CTSO and AEMD from the Blood Purification discussion
by xiexgp | January 27, 2014 10:20 am
Anybody take a look at them lately? Was hoping for some more of that famous Gumshoe discussion on the companies, but both are up since I wrote about them on the discussion boards and all I hear here are crickets.
Source URL: https://www.stockgumshoe.com/2014/01/microblog-ctso-and-aemd-from-the-blood-purification-discussion/
You didn’t leave your name, but Dr. karmaswimswami just commented on this company on this Gumshoe thread. It’s down at the bottom. If you want to see your head spin, start at the top.
http://www.stockgumshoe.com/reviews/biotech-supertrader/this-tiny-unknown-biotech-is-about-to-unleash-its-holy-grail-drug/
Heading there to read it now. Thanks
Oh, Robert V here
New article out yesterday in the Sentinel:
Biotech product geared toward reducing deaths in the ICU
By KATHY CHANG
Staff Writer
Nearly half of all deaths in the intensive care units (ICU) of hospitals are caused by severe uncontrolled inflammation, which can precipitate organ failure and lead to death.
Currently in the United States, there is no effective treatment that exists to prevent these deaths. There are antibiotics, but they address only the infectious trigger and not the body’s own immune response, which can lead to severe inflammation that spirals out of control, killing cells and damaging organs enough to cause failure.
When it comes to critical care treatments within the U.S., there is a large void, according to Phillip P. Chan, CEO of CytoSorbents Corp.
The small, publicly traded biotech firm located on Deer Park Drive in the Monmouth Junction section of South Brunswick is a critical-care immunotherapy company that is commercializing its European Union-approved CytoSorb blood purification therapy to treat life-threatening illnesses in the ICU.
Its flagship product supports the immune system by removing excessive cytokines. If left untreated, a “cytokine storm” can lead to deadly inflammation, multiple organ failure, immune dysfunction and often death in common illnesses such as sepsis, trauma, burn injury, acute respiratory distress syndrome and pancreatitis. Even with the best medical treatment, one in three people die because there is a lack of active treatments, according to Chan.
“When a person burns his or her finger, it hurts,” he said, likening uncontrolled inflammation to such pain multiplied all over the body.
A person who is suffering from uncontrolled inflammation is placed in the ICU, and his or her condition is unpredictable, Chan said, noting that the patient’s stay in the ICU is costly. “Patients linger at a cost of $2,000 to $3,000 per day in the ICU,” he said. The CytoSorbent product, CytoSorb, is sold to hospitals and critical-care physicians worldwide, including the United Kingdom, Ireland, Netherlands, Turkey, Russia and India.
To show his support, U.S. Rep. Rush Holt recently toured the headquarters of CytoSorbents, which has been awarded recognition from the U.S. Department of Commerce for its rapidly growing exports overseas. Holt presented the U.S. Commercial Service Export Achievement Certificate to representatives of CytoSorbents and spoke about ways to boost high-tech exports and support U.S. job creation.
The company expects to report approximately $2.4 million in its first full year of commercializing its product, which occurred in 2013. The total sales are expected to be greater than $840,000. The 2014 revenue from grants is projected to be approximately $1.6 million, compared to approximately $1.2 million in 2013.
Since 2008, CytoSorbents has received more than $1.4 million from the New Jersey Technology Business Tax Certificate Transfer Program.
In 2012, the Defense Advanced Research Projects Agency (DARPA) awarded CytoSorbents a $3.8 million, five-year contract as part of the “Dialysis-Like Therapeutics” program to treat sepsis by removing cytokines and pathogen-derived toxins.
From 2011-13, the U.S. Army awarded a $1.15 million small-business innovation research contract to CytoSorbents for trauma and burn injury research.
The U.S. Air Force is funding a 30-patient human pilot study in trauma valued at $3 million — this was announced in 2013, and the Federal Food and Drug Administration approved the trial to begin this year.
In 2010, the U.S. Department of Health and Human Services awarded a $500,000 grant for therapies that can save lives and reduce costs under the Qualifying Therapeutic Discovery Project Program.
From 2006 to 2010, the National Institutes of Health (NIH) awarded a $7 million, five-year grant to the University of Pittsburgh and Dr. John Kellum to research CytoSorb bead for treatments of sepsis. Kellum is one of the many leading advisors in critical care for CytoSorbents.