MONMOUTH JUNCTION, N.J., July 30, 2021 /PRNewswire/ -- CytoSorbents Corporation (NASDAQ: CTSO), a leader in the treatment of life-threatening conditions in intensive care and cardiac surgery using blood purification via its proprietary polymer adsorption technology, announces the successful completion of its MISSION 100,000 international fundraising campaign to fight the spread of COVID-19, raising $100,000 to benefit the global, not-for-profit humanitarian organization, CARE. The funds raised for CARE's Crisis Response Campaign enable the organization to provide various vaccination, education, sanitation, and disinfectant initiatives around the world to prevent the spread of COVID-19. CytoSorbents will present CARE its donation at the Opening Bell ceremony at NASDAQ later this morning.
The campaign commemorates a major Company milestone achieved last year of cumulatively shipping more than 100,000 CytoSorb® blood purification cartridges worldwide to treat deadly inflammation, such as seen in severe COVID-19 infection. That number has since grown to more than 131,000 cartridges, including those used to treat more than 6,000 COVID-19 patients across more than 30 countries, including the U.S.
Dr. Phillip Chan, Chief Executive Officer of CytoSorbents stated, "On behalf of the Company, I would like to thank all of our friends, business partners, colleagues, employees, and shareholders for your generous donations, enabling us to match your support and fullfill our pledge to raise $100,000 to support CARE's COVID-19 Emergency Fund. With the rise in new COVID-19 cases caused by new highly contagious coronavirus variants, these funds will no doubt be put to good use. We are proud to support CARE and the global fight against the COVID-19 pandemic in communities here in the U.S., in Europe, and worldwide."
Michelle Nunn, CARE USA President and CEO stated, "As COVID has impacted the lives of hundreds of millions of marginalized people around the world, CARE's life-saving work has never been more important. We want to thank our partners at CytoSorbents for contributing and raising funds for CARE's Crisis Response Campaign, helping ensure access to personal protective equipment, medical care, and health education to prevent and slow COVID's spread. Getting past this pandemic is going to take all of us uniting in a global effort, and corporate partnerships like this help demonstrate we're in this together."
CARE is making a positive difference in the COVID-19 pandemic
For 75 years, CARE has worked around the globe to save lives, defeat poverty, achieve social justice, and create better lives for many of the world's most vulnerable people. CARE's Crisis Response Campaign continues to play a central role in combating the pandemic, providing vaccine access, clean water, food, financial assistance, disease prevention education, hand washing stations, and care packages, consisting of masks, soap, detergent, water canisters, and disinfectant to families, emergency shelters, and refugee camps across 69 countries to date. In addition, the Fund has financed mass media campaigns reaching nearly 216 million people with information on COVID-19 prevention and services, including public service announcements encouraging vaccination.
CytoSorbents Corporation is a leader in the treatment of life-threatening conditions in intensive care and cardiac surgery using blood purification. Its flagship product, CytoSorb® is approved in the European Union with distribution in 68 countries around the world, as an extracorporeal cytokine adsorber designed to reduce the "cytokine storm" or "cytokine release syndrome" seen in common critical illnesses that may result in massive inflammation, organ failure, and patient death. These are conditions where the risk of death can be extremely high, yet few to 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. More than 131,000 CytoSorb devices have been delivered to date. CytoSorb was originally introduced into the European Union under CE-Mark as a first-in-kind cytokine adsorber. Additional CE-Mark label expansions were received for the removal of bilirubin and myoglobin in clinical conditions such as liver disease and trauma, respectively, 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. CytoSorbents' technology has also been granted FDA Breakthrough Designation for the removal of ticagrelor in a cardiopulmonary bypass circuit during emergent and urgent cardiothoracic surgery, and if FDA marketing approval is obtained, would be marketed as DrugSorb-ATR™ in the United States.
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 marketed products and products under development based upon this unique blood purification technology protected by many issued U.S. and international patents and registered trademarks, and multiple patent applications pending, including ECOS-300CY®, CytoSorb-XL™, HemoDefend-RBC™, HemoDefend-BGA™, VetResQ®, K+ontrol™, DrugSorb™, DrugSorb-ATR™, 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.
Founded in 1945 with the creation of the CARE Package®, CARE is a leading humanitarian organization fighting global poverty. CARE places special focus on working alongside poor girls and women because, equipped with the proper resources, they have the power to lift whole families and entire communities out of poverty. Last year, CARE worked in over 100 countries, reaching more than 90 million people through 1,300 projects. To learn more, visit www.care.org.
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.