CTT's Biomaterial Technology Declare Notice of Allowance for the U.S. Divisional Patent Application
The U.S. Patent Office has issued a Notice of Allowance for the U.S. Divisional Patent Application for Competitive Technologies, Inc (AMEX: CTT) nanotechnology bone biomaterial developed at the University of South Carolina (USC). CTT has an exclusive agreement with the University of South Carolina Research Foundation to license and commercialize these injectable, calcium phosphate-based biomaterial nanotechnology. The inventor of the bone biomaterial, Dr. Brian R. Genge, is a research professor in the Department of Chemistry and Biochemistry at USC .CTT is expecting a second patent would be issued relating to biomaterial technology this summer.
"The granting of this second patent recognizes the unique qualities of Dr. Genge's innovative nanoparticle biomaterial technology," said Dr. Mike Kiley, CTT's Executive Vice President and Chief Technology Officer. "CTT executed an exclusive license in September 2005 with Soteira Inc. to research and develop spinal applications, and we believe the allowance of this new patent will add to and strengthen the patent position for this nanoparticle bone cement technology. Our business development group is aggressively pursuing additional licensing opportunities for this technology."
The technology has better compressive strength, making it suitable for weight bearing and non-weight bearing bones which can be machined and drilled. The patented nano bone cement technology has applications in various human orthopedic procedures, such as craniofacial restoration, long bone fixation, dental and spinal applications. IT can also be used for veterinary purposes.
The bone technology is a paste that can flow freely and is mouldable that conforms and binds well with the host bone. The material hardens quickly forming a solid structure within 15 minutes, that also supports the growth of cartilage and bone cells.
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