MONMOUTH JUNCTION, N.J., Feb. 5, 2019 /PRNewswire/ -- CytoSorbents Corporation (NASDAQ: CTSO), a critical care immunotherapy leader commercializing its CytoSorb® blood purification technology to treat deadly inflammation in critically-ill and cardiac surgery patients around the world, announced that its Chief Executive Officer, Dr. Phillip Chan, MD, PhD, will present at the 21st Annual BIO CEO & Investor Conference next week in New York City.
Dr. Chan stated, "CytoSorb is approved in the European Union with distribution in 55 countries worldwide, and has been used in more than 56,000 human treatments to help control deadly inflammation in a wide variety of life-threatening inflammatory conditions such as sepsis and infection, influenza, trauma, liver failure, lung injury, cytokine release syndrome in cancer immunotherapy, and complications of surgery. Sales of CytoSorb grew by approximately 50% in 2018 to more than $20 million, with healthy blended product gross margins of 72%."
"We believe we are in the early stages of what could be a significant multi-year growth story, with a biotech-sized opportunity and the lower risk profile of a medical device company with rapidly growing sales and high gross margins."
Currently, the management team will be available on February 11-12th for one-on-one meetings with investors. To schedule a meeting, please use the BIO CEO One-on-One meeting portal for registered participants. An archived version of the webcast will be available 1 hour after the presentation.
About BIO and the BIO CEO & Investor Conference
BIO, the Biotechnology Innovation Organization, is the world's largest trade association representing biotechnology companies, academic institutions, state biotechnology centers and related organizations across the United States and in more than 30 other nations. BIO members are involved in the research and development of innovative healthcare, agricultural, industrial and environmental biotechnology products. BIO also produces the BIO International Convention, the world's largest gathering of the biotechnology industry, along with industry-leading investor and partnering meetings held around the world.
The 21st Annual BIO CEO & Investor Conference is one of the largest investor conferences that assemble a select group of established biotech companies, as well as top public and private equity investors and members of the sell-side investment community, to explore the current investment landscape and opportunities in life sciences. In addition to plenary sessions and panel discussions on timely business topics and key therapeutic areas, the conference features presentations and one-on-one meetings with over 150 leading biotechnology and pharmaceutical companies, as well as a number of nonprofit and venture philanthropy organizations.
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 55 countries around the world, as an 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. 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 that can lead to post-operative complications, including multiple organ failure. CytoSorbents is conducting its pivotal REFRESH 2-AKI trial – a multi-center, randomized controlled, clinical trial intended to support U.S. regulatory approval of CytoSorb for use in a heart-lung machine during complex cardiac surgery to reduce organ injury. CytoSorb® has been used in more than 56,000 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. Its technologies have received non-dilutive grant, contract, and other funding of nearly $26 million from DARPA, the U.S. Army, the U.S. Department of Health and Human Services, the National Institutes of Health (NIH), National Heart, Lung, and Blood Institute (NHLBI), U.S. Special Operations Command (USSOCOM), and others. The Company has numerous products under development based upon this unique patented blood purification technology including CytoSorb-XL™, HemoDefend™, VetResQ™, K+ontrol™, ContrastSorb, DrugSorb, and others. For more information, please visit the Company's websites at www.cytosorbents.com and www.cytosorb.com and follow us on Facebook and Twitter
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