MONMOUTH JUNCTION, N.J.,
May 25, 2021 /PRNewswire/ --
CytoSorbents Corporation (NASDAQ: CTSO), a critical care
leader commercializing its CytoSorb® blood purification
technology to treat deadly conditions in the intensive care unit
(ICU) and cardiac surgery, announces that the Singapore Health
Sciences Authority (HSA) has now approved registration of CytoSorb®
for all equivalent European Union (E.U.) approved indications,
including the reduction of cytokine storm, the reduction of
bilirubin in liver disease, the reduction of myoglobin in trauma,
and the removal of ticagrelor and rivaroxaban during urgent or
emergent cardiothoracic surgery.
CytoSorbents' CytoSorb blood purification now available in
Singapore to treat
life-threatening conditions via Humedical
Mr. Vincent Capponi, President and Chief Operating Officer
of CytoSorbents, stated, "We are pleased to announce the successful
registration and immediate commercial availability of CytoSorb in
Singapore through our distributor
Humedical. Singapore is one
of the wealthiest Asian countries on a per capita basis and
provides its citizens with universal health coverage that can be
supplemented with private insurance. Recent demographics and
statistics in Singapore highlight
a growing need for blood purification with CytoSorb, particularly
given that 23% of all annual deaths are related to sepsis from
pneumonia and urinary tract infections, the country ranks
4th in the world per capita for kidney failure and
spends more than $190 million
annually on dialysis treatment, the high burden of liver disease
attributed to chronic viral hepatitis, alcoholism, and fatty liver,
and the growing number of people on antithrombotics, such as
ticagrelor - launched in Singapore
in 2012 and Xarelto - approved by HSA in 2019, to reduce 1 in 3
deaths caused by cardiovascular disease each year."
Dr. Gerwin Gerke, Managing
Director of Humedical (S) PTE LTD, stated, "Singapore is a center for medical excellence
in Southeast Asia and is often at
the forefront of adopting new medical technologies that other
surrounding countries eventually follow. Based on the broad
and successful usage of CytoSorb in many countries around the
world, this therapy holds the promise to help treat many of the
life-endangering conditions that afflict the critically ill in
Singapore. We are excited to
bring this innovative technology to patients and physicians in the
country."
Mr. Stefan Baudis, Vice President
of Global Affairs at CytoSorbents commented, "We are delighted to
continue our great partnership with Humedical as our trusted
commercialization partner of CytoSorb in Singapore and Malaysia. This timely
registration of CytoSorb in Singapore is expected to catalyze the use of
our therapy in this region."
About Humedical (S) PTE LTD
Humedical is a distributor of surgical products from leading
manufacturers in the U.S., Europe,
and Japan. Among our suppliers are world class companies like
Medtronic, Integra Surgical, Mizuho Japan, Misonix, and others that
manufacture products for neuro, ortho, and spine surgery and other
surgical disciplines as well as general operating theatre
supplies. The company was founded in 1990 and has a sister
company covering the Malaysian market. Our customers are
exclusively hospitals and specialist surgeons.
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 68 countries outside of the US, as an
extracorporeal cytokine adsorber designed to reduce the "cytokine
storm" or "cytokine release syndrome" that may result in massive
inflammation, organ failure and death in common critical illnesses.
These are conditions where the risk of death may be extremely high,
yet no effective treatments exist. CytoSorb® is also
being used during and after cardiac surgery to remove inflammatory
mediators that can lead to post-operative complications, including
multiple organ failure. CytoSorb® has been used in more than
131,000 human treatments to date. CytoSorb has received
CE-Mark label expansions for the removal of bilirubin (liver
disease), myoglobin (trauma), and both ticagrelor and
rivaroxaban during cardiothoracic surgery. CytoSorb has
also received FDA Emergency Use Authorization in the United States for use in critically ill
COVID-19 patients with imminent or confirmed respiratory failure,
in defined circumstances. CytoSorb has also been granted FDA
Breakthrough Designation for the removal of ticagrelor in a
cardiopulmonary bypass circuit during emergent and urgent
cardiothoracic surgery.
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, contract, and other funding of more than $39.5 million from DARPA, the U.S. Department of
Health and Human Services (HHS), the National Institutes of Health
(NIH), National Heart, Lung, and Blood Institute (NHLBI), the U.S.
Army, the U.S. Air Force, U.S. Special Operations Command (SOCOM),
Air Force Material Command (USAF/AFMC), and others. The Company has
numerous products under development based upon this unique blood
purification technology protected by many issued U.S. and
international patents and multiple applications pending, including
ECOS-300CY™, CytoSorb-XL™, HemoDefend-RBC™, HemoDefend-BGA™,
VetResQ™, K+ontrol™, DrugSorb™, ContrastSorb, and
others. For more information, please visit the
Company's websites at www.cytosorbents.com and
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, 2021, 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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Investor Relations Contact:
Amy Vogel
Investor Relations
(732) 398-5394
avogel@cytosorbents.com
Public Relations Contact:
Eric
Kim
Rubenstein Public Relations
212-805-3052
ekim@rubensteinpr.com
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SOURCE CytoSorbents Corporation