DGAP-News: CytoSorbents Appoints Dr. Rainer Kosanke as European Director of Scientific Affairs
(firmenpresse) - CytoSorbents
08.07.2013 15:00
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MONMOUTH JUNCTION, N.J., 2013-07-08 15:00 CEST (GLOBE NEWSWIRE) --
CytoSorbents Corporation (OTCBB:CTSO), a critical care focused company
commercializing its European Union approved CytoSorb(r) blood filter to treat
life-threatening illnesses in the intensive care unit, announced today that its
wholly-owned subsidiary, CytoSorbents Europe GmbH has appointed Dr. Rainer
Kosanke, PhD, as European Director of Scientific Affairs.
Dr. Kosanke was formerly the Head of Medical Marketing for Germany, Austria,
and Switzerland and Deputy Sales Director at B.R.A.H.M.S AG where he helped to
lead the market introduction and development of the now leading sepsis
biomarker in the world, procalcitonin (also known as PCT), from 2003-2009. PCT
has become the gold standard in Europe to both diagnose bacterial sepsis, and
to help guide the length of antibiotic treatment. In 2009, Thermo Fisher
Scientific acquired B.R.A.H.M.S. AG for $470 million, or 4.5 times 2008 revenue
of $105 million, based primarily on the potential worldwide market for PCT, but
also for biomarkers for cardiovascular disease and neurologic disorders. At
Thermo Fisher Scientific, Dr. Kosanke was in charge of coordinating a number of
large randomized controlled clinical trials using PCT and other sepsis
biomarkers under development, with combined target enrollment of more than
2,800 patients. Dr. Kosanke received his PhD from the Ernst-Moritz-Arndt
University of Greifswald, where he became an Associate Professor. He has
extensive expertise in inflammation, blood coagulation, the systemic
inflammatory response syndrome (SIRS, which includes sepsis), and biomarkers of
sepsis.
At CytoSorbents Europe GmbH, Dr. Kosanke will assume direct responsibility for
the ongoing CytoSorb(r) Dosing Study that is investigating the safety and
efficacy of longer blood purification treatment in severe sepsis or septic
shock patients with respiratory failure. He will also coordinate the growing
number of investigator-initiated studies, now more than ten, that will use
CytoSorb(r) in numerous treatment scenarios including sepsis, cardiac surgery,
pancreatitis, acute kidney injury, severe lung injury, liver failure and
others. This includes a recently announced 40 patient randomized controlled
trial investigating the ability of CytoSorb(r) to reduce key cytokines during and
after elective cardiopulmonary bypass (CPB) surgery, when used in parallel to
the CPB circuit, at the Medical University of Vienna. Dr. Kosanke will also be
responsible for establishing an international patient registry for CytoSorb(r)
treatments.
Dr. Christian Steiner, Vice President of Sales and Marketing of CytoSorbents
Corporation, and a Managing Director of CytoSorbents Europe GmbH, stated, 'We
are pleased to welcome Rainer to the CytoSorbents Europe team. His deep
understanding of the cytokine-driven inflammatory cascade, and how it impacts
organ injury in life-threatening illnesses combined with his experience
introducing a sepsis diagnostic tool to key opinion leaders in our direct sales
territory is a perfect fit for our company. In addition, his background in
managing clinical trials at Thermo Fisher will be invaluable as we expand the
clinical experience with CytoSorb(r).'
Dr. Kosanke commented, 'New technologies offer an excellent opportunity to
improve the treatment of critically ill patients. For example, the development
of new diagnostics such as PCT has led to a more rapid diagnosis of sepsis with
improved antibiotics management. Now we need to focus on developing better
treatments to improve patient outcomes in sepsis and other serious illnesses.
In Germany alone, more than 60,000 patients die each year from complications of
sepsis.'
Dr. Kosanke continued, 'I believe that the elimination of inflammatory
substances such as cytokines with CytoSorb(r) can substantially improve the
treatment of patients with SIRS, and is the right approach to help reduce organ
dysfunction and failure. I am excited to have the opportunity to contribute to
this innovative company, and advance CytoSorb(r) therapy in Europe.'
About CytoSorbents Corporation
CytoSorbents is a critical care-focused therapeutic device company using blood
purification to modulate the immune system - with the goal of preventing or
treating multiple organ failure in life-threatening illnesses. Organ failure is
the cause of nearly half of all deaths in the intensive care unit, with little
to improve clinical outcome. CytoSorb(r), the Company's flagship product, is
approved in the European Union as a safe and effective extracorporeal cytokine
filter, designed to reduce the 'cytokine storm' that could otherwise cause
massive inflammation, organ failure and death in common critical illnesses such
as sepsis, burn injury, trauma, lung injury, and pancreatitis. These are
conditions where the mortality is extremely high, yet no effective treatments
exist. 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.
CytoSorbents has numerous products under development based upon this unique
blood purification technology, protected by 32 issued US patents and multiple
applications pending, including HemoDefend(tm), ContrastSorb, DrugSorb, and
others. Additional information is available for download on the Company's
website: http://www.cytosorbents.com
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. Forward-looking statements in this press release are not
promises or guarantees and are subject to risks and uncertainties that could
cause our actual results to differ materially from those anticipated. These
statements are based on management's current expectations and assumptions and
are naturally subject to uncertainty and changes in circumstances. We caution
you not to place undue reliance upon any such forward-looking statements.
Actual results may differ materially from those expressed or implied by the
statements herein. Risk factors are detailed in the Company's Form 10-K filed
with the SEC on April 3, 2013, which is available at http://www.sec.gov.
CONTACT: Company Contact:
CytoSorbents Corporation
Dr. Phillip Chan
Chief Executive Officer
(732) 329-8885 ext. *823
pchan(at)cytosorbents.com
Investor Contact:
Alliance Advisors, LLC
Alan Sheinwald
(914) 669-0222
asheinwald(at)allianceadvisors.net
Valter Pinto
(914) 669-0222 x201
valter(at)allianceadvisors.net
Media Contact:
JQA Partners
Jules Abraham
(917) 885-7378
jabraham(at)jqapartners.com
News Source: NASDAQ OMX
08.07.2013 Dissemination of a Corporate News, transmitted by DGAP -
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The issuer is solely responsible for the content of this announcement.
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Language:English
Company: CytoSorbents
United States
Phone:
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Internet:
ISIN: US23283X1072
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End of Announcement DGAP News-Service
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