MONMOUTH JUNCTION, N.J.,
May 11, 2021 /PRNewswire/
-- CytoSorbents Corporation (NASDAQ: CTSO), a critical
care leader commercializing its CytoSorb® and other blood
purification technologies to treat deadly conditions in
critically-ill and cardiac surgery patients around the world,
announced the U.S Army Medical Research and Development Command has
awarded CytoSorbents a Defense Health Agency (DHA) Sequential Phase
II Small Business Innovation Research (SBIR) contract, valued at
$1,499,987 over 28 months, to advance
development of the K+ontrol™ platform for the treatment
of severe hyperkalemia induced by traumatic injury and acute kidney
injury in austere medicine. This follows the successful
completion of the previously announced Phase I and Phase II SBIR
programs for this application, totaling approximately $1.15 million in previous contract funding.
CytoSorbents Awarded $1.5M SBIR U.S.
Army Contract to Protect Wounded Warfighters From Deadly
Complication of Trauma
Dr. Phillip Chan, MD, PhD, Chief
Executive Officer of CytoSorbents stated, "We greatly appreciate
the continued support of the Defense Health Agency and U.S. Army of
our innovative sorbent treatments for life-threatening hyperkalemia
in severe trauma patients. Together with our collaborators,
we have made excellent progress in developing potassium-lowering
therapies that can be implemented by a medic without electricity,
and have the potential to save lives in many scenarios where
standard dialysis is not possible. We look forward to
advancing these technologies to clinical usage to help our wounded
warfighters and other mass casualty trauma victims."
Trauma and crush injury to soft tissue can lead to rapid cell
death and the release of a flood of intracellular potassium into
the bloodstream. In compromised patients, very high levels of
potassium in the blood, or severe hyperkalemia, can lead to
dangerously irregular heartbeats called arrhythmias, and sudden
cardiac death. This is particularly common in combat casualties,
everyday civilian trauma, and mass casualty events such as
earthquakes and terrorist bombings. Normally, hemodialysis is
the definitive therapy to treat hyperkalemia. However, in
remote locations, during prolonged field care in combat, in areas
that lack modern medical facilities, or in situations where the
numbers of victims outstrip available dialysis equipment and
supplies, there is a major need for simple, but effective ways to
rapidly treat severe hyperkalemia.
This Defense Health Agency Sequential Phase II SBIR contract is
administered by the United States Army Medical Research and
Development Command (USAMRDC), and supporting acquisition office,
the U.S. Army Medical Research Acquisition Activity (USAMRAA)
under Contract No. W81XWH21C0045. The views, opinion and/or
findings contained in this press release are those of the author(s)
and should not be construed as an official Department of the Army
position, policy or decision unless so designated by other
documentation. In conducting research using animals, the
investigator(s) adhered to the Animal Welfare Act Regulations and
other Federal statutes relating to animals and experiments
involving animals and the principles set forth in the current
version of the Guide of Care and Use of Laboratory Animals,
National Research Council.
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 67 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.
Please Click to Follow Us on Facebook and Twitter
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
View original content to download
multimedia:http://www.prnewswire.com/news-releases/cytosorbents-awarded-1-5-million-sequential-phase-ii-sbir-contract-to-advance-the-treatment-of-severe-hyperkalemia-in-traumatic-injury-301288627.html
SOURCE CytoSorbents Corporation