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MONMOUTH JUNCTION, N.J.,
Sept. 24, 2012 /PRNewswire/ -- CytoSorbents Corporation (OTCBB: CTSO), a critical care focused company using blood purification to treat life-threatening illnesses such as sepsis, trauma, and burn injury, announced that, after a competitive process, the US Army Medical Research and Materiel Command has selected the Company's Phase II SBIR (Small Business Innovation Research) proposal for funding. This follows the successful completion of a previously funded
$100,000 Phase I US Army SBIR award. The current one year program is valued up to
$1 million, with an additional option for a
$50,000 Phase I extension, and is contingent upon finalizing the award contract, continued availability of federal funding, and achievement of certain milestones. The Phase II SBIR award is a pre-requisite to apply for a Phase III SBIR award that would help to fund and accelerate human clinical testing in the area of burn injury and/or trauma.
Phillip Chan, Chief Executive Officer, stated "We are delighted to have the opportunity to continue our collaboration with the US Army, and have now also garnered interest from the US Air Force. As part of this Phase II SBIR program, we have expanded the scope of the project to evaluate the use of CytoSorb® and newly developed technologies to treat both trauma and burn and smoke inhalation injury in large animal models. These potentially life-threatening conditions are some of the most common injuries across all branches of the military as well as the general population. They involve a massive whole body inflammatory response that puts the patient at high risk of developing serious complications such as lung injury, kidney failure, other organ dysfunction, infection and death. Existing therapies are predominantly supportive care, and do little to prevent or treat these dangerous complications. CytoSorb®, and other products built around our blood purification platform technology, are well-suited to address these issues directly and may hopefully play a significant role in improving clinical outcome for our warfighters and civilians in the future."
About CytoSorbents, CytoSorb®, and HemoDefend
CytoSorbents Corporation is a critical care focused therapeutic device company using blood purification to modulate the immune system and fight multi-organ failure in life-threatening illnesses. Its purification technology is 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. In 2011, CytoSorb®, the Company's flagship product, achieved European regulatory approval as an extracorporeal cytokine filter, and can now be sold throughout the European Union (E.U.) under the CE Mark to be used in clinical situations where cytokines are elevated. The goal of CytoSorb® is to modulate the immune system by reducing "cytokine storm" in critically-ill patients that could otherwise lead to deadly inflammation, multiple organ failure, immune dysfunction, and often death in common illnesses such as sepsis, trauma, burn injury, acute respiratory distress syndrome, and pancreatitis. CytoSorb® has demonstrated statistically significant reductions in mortality in septic patients at high risk of death in early studies and is now being sold in
Germany for the treatment of critical care illnesses, with availability in other E.U. countries planned in the future, assuming adequate and timely funding, and continued positive results from clinical studies.
HemoDefend is a development-stage blood purification technology platform for the blood transfusion industry intended to reduce transfusion reactions and safeguard the quality and safety of the blood supply. The HemoDefend technology utilizes the Company's polymer bead technology to remove many substances, such as antibodies, free hemoglobin and inflammatory mediators that can cause potentially serious and sometimes fatal transfusion reactions.