MONMOUTH JUNCTION, N.J.,
Oct. 10, 2014 /PRNewswire/ --
CytoSorbents Corporation (OTCQB: CTSO) is proud to announce that it
was named the Health sector winner at the 2014 GREAT Tech Awards
Gala last evening. Sponsored by United Kingdom Trade &
Investment and the British Consulate General New York, the GREAT
Tech Awards selected one winner in each of six categories from a
pool of 120 high growth companies from New York, New
Jersey, Pennsylvania and
Connecticut.
United Kingdom Secretary of
State for Foreign and Commonwealth Affairs, Philip Hammond stated, "The GREAT Tech Awards
reflect the British government's commitment to helping the best and
brightest American tech companies to expand across the
Atlantic."
CytoSorbents was recognized for its innovative and potentially
revolutionary blood purification technology, CytoSorb®, designed to
help treat deadly inflammation in patients with life-threatening
conditions such as sepsis, trauma, burn injury, lung injury, and
others in the intensive care unit. Left unchecked, this
uncontrolled inflammation can lead to multiple organ failure, the
cause of nearly half of all deaths in the ICU today. CytoSorb®
reduces "cytokine storm" and other inflammatory toxins that fuel
the fire of inflammation, with the goal of preventing or treating
organ failure, thereby saving lives while reducing the massive
costs of ICU care. CytoSorb® is approved in all 28 countries
of the European Union, including the U.K. and Ireland, and marketed in 19 countries
worldwide.
Dr. Phillip Chan, Chief Executive
Officer of CytoSorbents stated, "It is a tremendous honor for our
company to have won this award, particularly amongst so many other
exciting and accomplished companies. We thank the organizers and
distinguished panel of judges of the GREAT Tech Awards for
recognizing our unique technology and our efforts to save the lives
of those greatest in need. We are also thankful for the
growing support of CytoSorb® amongst physicians and others in the
medical community who are working with us to achieve this common
goal."
In addition to the recognition as one of the most promising
healthcare companies in the region, CytoSorbents will receive
business strategy, business development, accounting, legal, and
employee recruitment assistance to facilitate its further market
penetration into the U.K. market with distribution partner LINC
Medical Systems Ltd.
About CytoSorbents Corporation
CytoSorbents
Corporation is a critical care immunotherapy company using blood
purification to modulate inflammation -- with the goal of
preventing or treating multiple organ failure in life-threatening
illnesses. Organ failure is the cause of nearly half of all deaths
in the intensive care unit, with little to improve clinical
outcome. CytoSorb®, the Company's flagship product, is approved in
the European Union as a safe and effective extracorporeal cytokine
adsorber, designed to reduce the "cytokine storm" that could
otherwise cause massive inflammation, organ failure and death in
common critical illnesses such as sepsis, burn injury, trauma, lung
injury, and pancreatitis. 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
try to remove inflammatory mediators, such as cytokines and free
hemoglobin, which can lead to post-operative complications,
including multiple organ failure.
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. CytoSorbents 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.
Additional information is available for download on the Company's
website: http://www.cytosorbents.com/
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. Forward-looking statements in this press
release are not promises or guarantees and are subject to risks and
uncertainties that could cause our actual results to differ
materially from those anticipated. These statements are based on
management's current expectations and assumptions and are naturally
subject to uncertainty and changes in circumstances. We caution you
not to place undue reliance upon any such forward-looking
statements. Actual results may differ materially from those
expressed or implied by the statements herein. Risk factors are
detailed in the Company's Form 10-K filed with the SEC on
March 31, 2014, which is available at
http://www.sec.gov.
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SOURCE CytoSorbents Corporation