Honored with Frost & Sullivan’s Global Product Leadership Award for leading the critical-care immunotherapy segment in blood purification, CytoSorbents Corporation is currently commercializing its EU-approved CytoSorb blood filter in 43 countries around the world. By controlling dangerous inflammation and preventing complications such as organ failure—the leading cause of death in the ICU today, resulting in millions of deaths worldwide—CytoSorb® is enabling superior outcomes in critically-ill patients, with reduced overall costs of intensive care in its sights.
“There were many factors that led to our selection of CytoSorb® for this year’s Global Product Leadership Award,” said Frost & Sullivan Research Analyst Aish Vivek. “Among the most important was the recognition that this innovative product is surprisingly well-positioned to help solve two long-standing, difficult, and tightly linked fundamental problems with hospital medicine today. These include the high rates of death from common critical illnesses such as sepsis that have no approved treatment, and the resulting staggering costs and losses in critical care that are financially crippling hospital networks and healthcare systems throughout the world.”
“Further strengthening CytoSorb’s position is the scarcity of viable competition in the lucrative and vast global critical care and cardiac surgery markets, the strong physician usage and revenue growth, and the external validation from well-respected industry partners, such as Fresenius Medical Care and Terumo Cardiovascular, and government funding agencies. As a high margin, single-use product that works with existing blood pumps in hospitals, CytoSorb® also has an attractive business model that is expected to drive early and significant profitability of the company.”
CytoSorbents is nearing an inflection point of its business soon, based upon a critical mass of key opinion leader support, product awareness, product usage, clinical data, major partnerships, and geographic expansion. As the company expands its footprint worldwide, it is also pursuing U.S. approval through the application of cardiac surgery, a $1.5 billion worldwide market, and has successfully completed its REFRESH (REduction in FREe Hemoglobin) I trial, demonstrating safety and significant reductions in plasma free hemoglobin. Pending FDA approval, the company plans to pursue a pivotal REFRESH 2 registration trial starting in late 2017.
CytoSorbents represents a hybrid between a lower risk, higher visibility medical device company with a revenue-generating life-saving device, with the upside of a biotechnology company. CytoSorbents is covered by 6 analysts from Cowen & Co., Aegis Capital, H.C. Wainwright, Maxim, B. Riley, and Zacks and is part of the Russell Microcap Index. The company is led by an experienced and capable management team focused on growth and increasing shareholder value. As CytoSorbents drives to operating cash flow break even, expected before the end of 2018, the company is well-capitalized. CytoSorbents expects strong product revenue growth and achievement of major milestones for the remainder of 2017 and beyond.
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