MONMOUTH JUNCTION, N.J., April 14, 2015 - CytoSorbents Corporation (CTSO), a critical care immunotherapy company using blood purification to treat deadly inflammation in critically-ill and cardiac surgery patients, announced that Dr. Phillip Chan, MD, PhD, Chief Executive Officer of CytoSorbents, will make a corporate presentation at the 14th Annual Needham Healthcare Conference at the Westin NY Grand Central Hotel in New York City, New York.
Dr. Chan will present from 5:00–5:40PM EDT on Wednesday, April 15, 2015. He will be joined by Ms. Kathleen Bloch, Chief Financial Officer, during the day for pre-scheduled one-on-one meetings with institutional investors. A live audio webcast of the presentation will be available at http://wsw.com/webcast/needham71/ctso. An archived version of the webcast will be available at http://www.cytosorbents.com/invest.htm for 90 days.
The Company's flagship product, CytoSorb®, is the only specifically approved extracorporeal cytokine adsorber in Europe, targeting the reduction of cytokines and other inflammatory mediators from blood that drive deadly inflammation in life-threatening illnesses seen in the intensive care unit, and in complex cardiac surgery. CytoSorb® generated $3.1 million in sales in 2014, an increase of 281% from 2013, with product gross margins of 63%. CytoSorbents has established distribution of CytoSorb® in 29 countries around the world, through a combination of direct sales, independent distributor sales, as well as partnerships with major international companies such as Fresenius Medical Care, the world's largest dialysis company, Biocon Ltd, Asia's largest biotechnology company, and one of the largest global cardiac surgery companies.
Needham's Healthcare Conference focuses on connecting leading emerging life science companies and institutional investors. This year, senior management teams from approximately 100 companies in the biotechnology, specialty pharmaceutical, medical technology and diagnostic sectors have been invited and scheduled to present.
About CytoSorbents Corporation
CytoSorbents Corporation is a critical care focused immunotherapy company using blood purification to control severe 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 with distribution in 29 countries around the world, as a safe and effective extracorporeal cytokine filter, 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 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 and at www.cytosorb.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. 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 31, 2015, 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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