CytoSorbents Corporation (NASDAQ: CTSO) and Converge Biotech, a prominent healthcare company with a strong critical care and infectious disease focus in India, are pleased to announce a new strategic collaboration where the two companies seek to expand their combined market reach in the sepsis and critical care markets in India with a broad synergistic product portfolio.
CytoSorbents is renowned for its flagship product, CytoSorb®, a blood purification technology that reduces “cytokine storm” and a broad range of inflammatory toxins that can otherwise lead to massive inflammation, organ failure and death in many critical illnesses that are very common in India such as sepsis and septic shock, lung failure, acute liver disease, trauma, burn injury, pancreatitis, and others. The therapy is also used to treat acute liver disease and trauma through the removal of harmful substances such as bilirubin and myoglobin, respectively. CytoSorb is used in 76 countries worldwide with more than a quarter million treatments administered to date.
Converge Biotech will leverage its extensive critical care sales force and strong hospital network to accelerate CytoSorb's market penetration in India, ensuring more healthcare facilities have access to this critical therapy. In doing so, CytoSorb will help Converge Biotech strengthen its existing intensive care unit portfolio to now include the treatment of sepsis and other life-threatening diseases.
CTSO shares took on seven cents, or 9.5%, to 81 cents.
