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News and Events > Abbot Labs Licenses Homocysteine Assay Based on Two University of Colorado Inventors, Drs. Robert Allen and Sally Stabler and the Late Dr. John Lindenbaum from Columbia University

Abbot Labs Licenses Homocysteine Assay Based on Two University of Colorado Inventors, Drs. Robert Allen and Sally Stabler and the Late Dr. John Lindenbaum from Columbia University

December 16, 2004

Fairfield, CT and Abbott Park, IL (December 16, 2004) - Competitive Technologies, Inc. (AMEX: CTT) and Abbott (NYSE: ABT) announced today that a homocysteine patent license has been granted to Abbott under CTT's U.S. Patent Number 4,940,658 and its foreign counterparts relating to homocysteine medical tests. The 1986 patent filing, managed by the university, is derived from discoveries made by Drs. Robert Allen and Sally Stabler from the University of Colorado and the late Dr. John Lindenbaum from Columbia University.

Under terms of the agreement, Abbott is granted a license to the CTT technology and will pay royalties on sales of Abbott homocysteine assays. Abbott's homocysteine assay customers will be covered by the Abbott license from CTT. Abbott customers such as hospital and commercial laboratories that have separate homocysteine licenses from CTT will be relieved of their obligation to pay royalties on reportable homocysteine results obtained using the Abbott assay by virtue of the royalty paid by Abbott to CTT.

The agreement between CTT and Abbott includes a release to Abbott's customers of any obligation to pay royalties to CTT for homocysteine test results obtained using Abbott assays in the past. CTT has agreed not to pursue royalties from any current or future Abbott customer with respect to past homocysteine assay tests purchased from other diagnostic companies. CTT is pursuing such royalties directly from the supplier diagnostic companies and reserves its rights against these supplier diagnostics companies.

The license does not relieve Abbott customers for royalties on past or future assays for methylmalonic acid. Customers should contact CTT for a license to perform such assays.