MONMOUTH JUNCTION, N.J.,
May 18, 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, announced that its
CytoSorb® therapy has achieved final product registration in
Russia and will be formally
introduced by its distribution partner, INTENSIVMED, to the Russian
intensive care and cardiac surgery communities in major near-term
conferences.
Dr. Phillip Chan, Chief Executive
Officer of CytoSorbents stated, "Following an extensive,
multi-year process, we are extremely pleased to announce
final registration of CytoSorb® in Russia. It now enables our
exclusive distribution partner, INTENSIVMED, to begin actively
selling CytoSorb® throughout the Russian Federation. With a
comprehensive footprint in critical care and as the official dealer
of Sorin Group, a multi-national cardiac surgery company now known
as LivaNova, INTENSIVMED is ideally positioned to market CytoSorb®
successfully in Russia in both the
intensive care unit (ICU) and cardiac surgery markets."
Mr. Victor Gorobets, CEO of
INTENSIVMED LLC stated, "We are excited to announce that
the registration of CytoSorb® in Russia has been successfully obtained.
We will begin marketing CytoSorb® immediately in
the Russian medical market, and predict strong interest with
doctors for this unique therapy. CytoSorb® is a breakthrough
in the modern medical world, opening new horizons in treating the
most challenging conditions, such as sepsis, septic shock and the
systemic inflammatory response syndrome (SIRS), with the goal of
attenuating severe inflammation and successfully preventing organ
failure. This innovative technology brings healthcare
standards to a new level and we are proud to be its beacon in
Russia."
INTENSIVMED has an ambitious near-term marketing agenda and has
already been exhibiting CytoSorb® at the 13th All-Russia
Scientific-Methodical conference on "Standards and Individual
Approaches in Anesthesiology and Resuscitation" in southern
Russia this month. It will
also be an active partner of the 10th Jubilee
International Conference in Moscow,
Russia on June 3-4,
2016. This year, the conference will be focused on the
"Actual Aspects of Extracorporeal Blood Purification in Intensive
Care," and is expected to provide an excellent forum to highlight
CytoSorb®. Dr. Zsolt
Molnar from University of Szeged, Hungary will discuss his experiences with
CytoSorb®, while other distinguished speakers will discuss the
expanding role of extracorporeal blood purification in the ICU.
Russia is the largest country
in the world in terms of land and the 9th most
populous. Its gross domestic product (forecast 2016) of
$1.2 trillion is driven by a wealth
of natural resources including oil, natural gas, coal, timber and
minerals. The top 10 cities, including the capital city of
Moscow and St. Petersburg, are home to nearly 20% of the
country's total population of 145 million, enabling a focused
marketing effort. According to the Ministry of Finance of
Russian Federation, the government
will spend 3% of GDP, or approximately $38
billion, on healthcare in 2016.
About INTENSIVMED
INTENSIVMED LLC is an established supplier of medical
equipment and disposables to the Russian public
and private healthcare institutions and
is headquartered in Moscow
and St. Petersburg, Russia.
Its business focus is intensive care products and its
main customers are anesthesiology and reanimatology (AR)
and intensive care units, cardiac surgery operating
theaters, and blood transfusion departments. The company
is the official dealer of Sorin Group, the exclusive representative
of eZono AG, and the exclusive distributor of CytoSorb® in
Russia. One of the company's main aims is to introduce
innovation into doctors' everyday routine, and thus INTENSIVMED is
the golden sponsor of the school in AR and ICU post-graduate
training. For more information, please visit:
www.intensivmed.ru
About CytoSorbents Corporation (NASDAQ: CTSO)
CytoSorb® is approved in the European Union with distribution in
32 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. 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 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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Cytosorbents Contact:
Amy
Vogel
Investor
Relations
(732) 329-8885 ext.
*825
avogel@cytosorbents.com
Investor Contact:
Lee
Roth
The Ruth
Group
646-536-7012
lroth@theruthgroup.com
Public Relations Contact:
Christopher Hippolyte
The
Ruth Group
646-536-7023
chippolyte@theruthgroup.com
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SOURCE CytoSorbents Corporation