MONMOUTH JUNCTION, N.J., March 26, 2013 (GLOBE NEWSWIRE) -- CytoSorbents Corporation (OTCBB:CTSO), a critical care focused company using blood purification to treat life-threatening illnesses, provides an update on its recent exhibition at the 33rd International Symposium on Intensive Care and Emergency Medicine (ISICEM) in Brussels, Belgium last week. This year, approximately 6,000 participants from all over the world attended for an up-to-date review of the most recent, clinically relevant, developments in research, therapy, and management of the critically ill.
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At its newly re-designed booth (see picture inset), CytoSorbents featured its flagship product, CytoSorb®, the only specifically approved cytokine blood filter in the European Union. The goal of CytoSorb® is to prevent or treat organ failure - the cause of nearly half of all deaths in the ICU - by controlling "cytokine storm" and reducing deadly inflammation. CytoSorb® has now been used in many different critical care applications, and is generating revenue through direct sales in primarily Germany and Austria, where reimbursement exists. It is also approved for sale throughout all 27 European Union countries, and can be sold, with proper registration, in many other countries outside the E.U.
Dr. Phillip Chan, Chief Executive Officer of CytoSorbents, stated, "This ISICEM symposium was one of our most productive conferences we have had to date and we were pleased with the new and ongoing interest in CytoSorb®. Our mindshare amongst clinicians has clearly increased since last year's conference and our booth traffic was very steady, with potential new customers and existing key opinion leaders who are collaborating with us on additional clinical studies. During our time in Brussels, we advanced our discussions with distributors from many major countries as well as potential strategic corporate partners. This is consistent with our strategy to aggressively expand commercialization of CytoSorb® in order to drive future significant revenue growth through both direct and partner sales."
Dr. Chan continued, "At the meeting, our collaborator Dr. John Kellum from University of Pittsburgh Medical Center, spoke to an audience of more than 300 people on 'Reversing sepsis-induced immune suppression' based on findings from his recently published article in the scientific journal, Molecular Medicine,* using our CytoSorb® technology. Dr. Kellum highlighted how a reduction of "cytokine storm" using CytoSorb® in rat models of sepsis can allow the immune system to target the true area of infection more efficiently, while reducing unintentional injury by immune cells to otherwise healthy vital organs like the lungs, liver and kidneys. We believe this is one of the key mechanisms of action by which CytoSorb® may prevent or treat organ failure in humans."
"Additionally, Dr. Dirk Schädler, from the Kiel University presented his poster, entitled, "A multicenter randomized controlled study of an extracorporeal cytokine hemoadsorption device in septic patients." This poster can be found on our investor website at: http://www.cytosorbents.com/invest.htm. Interestingly, an entire session was also devoted to the deadly risks of blood transfusion in critically-ill patients, highlighting the value of our HemoDefend blood purification technology that aims to reduce adverse events related to administering blood."
Dr. Chan concluded, "If one looks at the range of research topics covered at ISICEM, one thing is very clear. CytoSorb® is targeting some of the most important unmet medical needs in the ICU. The continued lack of effective therapies for critically-ill patients is remarkable, particularly in the area of controlling inflammation and treating organ failure, making the opportunity for CytoSorb® that much more compelling. If it works as intended, CytoSorb® has the real potential to revolutionize critical care therapy."
*Namas, RA, et al., "Hemoadsorption reprograms inflammation in experimental gram-negative septic peritonitis: Insights from in vivo and in silico studies" Molecular Medicine, 2012, vol. 18, p. 1366-1374.
CytoSorbents Corporation is a critical care focused therapeutic device company using blood purification to modulate the immune system and fight multi-organ failure in life-threatening illnesses. Its purification technology is based on biocompatible, highly porous polymer beads that can actively remove toxic substances from blood and other bodily fluids by pore capture and adsorption. CytoSorb®, the Company's flagship product, is approved in the European Union as a safe and effective cytokine filter, designed to reduce the "cytokine storm" that could otherwise cause massive inflammation, organ failure and death in common critical illnesses such as sepsis, burn injury, trauma, lung injury, and pancreatitis. These are conditions where the mortality is extremely high, yet no effective treatments exist. Additional information is available on the Company's website: http://www.cytosorbents.com.
This press release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this press release are not promises or guarantees and are subject to risks and uncertainties that could cause our actual results to differ materially from those anticipated. These statements are based on management's current expectations and assumptions and are naturally subject to uncertainty and changes in circumstances. We caution you not to place undue reliance upon any such forward-looking statements. Actual results may differ materially from those expressed or implied by the statements herein. CytoSorbents Corporation and CytoSorbents, Inc believe that its primary risk factors include, but are not limited to: obtaining government approvals including required FDA and additional CE Mark approvals; ability to successfully develop commercial operations; dependence on key personnel; acceptance of the Company's medical devices in the marketplace; the outcome of pending and potential litigation; compliance with governmental regulations; reliance on research and testing facilities of various universities and institutions; the ability to obtain adequate and timely financing in the future when needed; product liability risks; limited manufacturing experience; limited marketing, sales and distribution experience; market acceptance of the Company's products; competition; unexpected changes in technologies and technological advances; and other factors detailed in the Company's Form 10-K filed with the SEC on March 30, 2012, which is available at http://www.sec.gov.
CONTACT: Company Contact: CytoSorbents Corporation Dr. Phillip Chan Chief Executive Officer (732) 329-8885 ext. *823 firstname.lastname@example.org Investor Contact: Alliance Advisors, LLC Alan Sheinwald (914) 669-0222 email@example.com Valter Pinto (914) 669-0222 x201 firstname.lastname@example.orgSource:CytoSorbents