CytoSorbents Corporation (OTCQB: CTSO) is proud to announce that it was named the Health sector winner at the 2014 GREAT Tech Awards Gala last evening. Sponsored by United Kingdom Trade & Investment and the British Consulate General New York, the GREAT Tech Awards selected one winner in each of six categories from a pool of 120 high growth companies from New York, New Jersey, Pennsylvania and Connecticut.
United Kingdom Secretary of State for Foreign and Commonwealth Affairs, Philip Hammond stated, "The GREAT Tech Awards reflect the British government's commitment to helping the best and brightest American tech companies to expand across the Atlantic."
CytoSorbents was recognized for its innovative and potentially revolutionary blood purification technology, CytoSorb®, designed to help treat deadly inflammation in patients with life-threatening conditions such as sepsis, trauma, burn injury, lung injury, and others in the intensive care unit. Left unchecked, this uncontrolled inflammation can lead to multiple organ failure, the cause of nearly half of all deaths in the ICU today. CytoSorb® reduces "cytokine storm" and other inflammatory toxins that fuel the fire of inflammation, with the goal of preventing or treating organ failure, thereby saving lives while reducing the massive costs of ICU care. CytoSorb® is approved in all 28 countries of the European Union, including the U.K. and Ireland, and marketed in 19 countries worldwide.
Dr. Phillip Chan, Chief Executive Officer of CytoSorbents stated, "It is a tremendous honor for our company to have won this award, particularly amongst so many other exciting and accomplished companies. We thank the organizers and distinguished panel of judges of the GREAT Tech Awards for recognizing our unique technology and our efforts to save the lives of those greatest in need. We are also thankful for the growing support of CytoSorb® amongst physicians and others in the medical community who are working with us to achieve this common goal."
In addition to the recognition as one of the most promising healthcare companies in the region, CytoSorbents will receive business strategy, business development, accounting, legal, and employee recruitment assistance to facilitate its further market penetration into the U.K. market with distribution partner LINC Medical Systems Ltd.
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