MONMOUTH JUNCTION, New Jersey,
May 19, 2015 /PRNewswire/ --
CytoSorbents Corporation (NASDAQ: CTSO), a leader in critical care
immunotherapy commercializing its CytoSorb® extracorporeal cytokine
adsorber to purify blood and control severe inflammation, today
announced that it has established an exclusive agreement with
AlphaMedix Ltd to distribute CytoSorb® in Israel for all critical care and cardiac
surgery applications.
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Under the terms of this agreement, the newly established acute
hospital care arm of AlphaMedix will seek Israeli Ministry of
Health approval for CytoSorb® and registration with AMAR, the
Ministry's Medical Device division responsible for the registration
and supervision of medical devices in Israel. This agreement is subject to annual
minimum purchases to maintain exclusivity.
Dr. Phillip Chan, Chief Executive
Officer of CytoSorbents stated, "We are pleased to partner with
AlphaMedix to register and distribute CytoSorb® in Israel, a country known for its leadership in
cutting-edge medical technologies. Having visited a number of
hospitals in Israel, I believe
CytoSorb® will add to the already high quality of medical care and
level of preparedness throughout the country. Alphamedix and its
team have strong regulatory expertise, an outstanding track record
of new product introductions, and a new dedicated acute care sales
and marketing team. CytoSorb® will be the cornerstone of
AlphaMedix's new acute care initiative."
Mr. Zvika Kaufman, Chairman of
AlphaMedix and former CEO of Luxembourg Pharmaceuticals stated,
"CytoSorb® represents a potentially groundbreaking treatment to
reduce deadly inflammation caused by conditions as varied as
sepsis, trauma and burns, among others. Feedback from intensive
care physicians, cardiac surgeons, and health officials at major
medical centers in Israel,
including the Magen David Adom, Israel's national emergency medical, disaster,
ambulance and blood bank service, reinforces the clear and
substantial need for an advanced and previously unavailable product
like CytoSorb®, which fills a major treatment gap in the country.
As the former distributor of B Braun dialysis products in
Israel, we look forward to making
CytoSorb® available to critically-ill and cardiac surgery patients
as soon as possible."
The Israeli healthcare market, serving a population of 8 million
people, is an attractive focus of international manufacturers of
innovative pharmaceuticals and medical devices because of its
world-renowned medical leaders, and its well-established and modern
medical infrastructure. Israel
provides universal health coverage to its citizens with services
offered in the areas of family medicine, emergency treatment,
elective surgery, transplants and medications.
About AlphaMedix Ltd
AlphaMedix Ltd. was founded in 2009 and is headquartered near
Tel Aviv. Established and managed
by leading medical marketing executives, AlphaMedix aims to become
the premier importer of medical products in Israel. Initially focused on the medical
aesthetics market, where it has established a strong market
position, AlphaMedix has now formed an acute hospital care division
that will target the needs of patients in the intensive care unit
and in cardiac surgery.
Alphamedix provides Israeli medical professionals with access to
innovative, high-quality medical products and technologies. Its
team has extensive experience in successfully introducing and
supporting medical products, making AlphaMedix an ideal
distribution partner for manufacturers. From initial market
introduction, through product workshops and training, all the way
to expert professional after-sales support and service, Alphamedix
does what it takes to ensure the success of its partners and
customers.
About CytoSorbents Corporation
CytoSorbents Corporation is a critical care focused
immunotherapy company using blood purification to control severe
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 with
distribution in 29 countries around the world, 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 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 US patents and multiple applications
pending, including HemoDefend™, ContrastSorb, DrugSorb, and others.
Additional information is available for download on the Company's
websites: http://www.cytosorbents.com and
http://www.cytosorb.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. 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 31, 2015, 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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Cytosorbents
Contact: Amy Vogel
Investor
Relations
(732) 329-8885 ext.
*825
avogel@cytosorbents.com
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Investor
Contact:
Lee Roth
The Ruth
Group
646-536-7012
lroth@theruthgroup.com
Public Relations
Contact:
Melanie
Sollid-Penton
The Ruth
Group
646-536-7023
msollid@theruthgroup.com
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