CytoSorbents Corporation (OTCBB: CTSO) is a critical-care focused therapeutic device company using blood purification to treat life-threatening illnesses. These are common, major conditions seen in the intensive care unit (ICU), such as sepsis and infection, severe trauma, burns, lung injury, and pancreatitis, that afflicts millions of people each year yet lacks effective therapies, leading to a mortality rate that often exceeds 30%. Failure of multiple organs, such as the lungs, heart, kidneys and liver, is the leading causes of death from these conditions, for which very little can be done today. Hospital acquired infections are another leading cause of death in the ICU. CytoSorbents is developing novel and advanced blood purification therapies designed to actively prevent, mitigate, or reverse the development of organ failure and infection, thereby potentially reducing illness severity and helping patients to heal and recover faster.
The Company announced that "it has established its wholly-owned European subsidiary, CytoSorbents Europe GmbH, with offices in Berlin, Germany. The subsidiary will manage distribution, sales and marketing, and customer support throughout Germany and other European countries."
"Setting up our European subsidiary with a physical office in Germany represents a key step and commitment towards the commercialization of CytoSorb™ in the European Union. This base of operations will enable us to be close to, and support interactions with customers and businesses in real-time, and will provide a central location for our sales and marketing efforts. We are excited to move forward with our strategy to make CytoSorb™, a first-in-class treatment of cytokine storm, available to patients and physicians in intensive care units throughout Europe."