MedaSorb Technologies Corporation announced yesterday that they have formally changed their company name to CytoSorbents Corporation. Along with this corporate name change, the new ticker symbol for the Company will be CTSO.OB, effective at the open of business on Friday, May 7, 2010. MedaSorb Technologies Corporation formerly traded under the symbol MSBT.OB.
CytoSorbents Corporation, and their operating subsidiary CytoSorbents, Inc., is a therapeutic device company. They are in clinical trials to treat severe sepsis with a novel blood purification device called CytoSorb™. Severe sepsis often goes by the name “overwhelming infection.”
The triggering of severe sepsis is usually by bacterial infections like pneumonia, or viral infections like influenza. The body’s abnormal immune response to the trigger leads to the unregulated, massive production of cytokines. Often this goes by the name “cytokine storm.” Consequently, this causes severe inflammation, organ failure and often death.
CytoSorb™ is a cartridge containing highly porous polymer beads. The design of these beads is to filter cytokines and treat potentially fatal cytokine storm. With the pumping of blood through the CytoSorb™ cartridge using standard dialysis equipment, the beads bind and remove cytokines and other toxins from blood. Subsequently, the treated blood returns to the patient.
CytoSorbents Corporation is currently conducting their European Sepsis Trial. This is a multi-center, randomized, controlled clinical trial using CytoSorb™ to treat up to 100 patients with severe sepsis in the setting of respiratory failure. The Company will seek CE Mark approval and commercialization of CytoSorb™ in the European Union, pending a successful trial.
Founded in 1997 and headquartered in Monmouth Junction, New Jersey, CytoSorbents Corporation also has their BetaSorb™. The design of BetaSorb™ is as an adjunctive treatment to traditional high-flux hemodialysis for the treatment of chronic kidney failure. The BetaSorb™ technology targets middle molecular weight toxins not cleared well by hemodialysis.