MONMOUTH JUNCTION, N.J., Dec. 2, 2020 /PRNewswire/ — CytoSorbents Corporation (NASDAQ: CTSO), a critical care immunotherapy leader that is commercializing its CytoSorb® blood purification technology to treat deadly inflammation in critically ill and cardiac surgery patients around the world, announces the launch of its international fundraising campaign to raise $100,000 to benefit the global, not-for-profit humanitarian organization, CARE USA. The international campaign, which begins today and runs through January 31, 2021, commemorates a major company milestone of having cumulatively shipped more than 100,000 CytoSorb cartridges worldwide. As part of its commitment, CytoSorbents will provide a 1:1 match for all donations contributed to the campaign, until the target is reached. All funds raised will go directly to CARE’s COVID-19 Emergency Fund that will fund programs such as sanitation, disinfectants, and education to prevent the spread of COVID-19 and other diseases.
For 75 years, CARE has worked around the globe to save lives, defeat poverty, achieve social justice, and create better lives for many of the world’s most vulnerable people. In 2020, CARE worked in over 100 countries, reaching more than 90 million people through 1,300 projects. CARE’s programs focus on humanitarian aid in natural disasters, helping to fight hunger and malnutrition, improving the well-being of mothers and children, promoting sanitation and good hygiene to prevent the spread of diseases like COVID-19, and supporting the education of young girls and the safe and fair labor of women.
Dr. Phillip Chan, Chief Executive Officer of CytoSorbents stated, “CytoSorbents is an international company working to save the lives of critically ill patients, including those with severe COVID-19 illness, across 66 countries worldwide. Because of this, we are pleased to support CARE in its like-minded mission to improve the lives of those in greatest need. CytoSorbents is proud to provide a 1:1 match on the anticipated generous donations from our network of employees, investors, partners, customers, and other supporters from around the world, with the goal of raising $100,000 for CARE and its COVID-19 Emergency Fund. Since most of the countries we serve are also supported by CARE, this fundraising campaign will provide an opportunity to give back to many of our own communities. Please join us in supporting this worthy cause during the holiday season.”
To participate in this donation-matching campaign, individuals can donate to CARE through the following CytoSorbents link: https://charity.cytosorb-therapy.com/en/home/ (which can also be found on the CytoSorbents’ website) through January 31, 2021. CARE USA is the United States chapter of CARE International, and is a 501(c)3 organization.
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 66 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 remove inflammatory mediators that can lead to post-operative complications, including multiple organ failure. CytoSorb® has been used in more than 110,000 human treatments to date. CytoSorb has received CE-Mark label expansions for the removal of bilirubin (liver disease), myoglobin (trauma) and both ticagrelor and rivaroxaban during cardiothoracic surgery. CytoSorb has also received FDA Emergency Use Authorization in the United States for use in critically ill COVID-19 patients with imminent or confirmed respiratory failure, in defined circumstances. CytoSorb has also been granted FDA Breakthrough Designation for the removal of ticagrelor in a cardiopulmonary bypass circuit during emergent and urgent cardiothoracic surgery.
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 more than $38 million from DARPA, the U.S. Department of Health and Human Services, the National Institutes of Health (NIH), National Heart, Lung, and Blood Institute (NHLBI), the U.S. Army, the U.S. Air Force, U.S. Special Operations Command (SOCOM), Air Force Material Command (USAF/AFMC), 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 ECOS-300CY™, CytoSorb-XL™, HemoDefend-RBC™, HemoDefend-BGA™, 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, including statements regarding our expectations about our cash runway, the advancement of our trials, our plans to initiate new trials, our goals to develop and commercialize CytoSorb and the timing thereof, the potential impact of COVID-19 on our operations and milestones, 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, risks discussed in our Annual Report on Form 10-K, filed with the SEC on March 5, 2020, as updated by the risks reported in our Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K, 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, particularly in light of the current coronavirus pandemic, where businesses can be impacted by rapidly changing state and federal regulations, as well as the health and availability of their workforce. 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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