PRINCETON, N.J., July 17, 2024 (GLOBE NEWSWIRE) -- CytoSorbents Corporation (NASDAQ: CTSO), a leader in the treatment of life-threatening conditions in the intensive care unit and cardiac surgery using blood purification via its proprietary polymer adsorption technology, announces it will present at the 1st Annual American Association of Physicians of Indian Origin (AAPI) World Health Congress, taking place on July 18-22, 2024 at the Mariott Marquis Hotel in New York, NY. This event will host over 3,000 physicians, healthcare professionals, and leaders from across the world for a dynamic exchange of ideas and a collaborative effort to shape the future of healthcare on a global scale. Dr. Phillip Chan, Chief Executive Officer of CytoSorbents, will make a company presentation to the audience and was invited to separately participate in a panel discussion entitled “Convergence of Artificial Intelligence (AI) in Healthcare” on Saturday, July 20, 2024.
Dr. Chan commented, “I am pleased to have an opportunity to discuss, with my medical colleagues at AAPI, the important role that CytoSorb® and our other blood purification technologies are playing in the treatment of critically ill and cardiac surgery patients around the world. I am particularly excited to increase the awareness of CytoSorbents and our therapies amongst so many innovators in so many different fields of medicine.”
Dr. Chan continued, “In addition, I look forward to sharing some thoughts during the panel discussion on how artificial intelligence can impact the field of critical care – one of the most challenging and costly areas of medicine today. For example, although AI is currently the prevailing buzz word, back in 2012 we were selected by the U.S. Defense Advanced Research Projects Agency (DARPA) as part of an academic and industry consortium to participate in its ambitious Dialysis-Like Therapeutics program to treat sepsis – the overwhelming immune response to an infection that is responsible for one in every five deaths worldwide each year. At that time, DARPA was already looking to develop a “smart” machine that could diagnose sepsis and its various causes, and selectively implement blood purification to remove the offending agents such as pathogens, cytokines, and bacterial toxins, to treat the disease. As part of the initial selection process, CytoSorbents and major industry collaborators in critical care that had access to an abundance of real-time patient data, worked together to propose a system that could not only diagnose and treat the disease, but could also correlate physiologic responses and clinical outcomes data, and through machine learning and AI, learn how to improve treatment with each successive patient. Although AI technology and computing power were not sufficient back then to do this effectively, it is a much different story today. This is just one of a number of exciting potential applications of AI in critical care that we see in the future.”
Founded in 1982, the AAPI represents a conglomeration of more than 80,000 practicing physicians, and serves as a platform for more than 40,000 medical students, residents and fellows of Indian origin in the United States. Its mission is to facilitate and enable Indian American Physicians to excel in patient care, teaching and research and to pursue their aspirations in professional and community affairs. According to AAPI, its members represent about 10% of all physicians in the United States and service approximately 30% of the U.S. patient population.
About CytoSorbents Corporation (NASDAQ: CTSO)
CytoSorbents Corporation is a leader in the treatment of life-threatening conditions in the intensive care unit and in cardiac surgery through blood purification. Its lead product, CytoSorb®, is approved in the European Union and distributed in 75 countries worldwide. It is an extracorporeal cytokine adsorber that reduces “cytokine storm” or “cytokine release syndrome” in common critical illnesses that can lead to massive inflammation, organ failure and patient death. In these diseases, the risk of death can be extremely high, and there are few, if any, effective treatments. CytoSorb is also used during and after cardiothoracic surgery to remove antithrombotic drugs and inflammatory mediators that can lead to postoperative complications, including severe bleeding and multiple organ failure. As of March 31, 2024, more than 237,000 CytoSorb devices have been used cumulatively. CytoSorb was originally launched in the European Union under CE mark as the first cytokine adsorber. Additional CE mark extensions were granted for bilirubin and myoglobin removal in clinical conditions such as liver disease and trauma, respectively, and for ticagrelor and rivaroxaban removal in cardiothoracic surgery procedures. CytoSorb has also received FDA Emergency Use Authorization in the United States for use in adult critically ill COVID-19 patients with impending or confirmed respiratory failure. CytoSorb is not yet approved in the United States.
The DrugSorb™-ATR antithrombotic removal system, an investigational device based on the same polymer technology as CytoSorb, has received two FDA Breakthrough Device Designations, one for the removal of ticagrelor and another for the removal of the direct oral anticoagulants (DOAC) apixaban and rivaroxaban in a cardiopulmonary bypass circuit during urgent cardiothoracic procedures. The Company has completed the FDA-approved, randomized, controlled STAR-T (Safe and Timely Antithrombotic Removal-Ticagrelor) study of 140 patients at approximately 30 centers in U.S. and Canada to evaluate whether intraoperative use of DrugSorb-ATR can reduce the perioperative risk of bleeding in patients receiving ticagrelor and undergoing cardiothoracic surgery. This pivotal study is intended to support U.S. FDA and Health Canada marketing approval for DrugSorb-ATR in this application.
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 approximately $50 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™, 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 X.
Forward-Looking Statements
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, future targets and outlooks for our business, statements about potential exposures resulting from our cash positions, 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 14, 2024, 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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U.S. Company Contact:
Kathleen Bloch, CFO
305 College Road East
Princeton, NJ 08540
+1 (732) 398-5429
kbloch@cytosorbents.com
Investor Relations Contact:
Eric Ribner
LifeSci Advisors, LLC
250 W 55th St, #3401
New York, NY 10019
+1 (646) 751-4363
ir@cytosorbents.com
