MONMOUTH JUNCTION, N.J., Oct. 10, 2014 /PRNewswire/ -- CytoSorbents Corporation (CTSO) is proud to announce that it was named the Health sector winner at the 2014 GREAT Tech Awards Gala last evening. Sponsored by United Kingdom Trade & Investment and the British Consulate General New York, the GREAT Tech Awards selected one winner in each of six categories from a pool of 120 high growth companies from New York, New Jersey, Pennsylvania and Connecticut.
United Kingdom Secretary of State for Foreign and Commonwealth Affairs, Philip Hammond stated, "The GREAT Tech Awards reflect the British government's commitment to helping the best and brightest American tech companies to expand across the Atlantic."
CytoSorbents was recognized for its innovative and potentially revolutionary blood purification technology, CytoSorb®, designed to help treat deadly inflammation in patients with life-threatening conditions such as sepsis, trauma, burn injury, lung injury, and others in the intensive care unit. Left unchecked, this uncontrolled inflammation can lead to multiple organ failure, the cause of nearly half of all deaths in the ICU today. CytoSorb® reduces "cytokine storm" and other inflammatory toxins that fuel the fire of inflammation, with the goal of preventing or treating organ failure, thereby saving lives while reducing the massive costs of ICU care. CytoSorb® is approved in all 28 countries of the European Union, including the U.K. and Ireland, and marketed in 19 countries worldwide.
Dr. Phillip Chan, Chief Executive Officer of CytoSorbents stated, "It is a tremendous honor for our company to have won this award, particularly amongst so many other exciting and accomplished companies. We thank the organizers and distinguished panel of judges of the GREAT Tech Awards for recognizing our unique technology and our efforts to save the lives of those greatest in need. We are also thankful for the growing support of CytoSorb® amongst physicians and others in the medical community who are working with us to achieve this common goal."
In addition to the recognition as one of the most promising healthcare companies in the region, CytoSorbents will receive business strategy, business development, accounting, legal, and employee recruitment assistance to facilitate its further market penetration into the U.K. market with distribution partner LINC Medical Systems Ltd.
About CytoSorbents Corporation
CytoSorbents Corporation is a critical care immunotherapy company using blood purification to modulate inflammation -- with the goal of preventing or treating multiple organ failure in life-threatening illnesses. Organ failure is the cause of nearly half of all deaths in the intensive care unit, with little to improve clinical outcome. CytoSorb®, the Company's flagship product, is approved in the European Union as a safe and effective extracorporeal cytokine adsorber, designed to reduce the "cytokine storm" that could otherwise cause massive inflammation, organ failure and death in common critical illnesses such as sepsis, burn injury, trauma, lung injury, and pancreatitis. 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 try to remove inflammatory mediators, such as cytokines and free hemoglobin, which can lead to post-operative complications, including multiple organ failure.
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. CytoSorbents has numerous products under development based upon this unique blood purification technology, protected by 32 issued US patents and multiple applications pending, including HemoDefend™, ContrastSorb, DrugSorb, and others. Additional information is available for download on the Company's website: http://www.cytosorbents.com/
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. Risk factors are detailed in the Company's Form 10-K filed with the SEC on March 31, 2014, which is available at http://www.sec.gov.
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