MONMOUTH
JUNCTION, N.J. , April 5,
2022 /PRNewswire/ -- CytoSorbents
Corporation (NASDAQ: CTSO), a leader in the treatment of
life-threatening conditions in the intensive care unit and cardiac
surgery using blood purification, announces the appointment of Ms.
Jiny Kim, MBA to CytoSorbents' Board
of Directors as a new independent director, effective immediately,
for a term expiring at the Company's 2022 Annual Meeting, scheduled
for June 7, 2022, at which time Ms.
Kim is expected to stand for re-election.
CytoSorbents Appoints Jiny Kim, MBA to its
Board of Directors
Al Kraus, Chairman of the Board
of CytoSorbents stated, "We are pleased to welcome Jiny as our new
independent Board director. She has an extensive background
in the medical device industry, with an impressive set of skills,
experiences, and perspectives in U.S. and international
commercialization, sales, marketing, and business development from
leadership roles at market-leading companies like Zimmer Biomet,
LivaNova, and Ethicon/Johnson & Johnson. She is expected
to further strengthen and diversify the Board at a critical
juncture for the Company as we target U.S. expansion and further
international growth, and be invaluable in helping to guide the
Company to the next level."
Jiny Kim is currently Vice
President, Smart Implants, Technology & Data Solutions at
Zimmer Biomet. In this role, she is responsible for
leading the end-to-end program and product management for Zimmer
Biomet's "Smart Implant" technology, including product development,
data development, and market development. In addition, she is
leading the launch of Persona IQ®, a first to market smart knee
implant in the U.S.
Prior to Zimmer Biomet, Ms. Kim held the position of Vice
President of Global Marketing, Neuromodulation and Depression at
LivaNova, where she led key initiatives in clinical and commercial
areas to maximize the asset value globally. At Ethicon,
Johnson & Johnson Medical Devices, she held multiple roles
including in U.S. Sales and Marketing, Business
Development (Licensing and Acquisition), and Strategic Global
Marketing where she launched and managed significant brands through
their full lifecycle. Ms. Kim also held multiple global
marketing roles at Edwards Lifesciences in the Critical Care
space. She began her medical device career as a post-MBA
Operating Room-based Clinical Sales Representative in the
Los Angeles territory for Ethicon
Biosurgery. Prior to her career in the medical device
industry, Ms. Kim held positions as a financial analyst in
private equity and in management consulting.
"I am thrilled to join the CytoSorbents Board of Directors
and to be part of a values-led company that is helping to save
lives with the use of its blood purification technology in critical
care and cardiac surgery. It is an honor to join the Board at
such a pivotal stage in the Company's history, and I am looking
forward to working with the Board and management to broaden access
to CytoSorbents' unique technology globally, and particularly in
the United States, the world's
largest medical device market," said Ms. Kim.
Dr. Phillip Chan, Chief Executive
Officer of CytoSorbents commented, "On behalf of the entire
Company, we are excited to add Jiny to the Board of Directors and
to benefit from her knowledge and keen insight on a wide variety of
topics. Of great relevance, Jiny is currently launching the
Persona IQ® Smart Knee™ implant in the U.S., which includes an FDA
Breakthrough Device Designated component, and will have timely and
valuable experience as we look to do the same with DrugSorb™‑ATR in
the U.S. upon completion of our pivotal U.S. STAR-T and STAR-D
trials, and potential future FDA marketing approval."
Ms. Kim earned her MBA from the MIT Sloan
School of Management and is a Fulbright Scholar. She
graduated Cum Laude with dual undergraduate degrees from the
University of Pennsylvania in Economics
(The Wharton School) and Political Science.
About CytoSorbents Corporation
(NASDAQ: CTSO)
CytoSorbents Corporation is a leader in the treatment of
life-threatening conditions in intensive care and cardiac surgery
using blood purification. Its flagship
product, CytoSorb®, is approved in the European Union with
distribution in more than 70 countries around the world as an
extracorporeal cytokine adsorber designed to reduce the "cytokine
storm" or "cytokine release syndrome" seen in common critical
illnesses that may result in massive inflammation, organ failure
and patient death. These are conditions where the risk of
death can be extremely high, yet few to no effective treatments
exist. CytoSorb is also being used during and after
cardiothoracic surgery to remove inflammatory mediators that can
lead to post-operative complications, including multiple organ
failure. More than 162,000 cumulative CytoSorb devices have
been utilized as of December 31,
2021. CytoSorb was originally introduced into the European
Union under CE-Mark as a first-in-kind cytokine adsorber.
Additional CE-Mark label expansions were received for the removal
of bilirubin and myoglobin in clinical conditions such as liver
disease and trauma, respectively, and
both ticagrelor and rivaroxaban during
cardiothoracic surgery. CytoSorb has also received FDA
Emergency Use Authorization in the United States for
use in adult critically ill COVID-19 patients with imminent or
confirmed respiratory failure. The DrugSorb™-ATR
Antithrombotic Removal System, which is based on the same polymer
technology as CytoSorb, has also been
granted FDA Breakthrough Designation for the removal
of ticagrelor, as well as FDA Breakthrough
Designation for the removal of the direct oral anticoagulant
(DOAC) drugs, apixaban and rivaroxaban, in a cardiopulmonary bypass
circuit during urgent cardiothoracic surgery. The Company has
initiated two FDA approved pivotal trials designed to support U.S.
marketing approval of DrugSorb-ATR. The first is the
120-patient, 20 center STAR-T (Safe
and Timely Antithrombotic Removal-Ticagrelor)
randomized, controlled trial evaluating the ability of
intraoperative DrugSorb-ATR use to reduce perioperative bleeding
risk in patients on ticagrelor undergoing cardiothoracic
surgery. The second is the 120-patient, 25
center STAR‑D (Safe
and Timely Antithrombotic Removal-Direct
Oral Anticoagulants) randomized, controlled trial, evaluating the
intraoperative use of DrugSorb–ATR to reduce perioperative bleeding
risk in patients undergoing cardiothoracic surgery on direct oral
anticoagulants, including apixaban and rivaroxaban.
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 marketed products and products under
development based upon this unique blood purification technology
protected by many issued U.S. and international patents and
registered trademarks, and multiple patent applications pending,
including ECOS-300CY®, CytoSorb-XL™, HemoDefend-RBC™,
HemoDefend-BGA™, VetResQ®, K+ontrol™, DrugSorb™,
DrugSorb™-ATR, 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, future targets and outlooks
for our business, expectations regarding the future impacts of
COVID-19 or the ongoing conflict between Russia and the Ukraine, 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 10, 2022, 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:
Terri Anne Powers
Vice President, Investor Relations
and Corporate Communications
(732) 482-9984
tpowers@cytosorbents.com
U.S. Public Relations Contact:
Eric Kim
Rubenstein Public Relations
212-805-3052
ekim@rubensteinpr.com
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SOURCE CytoSorbents Corporation