MONMOUTH JUNCTION, N.J., July 13, 2016 /PRNewswire/ — CytoSorbents Corporation (NASDAQ: CTSO), a critical care immunotherapy leader commercializing its flagship CytoSorb® blood filter to treat deadly inflammation in critically-ill and cardiac surgery patients around the world, today announced that it has signed a formal exclusive distribution agreement with Medial, Ltd., to distribute CytoSorb® in Hungary. In a separate agreement, Meditrade Ltd. will distribute CytoSorb® for all critical care and cardiac surgery applications in the Czech Republic and Slovakia, and for cardiac surgery applications in Poland. Fresenius Medical Care will continue to distribute CytoSorb® in Poland for all critical care applications under the terms of an existing agreement. Both Medial and Meditrade are currently selling CytoSorb® in their respective territories.
Mária Szűcsné Pompor, Managing Director of Medial Ltd. stated, “We are very proud to have already successfully introduced CytoSorb®, the innovative and promising treatment for patients with a systemic inflammatory response syndrome, severe sepsis or septic shock, in Hungary. In our significant clinical experience so far, the adjuvant use of CytoSorb® extracorporeal therapy has been used to help control the excessive inflammatory response, remove certain bacterial toxins, and protect otherwise healthy organs in life-threatening illnesses. These positive clinical experiences obtained in the Hungarian University Clinics and major hospitals support our belief that CytoSorb® adjuvant therapy can efficiently and safely attenuate severe cytokine storm in cardiac surgery and in the ICU, promoting improved clinical outcomes and helping patients to survive.”
Pavel Bohdal, Chief Executive Officer of Meditrade Ltd. remarked, “We are excited to continue our cooperation with CytoSorbents because CytoSorb® represents one of the newest therapeutic innovations in critical care and cardiac surgery, two areas that we specialize in. We have watched the rapid growth of CytoSorb® in many different countries and are pleased to be able to bring this revolutionary product to help patients in the Czech Republic, Slovakia, and Poland. We have seen the therapy work in the hands of our own physicians, giving us great confidence about the impact it will have on healthcare in the future.”
“Medial and Meditrade are long-standing pioneers of novel medical therapies in their respective countries with excellent reputations, and we are delighted to be working with them,” commented Dr. Phillip Chan, Chief Executive Officer of CytoSorbents. “This is yet another step in our long-standing commitment to make CytoSorb® available to clinicians to help treat their patients globally.”
CytoSorb® is now distributed in 37 countries throughout the world. Poland has a population of 38.5 million people, and Hungary, the Czech Republic, and Slovakia have a combined population of approximately 26.0 million people.
About Medial Ltd
Medial Ltd has been a reliable supplier of medical equipment and disposables to Hungarian healthcare institutions since 1992 and is headquartered in Budapest. Its business activity is focused on intensive care, OR and disinfection products. Its business strategy is based on the distribution of innovative, high quality medical technology products in the Hungarian health care market. For more information, please visit: www.medial.hu
About Meditrade Ltd
Meditrade Ltd. is an established international company with more than 70 employees operating in 4 countries: Slovakia, Czech Republic, Ukraine and Poland. Meditrade is a supplier and distributor of well-known worldwide companies such as Abbott Vascular, Boston Scientific, Terumo, Ethicon, and GE Healthcare, focusing on specialty medical devices and disposables in intensive care medicine, cardiology, cardiac surgery, interventional cardiology, and general surgery in public and private healthcare institutions. One of the company’s main aims is to introduce innovation into professional’s everyday routine. Meditrade is more than a distributor. For more information, please visit: http://www.meditrade.sk/en
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 37 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. CytoSorb® has been used safely in more than 12,000 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. 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 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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