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 58 countries around the world. CytoSorb® is helping to control dangerous inflammation and to manage complications such as organ failure—the leading cause of death in the ICU today, resulting in millions of deaths worldwide—with the goal of improving patient outcomes and reduced overall costs of intensive care.
“There were many factors that led to our selection of CytoSorb® for 2017’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.”
Analyst Vivek continued, “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 has been working to develop 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, under the pivotal REFRESH 2 registration trial that is currently underway.
CytoSorbents represents a hybrid between a lower risk, higher visibility medical device company generating significant revenue with its flagship product, CytoSorb, with the potential upside of a biotechnology company. CytoSorbents is covered by 6 analysts from Cowen & Co., H.C. Wainwright, B. Riley, Dawson James, Maxim, and Zacks and is part of the Russell 2000 and 3000 Indexes. The company is led by an experienced and capable management team focused on growth and increasing shareholder value.
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