MONMOUTH JUNCTION, N.J., July 17, 2017 /PRNewswire/ — CytoSorbents Corporation (NASDAQ: CTSO), a critical care immunotherapy leader using CytoSorb® blood purification to treat deadly inflammation in critically-ill and cardiac surgery patients around the world, announced that it has partnered with Droguería Ramón González Revilla (DRGR) to expand the sales and distribution of this life-saving technology to Panama. This multi-year agreement includes all critical care and cardiac surgery applications and is subject to annual minimum purchases of CytoSorb® to maintain exclusivity.
Ms. Francie Janson de Carrillo, Hospital Division Manager, stated, “This partnership represents an excellent opportunity to bring CytoSorb to Panama. The need is there and many physicians, both cardiac surgeons and intensivists, have known about the product for some time and are enthusiastic to have CytoSorb to help them fight excessive inflammation in their patients. Our professional sales team in Panama has already been very successful in launching and positioning CytoSorb with key opinion leaders. In a very short period of time, physicians have already treated five patients in the intensive care unit that were admitted with septic shock and 3 patients undergoing cardiac surgery with many excellent successes. We look forward to working with CytoSorbents to help even more people in the future.”
Mr. Stefan Baudis, International Sales Director of CytoSorbents Europe GmbH, said, “We are excited to work with DRGR in Panama. Following my recent visit to further train the DRGR team in Panama, I was extremely impressed by their professionalism, a great history of selling products into both the ICU and cardiac surgery, and solid key opinion leader relationships in some of the most important hospitals in the country. They have been very active in preparing the market for CytoSorb and while I was there, we even had the opportunity to introduce the therapy to more than 30 physicians and treat two patients. This was one of the fastest launches of CytoSorb that we have seen in any country, and bodes well for the future.”
About DRGR
DRGR (Droguería Ramón González Revilla) was established in 1969 with the mission to become a leader in the distribution and commercialization of high quality products focused on health and wellness, with human resources dedicated to providing excellent customer service. Our values are: 1) Passion for service 2) Commitment 3) Ethics 4) Trust, and 5) Teamwork. In focusing on these areas, we look to exceed the expectations of our customers, employees, and shareholders. DRGR has more than 150 employees working in 4 major business units: Pharmaceuticals, Hospital Medical Surgical Supplies and Equipment (which will handle CytoSorb), Government, and Consumer Products. For more information, please visit http://www.drogueria-revilla.com/drgr/
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 more than 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 and efficacy of free hemoglobin reduction with intra-operative CytoSorb® use in a heart-lung machine during complex cardiac surgery. In 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 23,000 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 in excess of $19 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 32 issued U.S. patents and multiple applications pending, including CytoSorb-XL™, HemoDefend™, VetResQ™, 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
Forward-Looking Statements
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 3, 2017, 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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Cytosorbents Contact:
Amy Vogel
Investor Relations
(732) 398-5394
Investor Relations Contact:
Bob Yedid
LifeSci Advisors
646-597-6989
Public Relations Contact:
Amy Phillips
Pascale Communications
412-327-9499
[email protected]
SOURCE CytoSorbents Corporation
