MONMOUTH JUNCTION, N.J.,
June 13, 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 it has
signed an exclusive distributorship agreement with Palex Medical
SA, one of Spain's largest
independent medical device distributors, to bring its CytoSorb®
therapy to Spain and
Portugal. This multi-year agreement includes all critical
care applications in these two countries, and is subject to annual
minimum purchases of CytoSorb® to maintain exclusivity.
Mr. Carlos Chordá, General
Manager of Palex Medical stated, "We are excited to be working with
CytoSorbents to bring CytoSorb® to intensive care units throughout
Spain and Portugal. The many successes of
CytoSorb® in the treatment of critically-ill patients have been
impressive. We look forward to playing an important role in
helping physicians 'regain control' of their difficult to treat
patients as well as to continuing to improve patients' quality of
life."
Dr. Phillip Chan, Chief Executive
Officer of CytoSorbents stated, "Palex has an outstanding
reputation of launching new innovative products across a breadth of
different treatment areas to physicians and hospitals in these
countries. In a difficult but improving economy, it was
particularly important to us to work with an established market
leader that intimately understands the Spanish and Portuguese
hospital systems. We welcome Palex to the CytoSorb®
family."
Spain has a population of 48
million people, making it the fifth largest country in the European
Union. Portugal has a
population of 10.5 million people. The public healthcare
system in Spain is fully-funded by
the government and supplemented through social security payments,
while private healthcare also co-exists. Spain spends approximately 10% of its gross
domestic product on healthcare.
About Palex Medical SA
Palex Medical SA is the leading company in Spain distributing medical products for more
than 60 years. With more than 300 employees, Palex distributes
products into most major categories at Spanish Hospitals, and has
always focused on Innovation and bringing the latest technologies
to the Spanish Health System. For more information,
please visit the Palex website.
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