MONMOUTH JUNCTION, N.J., Aug. 13, 2019 /PRNewswire/ — CytoSorbents Corporation (NASDAQ: CTSO), a critical care immunotherapy leader using its CytoSorb® blood purification technology to treat deadly inflammation in critically-ill and cardiac surgery patients around the world, expands CytoSorb distribution to Brazil, Colombia and Costa Rica, with Contatti Medical, Service & Medical Colombia, and Nutricare Costa Rica, respectively.
Mr. Alessandro Pallamolla, CEO of Contatti Medical, stated, “We are excited to partner with CytoSorbents to bring CytoSorb to the healthcare market in Brazil. The Brazilian market is robust, serving 210 million people, where among the leading causes of death are heart disease, trauma by traffic-accidents, sepsis, as well as chronic liver and kidney disease. When we take a look at the intensive care unit (ICU) figures in public hospitals, the mortality rate due to sepsis is huge – around 45%. We strongly believe CytoSorb can play a key role in addressing and expanding these treatments in a completely innovative way.”
Mr. Juan Carlos Lopez, CEO of Service & Medical Colombia, remarked, “We are thrilled to be able to offer CytoSorb to patients in Columbia and to work with CytoSorbents. The Colombian healthcare system supports over 48 million people and covers the highest number of extracorporeal membrane oxygenation (ECMO) treatments in Latin America – a significant application for CytoSorb. With over 17,000 open heart surgeries per year in the country, we also expect a significant demand for CytoSorb in the field of cardiac surgery.”
Mr. Luis Marín Llosent, CEO of Nutricare Costa Rica, expressed, “We are glad to formalize this partnership with CytoSorbents in order to offer a more effective treatment for sepsis and other inflammatory conditions to the people of Costa Rica. We have transformed the renal replacement therapy market in the country for more than 20 years. Now we are taking a step forward to revolutionize the treatment of inflammation with CytoSorb. More than 85% of the Costa Rican population is attended by Social Security. We believe that CytoSorb will certainly improve survival and reduce the direct and indirect costs of healthcare. Working with CytoSorbents is a way to bring a life-saving therapy to the reach of many people in the country.”
Dr. Phillip Chan, CEO of CytoSorbents Corporation, commented, “We are ecstatic to work with Contatti Medical, Service & Medical Columbia, and Nutricare Costa Rica, to expand CytoSorb’s availability even further into Central and South America, where we have already established partnerships in Mexico, Panama, and Chile. We are very fortunate to welcome such high caliber medical device and healthcare distributors with long track records of success in their respective countries, to the CytoSorbents family. With a combined population of 263 million people, these new countries have the potential to significantly add to sales of CytoSorb in the future.”
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 58 countries around the world, as an 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. 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 reduce inflammatory mediators that can lead to post-operative complications, including multiple organ failure. CytoSorbents is conducting its pivotal REFRESH 2-AKI trial – a multi-center, randomized controlled, clinical trial intended to support U.S. regulatory approval of CytoSorb for use in a heart-lung machine during complex cardiac surgery to reduce organ injury. CytoSorb® has been used in more than 67,000 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, contract, and other funding of nearly $26 million from DARPA, the U.S. Army, 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 many issued U.S. and international patents and multiple applications pending, including CytoSorb-XL™, HemoDefend™, VetResQ™, K+ontrol™, ContrastSorb, DrugSorb, and others. For more information, please visit the Company’s websites at www.cytosorbents.com and 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 7, 2019, 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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