MONMOUTH JUNCTION, N.J.,
Sept. 23, 2016 /PRNewswire/
-- CytoSorbents Corporation (NASDAQ: CTSO), a critical care
immunotherapy leader commercializing its flagship CytoSorb®
cytokine adsorber to treat deadly inflammation in critically-ill
and cardiac surgery patients around the world, today announced
that it has signed an exclusive distribution agreement with
Armaghan Salamat Kish Group (Arsak) to distribute CytoSorb® for all
critical care, cardiac surgery, and other hospital applications in
Iran.
Mr. Mohammadreza Hosseini, Chief
Executive Officer of Armaghan Salamat Kish stated, "This is a
historic moment. In the past, we have seen many hospitalized
patients fall victim to sepsis, the systemic inflammatory response
syndrome (SIRS), and other related critical conditions. At those
times, we had wished somebody, someday could do something for them
and end this nightmare of the critical care world. Now, we
are proud to have this agreement with CytoSorbents to help these
patients ourselves."
Mr. Hosseini continued, "In our pre-marketing studies, CytoSorb®
therapy has generated a lot of attention and interest from key
opinion leaders as a new way to control and manage SIRS, treat
bacterial infection and toxemia, and prevent multiple organ
failure in life-threatening illnesses and complications of cardiac
and transplant surgery. As the CEO of one of the leading
medical device distributors in Iran, we are fully-committed to the commercial
and humanitarian success of CytoSorb® in the country, particularly
for patients and their families. As our two companies embrace
this opportunity, we are reminded of the words of Jacob Bronowski who said, 'Science is the
acceptance of what works and what does not. That needs more courage
than we might think.'"
Dr. Phillip Chan, CEO of
CytoSorbents stated "We are pleased that Armaghan Salamat Kish will be working with us to
bring CytoSorb® to hospitalized patients throughout the
country. Their extensive experience and established dedicated
sales force in our common markets make them an ideal partner and
will ensure strong synergy. In addition, we share a common
dedication to help those patients in greatest need, wherever they
may be."
CytoSorb® is now distributed in 39 countries throughout the
world. Iran has a population
of 78 million people, with approximately 550 government funded
hospitals that provide inpatient medical care. Health
insurance is provided through either private insurance or the
Social Security Organization.
About Armaghan Salamat Kish Group
Armaghan Salamat Kish Group (Arsak), a biomedical engineering
company, was founded in 2005 with highly skilled and experienced
engineers and experts. The company focuses on the importation of
high impact medical devices in the areas of Anesthesia,
Otolaryngology (ENT), Cardiac surgery, Ophthalmology, and Intensive
Care and Regenerative medicine. Having developed professional
relationships with important clinical centers throughout the
country, as well as scientific and technical interactions with
remarkable doctors and specialists, Armaghan Salamat Kish Co. has
maintained considerable collaborations and business partnerships
with leading European and American medical device companies.
Relying on the wealth of experience and expertise, its long-term
commitment is to deliver and equip clinical centers with
innovative, cost-effective high-tech solutions to help physicians
and patients throughout the country.
About CytoSorbents Corporation (NASDAQ: CTSO)
CytoSorbents Corporation is a leader in critical care
immunotherapy, specializing in blood purification. Its flagship
product, CytoSorb® is approved in the European Union with
distribution in 39 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. CytoSorbents is in
the process of completing its REFRESH (REduction in FREe
Hemoglobin) 1 trial - a multi-center, randomized controlled study
evaluating the safety of intra-operative CytoSorb® use in a
heart-lung machine during complex cardiac surgery. In early
2017, the company plans to initiate a pivotal REFRESH 2 trial
intended to support U.S. FDA approval. CytoSorb® has been
used safely in more than 14,000 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. Its technologies have received non-dilutive
grant and contract funding in excess of $18
million from DARPA, the U.S. Army, the U.S. Air Force, the
U.S. Department of Health and Human Services, the National
Institutes of Health (NIH), National Heart, Lung, and Blood
Institute (NHLBI), U.S. Special Operations Command (SOCOM) and
others. 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
CytoSorb-XL, HemoDefend™, ContrastSorb, DrugSorb and others.
For more information, please visit the Company's
websites: http://www.cytosorbents.com and http://www.cytosorb.com or
follow us on Facebook and Twitter.
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
Public Relations
Contact:
Amy
Phillips
Pascale Communications
412-327-9499
amy@pascalecommunications.com
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SOURCE CytoSorbents Corporation