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MedaSorb Technologies Gains New Patent Allowance
Thursday, November 15, 2007
MedaSorb Technologies Corporation (OTCBB: MSBT) (FRANKFURT: HQE.F), a medical device company focused on the development of its platform technology for removal of toxins from blood and physiologic fluids, announced today it has received an allowance for Patent Application 10/980510 entitled "Devices, Systems & Methods for Reducing Levels of Pro-Inflammatory or Anti-Inflammatory Stimulators or Mediators in the Blood Generated as a result of Extracorporeal Blood Processing."
The patent further broadens the coverage for uses of the CytoSorb™ polymer focusing on use of the polymer for the removal of pro- and anti-inflammatory mediators and stimulators such as cytokines during various blood separation processes such as plasmapheresis, plasma exchange, and plateletpheresis. MedaSorb intends to market a variety of hemoperfusion devices that efficiently remove middle molecular weight toxins from circulating blood and physiologic fluids.
Al Kraus, the CEO of MedaSorb, said, "We are delighted to receive this allowance and further expand our intellectual property portfolio. This patent will add additional strength to MedaSorb's intellectual property portfolio, and once issued, will increase our total patent portfolio to 25." MedaSorb continues to develop and acquire rights to technology expanding the MedaSorb platform technology.
MedaSorb's commercialization plan calls for CytoSorb™ to first enter the market in Europe and then in the US, followed by their pipeline of additional products. MedaSorb is initiating a multi-center trial that will enroll up to 80 patients in Germany as a part of their application for European CE Mark. The CE Mark will allow MedaSorb to market CytoSorb™ in the European Union. The clinical study will utilize CytoSorb™ as an adjunctive therapy in patients with Acute Respiratory Distress Syndrome (ARDS) or Acute Lung Injury (ALI) in the setting of sepsis.
MedaSorb Technologies Corporation is a medical device company preparing to commercialize blood purification technology that effectively removes toxic compounds from circulating blood and physiologic fluids. MedaSorb's initial products, CytoSorb™ and BetaSorb™, are known medically as hemoperfusion devices and incorporate proprietary adsorbent polymer technology. Management believes the potential healthcare applications for its products include: adjunctive treatment of sepsis, prevention of damage to organs donated for transplant prior to organ harvest, prevention of post-operative complications of cardiac surgery, the short- and long-term treatment of kidney failure and drug detoxification. MedaSorb is headquartered in Monmouth Junction, New Jersey. http://www.medasorb.com/.
Safe Harbor Statement
This press release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this press release are not promises or guarantees and are subject to risks and uncertainties that could cause our actual results to differ materially from those anticipated. These statements are based on management's current expectations and assumptions and are naturally subject to uncertainty and changes in circumstances. We caution you not to place undue reliance upon any such forward-looking statements. Actual results may differ materially from those expressed or implied by the statements herein. MedaSorb Technologies Corporation believes that its primary risk factors include, but are not limited to: ability to successfully develop commercial operations; dependence on key personnel; acceptance of the Company's medical devices in the marketplace; the outcome of pending and potential litigation; obtaining government approvals, including required FDA and CE Mark approvals; compliance with governmental regulations; reliance on research and testing facilities of various universities and institutions; the ability to obtain adequate financing in the future when needed; product liability risks; limited manufacturing experience; limited marketing, sales and distribution experience; market acceptance of the Company's products; competition; unexpected changes in technologies and technological advances; and other factors detailed in the Company's Current Report on Form 10KSB filed with the SEC on April 30, 2007, which is available at http://www.sec.gov.
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