Company Press Releases Back
CytoSorbents, Inc. Recognized as "Company Most Likely to Succeed" at the 2009 New Jersey Venture Conference and Provides Clinical Update
Monday March 30, 2009, 1:13 pm EDT
MONMOUTH JUNCTION, NJ--(MARKET WIRE)--Mar 30, 2009 -- CytoSorbents, Inc., the wholly-owned operating subsidiary of MedaSorb Technologies Corporation (OTC BB:MSBT.OB - News), announced it was chosen as "Company Most Likely to Succeed" by independent judges at the 2009 New Jersey Technology Council Venture Conference on March 27, 2009. The Company was one of 60 healthcare and technology companies presenting at the conference who were eligible for this coveted all-around award. "We feel extremely honored to have received this award, particularly against such solid competition," stated Dr. Phillip Chan, CEO. "It is especially gratifying that others recognize the significant value we are building and the potential of our technology to treat severe sepsis, one of the top medical causes of death in the world. We are committed to increasing shareholder value by making significant progress on key milestones and objectives, including our European Sepsis Trial. Among other means, we will continue to foster increased awareness of our Company through venues such as the New Jersey Technology Council Venture Conference and the In3 West Conference that we presented at in early March. Our story has been getting stronger and has been well-received because it is based on compelling science and our unique CytoSorb(TM) blood purification technology."
CytoSorbents provides the following clinical update on its current European Sepsis Trial:
-- Twenty-two patients have been enrolled to date from three trial sites.
-- Recruitment is now expected to accelerate with a current total of ten
initiated clinical sites.
-- The CytoSorb(TM) treatment has been well-tolerated by patients and
easily administered by hospital staff on standard dialysis equipment.
-- There have been no serious device related adverse events associated
with CytoSorb(TM) treatment in more than 450 human treatments,
approximately 90 of which have been in septic patients.
-- The Company continues to expect trial completion in 2009 with the goal
of CE Mark approval and initial commercial sales in Europe next year.
The Company is currently upgrading its websites (www.medasorb.com and www.cytosorbents.com) and plans to have updated investor materials available for download in the near future. These materials are available now by email request at firstname.lastname@example.org
About MedaSorb, CytoSorbents and CytoSorb(TM)
MedaSorb Technologies Corporation, with its wholly-owned operating subsidiary, CytoSorbents, Inc., is a medical device company focused on the treatment of severe sepsis with its proprietary CytoSorb(TM) resin. Severe sepsis afflicts an estimated 18 million people worldwide each year, killing one in every three patients, despite the best medical treatment. CytoSorb(TM) is designed to treat sepsis by broadly reducing cytokines and toxins from blood that can cause organ failure and potentially death. After a patient's blood is pumped through a CytoSorb(TM) cartridge, cytokines and toxins are adsorbed and removed by the resin. Treated blood is then returned to the patient. The Company is currently evaluating CytoSorb(TM) in its randomized, controlled, open-label European Sepsis Trial in up to 80 patients with severe sepsis and respiratory failure. MedaSorb has also developed a number of different resins using its platform technology. These were designed for a variety of potential healthcare applications including, for example, improved hemodialysis, cytokine removal in inflammatory disorders, and drug removal or detoxification.
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. Forward-looking statements in this press release are not promises or guarantees and are subject to risks and uncertainties that could cause our actual results to differ materially from those anticipated. These statements are based on management's current expectations and assumptions and are naturally subject to uncertainty and changes in circumstances. We caution you not to place undue reliance upon any such forward-looking statements. Actual results may differ materially from those expressed or implied by the statements herein. MedaSorb Technologies Corporation believes that its primary risk factors include, but are not limited to: obtaining government approvals including required FDA approvals; ability to successfully develop commercial operations; dependence on key personnel; acceptance of the Company's medical devices in the marketplace; the outcome of pending and potential litigation; compliance with governmental regulations; reliance on research and testing facilities of various universities and institutions; the ability to obtain adequate financing in the future when needed; product liability risks; limited manufacturing experience; limited marketing, sales and distribution experience; market acceptance of the Company's products; competition; unexpected changes in technologies and technological advances; and other factors detailed in the Company's Form 10-KSB filed with the SEC on April 15, 2008, which is available at://www.sec.gov. http://www.sec.gov.
Contact:MedaSorb Technologies Corporation
(732) 329-8885 ext. 816
Source: MedaSorb Technologies