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news.US-based Competitive Technologies has signed an agreement with Able Global Healthcare, a provider of medical devices and equipment, granting it exclusive distribution rights in Malaysia for CTT's pain management medical device.
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Competitive Technologies (CTT) has exclusive worldwide rights to the device, a non-invasive method for rapid treatment of high-intensity oncologic and neuropathic pain, including pain resistant to morphine and other drugs.
CTT’s continues to review and select distributors representing the US and global markets including Europe, Asia and Latin America. CTT and the inventor will share in revenue derived from sales of the device to Able Global Healthcare (AG Healthcare).
Earlier distribution agreements granted country-exclusive rights to Excel Life Sciences, for India, to GEOMC Co, for Korea, and to Biogene Pharma for Bangladesh. CTT is working with the FDA for 510(k) approval for sales of the device in the US market. The device has Medical Device CE certification from the EU allowing European sales.
Aris Despo, CTT’s executive vice president of business development, said: “Malaysia’s population of over 25 million people represents a key market for our innovative pain management technology. The country has a strong multi-sector economy, with focused development on the medical, high-tech and pharmaceutical sectors. They are known for their high standard of health, and excellent medical treatment, providing healthcare to all their citizens through both private and public facilities.
“This agreement provides CTT with momentum as we execute our plan for establishing a distribution network for our pain therapy device in countries accepting the CE Mark.”