MONMOUTH JUNCTION, N.J., July 8, 2013 (GLOBE NEWSWIRE) -- CytoSorbents Corporation (OTCBB:CTSO), a critical care focused company commercializing its European Union approved CytoSorb® blood filter to treat life-threatening illnesses in the intensive care unit, announced today that its wholly-owned subsidiary, CytoSorbents Europe GmbH has appointed Dr. Rainer Kosanke, PhD, as European Director of Scientific Affairs.
Dr. Kosanke was formerly the Head of Medical Marketing for Germany, Austria, and Switzerland and Deputy Sales Director at B.R.A.H.M.S AG where he helped to lead the market introduction and development of the now leading sepsis biomarker in the world, procalcitonin (also known as PCT), from 2003-2009. PCT has become the gold standard in Europe to both diagnose bacterial sepsis, and to help guide the length of antibiotic treatment. In 2009, Thermo Fisher Scientific acquired B.R.A.H.M.S. AG for $470 million, or 4.5 times 2008 revenue of $105 million, based primarily on the potential worldwide market for PCT, but also for biomarkers for cardiovascular disease and neurologic disorders. At Thermo Fisher Scientific, Dr. Kosanke was in charge of coordinating a number of large randomized controlled clinical trials using PCT and other sepsis biomarkers under development, with combined target enrollment of more than 2,800 patients. Dr. Kosanke received his PhD from the Ernst-Moritz-Arndt University of Greifswald, where he became an Associate Professor. He has extensive expertise in inflammation, blood coagulation, the systemic inflammatory response syndrome (SIRS, which includes sepsis), and biomarkers of sepsis.
At CytoSorbents Europe GmbH, Dr. Kosanke will assume direct responsibility for the ongoing CytoSorb® Dosing Study that is investigating the safety and efficacy of longer blood purification treatment in severe sepsis or septic shock patients with respiratory failure. He will also coordinate the growing number of investigator-initiated studies, now more than ten, that will use CytoSorb® in numerous treatment scenarios including sepsis, cardiac surgery, pancreatitis, acute kidney injury, severe lung injury, liver failure and others. This includes a recently announced 40 patient randomized controlled trial investigating the ability of CytoSorb® to reduce key cytokines during and after elective cardiopulmonary bypass (CPB) surgery, when used in parallel to the CPB circuit, at the Medical University of Vienna. Dr. Kosanke will also be responsible for establishing an international patient registry for CytoSorb® treatments.
Dr. Christian Steiner, Vice President of Sales and Marketing of CytoSorbents Corporation, and a Managing Director of CytoSorbents Europe GmbH, stated, "We are pleased to welcome Rainer to the CytoSorbents Europe team. His deep understanding of the cytokine-driven inflammatory cascade, and how it impacts organ injury in life-threatening illnesses combined with his experience introducing a sepsis diagnostic tool to key opinion leaders in our direct sales territory is a perfect fit for our company. In addition, his background in managing clinical trials at Thermo Fisher will be invaluable as we expand the clinical experience with CytoSorb®."
Dr. Kosanke commented, "New technologies offer an excellent opportunity to improve the treatment of critically ill patients. For example, the development of new diagnostics such as PCT has led to a more rapid diagnosis of sepsis with improved antibiotics management. Now we need to focus on developing better treatments to improve patient outcomes in sepsis and other serious illnesses. In Germany alone, more than 60,000 patients die each year from complications of sepsis."
Dr. Kosanke continued, "I believe that the elimination of inflammatory substances such as cytokines with CytoSorb® can substantially improve the treatment of patients with SIRS, and is the right approach to help reduce organ dysfunction and failure. I am excited to have the opportunity to contribute to this innovative company, and advance CytoSorb® therapy in Europe."
About CytoSorbents Corporation
CytoSorbents is a critical care-focused therapeutic device company using blood purification to modulate the immune system - with the goal of preventing or treating multiple organ failure in life-threatening illnesses. Organ failure is the cause of nearly half of all deaths in the intensive care unit, with little to improve clinical outcome. CytoSorb®, the Company's flagship product, is approved in the European Union as a safe and effective extracorporeal 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. CytoSorbents' purification technologies are based on biocompatible, highly porous polymer beads that can actively remove toxic substances from blood and other bodily fluids by pore capture and surface adsorption. CytoSorbents has numerous products under development based upon this unique blood purification technology, protected by 32 issued US patents and multiple applications pending, including HemoDefend™, ContrastSorb, DrugSorb, and others. Additional information is available for download 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. Risk factors are detailed in the Company's Form 10-K filed with the SEC on April 3, 2013, 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.org Media Contact: JQA Partners Jules Abraham (917) 885-7378 email@example.comSource:CytoSorbents