MONMOUTH JUNCTION, N.J.,
Oct. 11, 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 Foxx
Medical Chile SpA (Foxx Medical) to distribute CytoSorb for all
critical care, cardiac surgery, and other hospital applications in
Chile. This multi-year agreement is subject to annual minimum
purchases of CytoSorb to maintain exclusivity.
Mr. Patrick Ward, General Manager
and Chairman of Foxx Medical stated, "We are excited to commence
our partnership with CytoSorbents. With CytoSorb, doctors have the
unique opportunity to effectively recover control of their patients
and rescue them out of severe sepsis and the dangerous systemic
inflammatory response syndrome (SIRS). Within less than 2
weeks, CytoSorb has already been used successfully to treat two
critically-ill patients who were not responding to the standard
protocol. Both are now out of the ICU and recovering well."
Mr. Fernando Gallardo, Sales
Manager for Foxx Medical said, "CytoSorbents has been very
supportive and a pleasure to work with. They have provided our team
with training and assistance that allowed us to both identify the
right patients and treat them at the correct moment."
Dr. Phillip Chan, CEO of
CytoSorbents stated "We welcome Foxx Medical to our growing list of
distributors and strategic partners for CytoSorb, which is now
distributed in 40 countries throughout the world. Foxx has a
strong critical care focus, with a proven history of introducing
new innovative products to the hospital. As our first
distributor in South America, we
are pleased with their rapid start and early successes, and look
forward to a fruitful collaboration."
Chile has a population of
approximately 18 million people, covered mainly by public health
insurance (76%) through the Fondo Nacional del Salud (FONASA), with
approximately 19% of the population covered by private
insurance. There are approximately 425 hospitals in
Chile, of which 54% are private
and 46% are public, with 127 in the capital city of Santiago alone.
About Foxx Medical
Foxx Medical Chile SpA, is a growing medical device distributor
and value-added solutions provider based in Santiago, Chile. The company focuses on
delivering leading edge medical products and innovative solutions
for its customers in a number of related business areas.
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 40 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 has
completed its REFRESH (REduction in FREe Hemoglobin) 1 trial - a
multi-center, randomized controlled study that has demonstrated 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