MONMOUTH JUNCTION, N.J., Oct. 17, 2016 /PRNewswire/ — CytoSorbents Corporation (NASDAQ: CTSO), a critical care immunotherapy leader commercializing its flagship CytoSorb® extracorporeal cytokine adsorber to treat deadly inflammation in critically-ill and cardiac surgery patients around the world, is pleased to congratulate Kathleen Bloch, Chief Financial Officer (CFO) of CytoSorbents, as the winner of the NJBIZ Public Company CFO of the Year Award, announced Friday, October 14th at the annual awards ceremony.
The 2016 NJBIZ CFO of the Year Awards celebrates New Jersey’s financial executives at all levels who contribute to the success of New Jersey’s economic growth and stability.
Dr. Phillip Chan, Chief Executive Officer of CytoSorbents stated, “We are very proud of Kathy and this award that reflects her many accomplishments not just at CytoSorbents, but throughout her long and successful career. Kathy’s contributions to our company run far and wide, and include for example, helping to establish and execute upon our global strategy, spearheading the up-listing to NASDAQ and ensuring ongoing SEC and Sarbanes Oxley compliance, and managing the financing and financial needs of this rapidly growing, vertically integrated manufacturer of CytoSorb® that through the effort of more than 70 employees over 2 continents, is saving lives and generating strong sales growth across a 40-country network of distributors, strategic partners, and our own direct sales team. Congratulations again to Kathy for this well-deserved award.”
NJBIZ, New Jersey’s leading business journal, produces a weekly print edition with a circulation of more than 15,000 copies, as well as providing 24/7 business news coverage through its NJBIZ.com website and multiple daily e-newsletters. The publication, founded in 1987, is also well-known as the leader of numerous events honoring New Jersey’s top business professionals.
About CytoSorbents Corporation (NASDAQ: CTSO)
CytoSorbents Corporation is a leader in critical care immunotherapy, specializing in blood purification. Its flagship product, CytoSorb® is approved in the European Union with distribution in 40 countries around the world, as a safe and effective extracorporeal cytokine adsorber, designed to reduce the “cytokine storm” or “cytokine release syndrome” that could otherwise cause massive inflammation, organ failure and death in common critical illnesses such as sepsis, burn injury, trauma, lung injury and pancreatitis, as well as in cancer immunotherapy. These are conditions where the risk of death is extremely high, yet no effective treatments exist. CytoSorb® is also being used during and after cardiac surgery to remove inflammatory mediators, such as cytokines and free hemoglobin, which can lead to post-operative complications, including multiple organ failure. CytoSorbents has completed its REFRESH (REduction in FREe Hemoglobin) 1 trial – a multi-center, randomized controlled study that has demonstrated the safety of intra-operative CytoSorb® use in a heart-lung machine during complex cardiac surgery. In early 2017, the company plans to initiate a pivotal REFRESH 2 trial intended to support U.S. FDA approval. CytoSorb® has been used safely in more than 14,000 human treatments to date.
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. Its technologies have received non-dilutive grant and contract funding in excess of $18 million from DARPA, the U.S. Army, the U.S. Air Force, the U.S. Department of Health and Human Services, the National Institutes of Health (NIH), National Heart, Lung, and Blood Institute (NHLBI), U.S. Special Operations Command (SOCOM) and others. The Company has numerous products under development based upon this unique blood purification technology, protected by 32 issued U.S. patents and multiple applications pending, including CytoSorb-XL, HemoDefend™, ContrastSorb, DrugSorb, and others. For more information, please visit the Company’s websites: https://cytosorbents.com and http://www.cytosorb.com or follow us on Facebook and Twitter.
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. These forward-looking statements include, but are not limited to, statements about our plans, objectives, representations and contentions and are not historical facts and typically are identified by use of terms such as “may,” “should,” “could,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue” and similar words, although some forward-looking statements are expressed differently. You should be aware that the forward-looking statements in this press release represent management’s current judgment and expectations, but our actual results, events and performance could differ materially from those in the forward-looking statements. Factors which could cause or contribute to such differences include, but are not limited to, the risks discussed in our Annual Report on Form 10-K, filed with the SEC on March 9, 2016, as updated by the risks reported in our Quarterly Reports on Form 10-Q, and in the press releases and other communications to shareholders issued by us from time to time which attempt to advise interested parties of the risks and factors which may affect our business. We caution you not to place undue reliance upon any such forward-looking statements. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, other than as required under the Federal securities laws.
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