Dr. Phillip Chan of CytoSorbents Corporation talked to The Wall Street Transcript about his company. Click here to read the complete interview.
TWST: Please start with a general overview and a history of the company.
Dr. Chan: CytoSorbents, formerly known as MedaSorb Technologies Corporation, is a critical-care focused medical device company using blood purification to treat life-threatening illnesses. Most of us know someone who has been hospitalized by a critical illness. It might have been from a severe infection like pneumonia, or a massive burn injury from a fire, or a traumatic injury from a near-fatal car accident, or possibly even from an H1N1 influenza infection last year. These are problems that are seen commonly in the intensive care unit today, but aside from antibiotics, the current standard of care for most of these patients is typically supportive care therapy, designed to keep the person alive, but not necessarily helping them to get better. Because of this, the mortality of these patients can be an appalling 30% or more. To put that in context, I always remember college orientation when our university president said, “Look to your left, now look to your right. One of you won’t be here in four years.” That’s a really scary statistic when your life is on the line. What we are trying to accomplish at CytoSorbents is to bring to market a new generation of what we call “active” therapies that are designed to target the underlying cause of why these patients die and why the mortality is so high. In particular, our flagship product is CytoSorbª, a highly efficient cytokine filter currently in clinical trials that’s designed to reduce something called “cytokine storm” that is a major cause of organ failure, infection and death in many of these critical care diseases.
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