MONMOUTH JUNCTION, NJ--(Marketwire - August 09, 2012) - CytoSorbents Corporation (OTCBB: CTSO), a critical care focused company using blood purification to modulate the immune system, reduce severe inflammation, and prevent or treat organ failure caused by life-threatening illnesses, announced that it has been selected to give a 20 minute presentation on CytoSorb® at the Military Health System Research Symposium. The meeting will be held at the Harbor Beach Marriott Hotel in Fort Lauderdale, Florida, from August 13-16, 2012. Dr. Phillip Chan, Chief Executive Officer, will present preclinical and clinical data on CytoSorb® on Tuesday, August 14, 2012 at 1:20PM in the Organ Dysfunction and Failure breakout session. CytoSorbents will also be showcasing its blood purification technologies, including CytoSorb® and HemoDefend, during the conference in Booth #70.
MHSRS is the tri-service symposium that now incorporates the ATACCC, AFMRS, and Navy Medicine Research Conference. The conference is the premier scientific meeting to address the unique medical needs of the warfighter and a collaborative environment for military medical care providers with deployment experience, Department of Defense (DoD) scientists, academia, and industry who will discuss and address the advancement of research and health care development in areas of Combat Casualty Care, Military Operational Medicine, Clinical and Rehabilitative Medicine, and Military Infectious Disease Research Programs. (https://www.ataccc.org)
Dr. Chan stated, "With Phase I SBIR funding from the United States Army Medical Research and Materiel Command to develop our technologies for the treatment of trauma, as well as our recent DARPA contract announcement to develop next generation cytokine and toxin adsorbing sorbents to treat sepsis, we are pleased to have the opportunity to address a broader group of military healthcare leaders from the United States and our European Allies. We hope through broader exposure, we will gain greater funding support for our unique blood purification technologies."
The Phase I SBIR grant was supported by the US Army Medical Research and Materiel Command under Contract No W81XWH-12-C-0038.
The DARPA contract is based upon work supported by DARPA and SSC Pacific under Contract No. N66001-12-C-4199. Any opinions, findings and conclusions or recommendations expressed in this material are those of the author(s) and do not necessarily reflect the views of DARPA and SSC Pacific.
About CytoSorbents, CytoSorb®, and HemoDefend
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. In 2011, CytoSorb®, the Company's flagship product, achieved European regulatory approval as an extracorporeal cytokine filter, and can now be sold throughout the European Union (E.U.) under the CE Mark to be used in clinical situations where cytokines are elevated. The goal of CytoSorb® is to modulate the immune system by reducing "cytokine storm" in critically-ill patients that could otherwise lead to deadly inflammation, multiple organ failure, immune dysfunction, and often death in common illnesses such as sepsis, trauma, burn injury, acute respiratory distress syndrome, and pancreatitis. CytoSorb® has demonstrated statistically significant reductions in mortality in septic patients at high risk of death in early studies and is now being sold in Germany for the treatment of critical care illnesses, with availability in other E.U. countries planned in the future, assuming adequate and timely funding, and continued positive results from our clinical studies. HemoDefend is a development-stage blood purification technology platform for the blood transfusion industry intended to reduce transfusion reactions and safeguard the quality and safety of blood products. The HemoDefend technology utilizes the Company's polymer bead technology to remove many substances, such as antibodies, free hemoglobin and inflammatory mediators that can cause potentially serious and sometimes fatal transfusion reactions. CytoSorb® and HemoDefend are just two of a number of different polymers the Company has designed for various medical applications, including improved dialysis, reduction of post-surgical complications, the potential treatment of inflammatory and autoimmune disorders, rhabdomyolysis in trauma, drug detoxification, and others. Additional information is available for download on the Company's website: 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.
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