MONMOUTH JUNCTION, N.J., June 22, 2016 /PRNewswire/
-- CytoSorbents Corporation (NASDAQ: CTSO), a leader in critical care immunotherapy specializing in blood purification,
announced that it was awarded a $150,000 Phase I Small Business Technology Transfer (STTR) contract
to develop blood purification technologies that may enable universal plasma. A successful Phase I effort will position the
company to be competitive for selection in the Phase II STTR program, valued at more than $1
million.
Dr. Phillip Chan, MD, PhD, Chief Executive Officer of CytoSorbents stated: "We are pleased to
announce initial funding to expand our HemoDefend™ purification technology platform for blood transfusion products. Plasma is a
core component of whole blood that contains many essential proteins such as albumin and coagulation factors. It is often
used to expand blood volume and restore the ability of blood to clot in many serious illnesses such as trauma and massive
hemorrhage, shock, liver disease, severe burn injury, sepsis, and other conditions. It is also used in plasma exchange
procedures to treat autoimmune diseases. More than 10,000 units of fresh frozen plasma are administered each day, or more than
3.6 million units per year, in the United States alone."
Dr. Chan continued, "With the exception of Type AB plasma, plasma typically requires blood-type matching with the patient to
prevent incompatibilities and reduce the risk of major transfusion reactions. Because Type AB plasma lacks blood type-specific
antibodies, it is called 'universal plasma' and can be readily administered to patients in emergency situations, making logistics
fairly straightforward for both military and civilian applications. However, there are not enough Type AB plasma donors to
supply current demand. Under this Phase I STTR program, we plan to adapt our HemoDefend™ technology to remove these blood-type
specific antibodies from all blood-type plasmas and demonstrate the proof-of-concept production of a true 'universal
plasma'. In doing so, we hope to alleviate a major bottleneck in the availability of plasma to help address these major
unmet medical needs."
This work is being funded by the U.S. Army Medical Research Acquisition Activity (USAMRAA) under contract
W81XWH-16-C-0025.
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 34 countries around the world, as a safe and effective
extracorporeal cytokine adsorber, designed to reduce the "cytokine storm" or "cytokine release syndrome" that could otherwise
cause massive inflammation, organ failure and death in common critical illnesses such as sepsis, burn injury, trauma, lung
injury, and pancreatitis, as well as in cancer immunotherapy. 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. CytoSorb® has been used safely in more than 12,000 human treatments to date.
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. The Company has numerous products
under development based upon this unique blood purification technology, protected by 32 issued U.S. patents and multiple
applications pending, including HemoDefend™, ContrastSorb, DrugSorb, and others. Additional information is available for
download on the Company's websites: http://www.cytosorbents.com and http://www.cytosorb.com
Forward-Looking Statements
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"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, 2016, 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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SOURCE CytoSorbents Corporation