Dr. Phillip Chan Named Finalist for Ernst & Young Entrepreneur of the Yearr 2012 Award in New Jersey; $CTSO

Dr. Phillip Chan Named Finalist for Ernst & Young Entrepreneur of the Yearr 2012 Award in New Jersey; $CTSO

CytoSorbents Corporation (OTCBB: CTSO) is a critical care-focused therapeutic device company using blood purification to treat 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 absorption.

The Company announced that its CEO, Dr. Phillip Chan, was named a finalist in the Ernst & Young Entrepreneur Of The Year® 2012 program in the New Jersey region. The award "recognizes outstanding entrepreneurs who have demonstrated excellence and extraordinary success in areas such as innovation, financial performance and personal commitment to their businesses and communities." An independent judging panel made up of previous winners, leading CEOs, private capital investors and other regional business leaders selected Dr. Chan as a finalist.

Dr. Chan has been CytoSorbents' CEO and President since 2009, and is working "to help build the Company into an emerging pioneer of advanced blood purification technologies. Under his leadership, publicly-traded CytoSorbents is now in the process of transitioning from a development stage company into an early commercialization stage company with the approval and early sales of its flagship product, CytoSorb®, in the European Union. By reducing "cytokine storm", CytoSorb® aims to revolutionize the treatment of life-threatening illnesses such as sepsis and infection, burn injury, trauma, severe lung injury, and pancreatitis by preventing or treating multi-organ failure, the leading cause of death in the intensive care unit." Read more about Dr. Chan here.

Awards will be presented at a special gala on June 27, 2012 at the Hyatt New Brunswick. Regional award winners are eligible for consideration for the Ernst & Young National Entrepreneur Of The Year Program. The awards are the culminating event of the Ernst & Young Strategic Growth Forum, the nation's most prestigious gathering of high-growth, market-leading companies.

Read the full release at Yahoo Finance.