Tizard.
The A&M System technology demonstrates the feasibility of a collagen-based wound sealant which is easy to apply, takes effect in situ, supports cellular compatibility and faster healing, and imparts mechanical strength and elasticity. The materials are relatively low cost. The base material can be modified by inclusion of other matrix components, co-reactants, non-reactive materials, growth factors, antibiotics and microbeads (e.g., delayed-release biodegradable beads).
The patented technology has potential applications for soft tissue wound repair and may be used alone or in conjunction with other products. Alternative use is as a drug delivery system, which might include a slow release depot for vaccines, adjuvants or drugs, bone repair, or graft or prosthetic implant stabilization.
John B. Nano, president and CEO of CTT said, "The wound sealant is another example of CTT finding a technology that answers the needs of the customer. The multiple application possibilities and its ease of use make this invention a strong contender for an important place in a wound care market that is estimated at $10 billion worldwide. It is our strategy to turn technology solutions into commercial dollars, leveraging our unique position in the $150 billion market for technology licensing and strengthening shareholder value."
The Texas A&M University System is one of the largest and most complex systems of higher education in the nation. A statewide network of nine universities, eight state agencies and a comprehensive health science center, the A&M System educates nearly 98,000 students and reaches another four million people each year through its service mission. Research projects under way by the A&M System total more than $425 million. In the 2001-2002 fiscal year, the A&M System's Technology Licensing Office filed 160 patent applications for protection of A&M System inventions, up from 110 the previous year, and executed 51 royalty-bearing licensing agreements with corporate licensees for commercialization of A&M System inventions, resulting in nearly $7 million in income.
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, digital, nano, and physical sciences developed by universities, companies and inventors. The global market for technology transfer services is estimated at $150 billion annually. CTT maximizes the value of intellectual assets for the benefit of its customers, clients and shareholders.
Source: Competitive Technologies, Inc.