Another product that we announced recently is our ContrastSorb technology. ContrastSorb, still in early development, is designed to try to prevent contrast-induced nephropathy. Patients with existing kidney injury from diseases such as diabetes and hypertension, are at higher risk of kidney injury when undergoing standard CT imaging procedures using IV contrast, interventional radiology procedures, and cardiac catheterizations. Unfortunately, due to vascular disease, these are the patients who are most likely to require these procedures. There are an estimated 200 million CT scans performed each year with many requiring contrast administration. There are an estimated 10 million coronary angiograms performed each year worldwide, as either a diagnostic or therapeutic (stent placement or balloon angioplasty) procedure for coronary artery disease, each requiring high doses of IV contrast. Catheterization procedures for peripheral artery disease and other interventional radiology procedures also continue to grow rapidly. With our blood compatible technology that can remove contrast with high single pass efficiency, it potentially could be used during these procedures in high risk patients to mitigate kidney injury. This type of technology could, for example, be interesting to renal/dialysis companies, catheter companies, interventional cardiology and radiology companies, and potentially others.
In 2012, we were pleased to attract positive analyst coverage from both Zacks Research and Brean Murray. These reports, and the continuing follow-on research notes, summarized the investment opportunity well and represented the first research coverage on the Company since going public in 2006. We commissioned Investorials.com to produce an easy-to-understand and engaging three and a half minute illustrated video synopsis on CytoSorbents that has also garnered praise from both existing and potential investors. We were also interviewed by MoneyTV in a high quality video, with additional follow-on audio segments that helped to bring our message to a broader television audience. We also worked with ProActive Capital to broaden our social media exposure and to bring new content to investors. Also, an article on our Company appeared on the front page of Medical Device Daily, a daily web and print publication that has excellent distribution into the medical device community. Many of these materials can be found on our investor relations homepage. Furthermore, we presented at numerous investor conferences, such as the OneMedForum, Rodman and Renshaw, and Brean Murray conferences.
The above activities demonstrate our commitment to support our shareholders and to share our story with a wider investor audience. In 2013, we plan to go one step further and have formally engaged Alliance Advisors as our investor relations group. They are a well-respected boutique firm that specializes in representing companies of our size, with many institutional and retail investor contacts. We also plan to devote more resources towards increasing the visibility and profile of our Company in the media. Last but not least, we expect the launch of our newly-designed website in the next several months.
Expanding our investor relations efforts fits with our longer term goal of leaving the OTCBB and up-listing to a national stock exchange. This requires significant preparation, and clearly must be done at the appropriate time when our fundamentals justify it. However, the advantages are many, including a higher profile and greater access to the broader investment community, particularly institutional investors.
Goals for 2013-2014
We have laid out an ambitious, yet potentially achievable, agenda for the next two years. Some of our highest priorities are:
•Greater awareness of our story and technology through increased media exposure and improved investor relations •Revenue growth and increased product adoption in our direct sales territories •Distributor agreements for CytoSorb in Europe and elsewhere •Strategic partnerships for our pipeline products •Non-dilutive funding from grants and other programs •Commencement of a U.S. based trial •Clinical data and new clinical applications with data being presented at key scientific conferences •Improving liquidity and institutional sponsorship of our stock with potential up-listing to a national stock exchange
We appreciate the continued hard work and dedication of our employees and the support of our shareholders and friends. My best wishes to all for a happy, healthy, and prosperous New Year!
Phillip Chan, MD, PhD
Chief Executive Officer - CytoSorbents Corporation
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. CytoSorbents Corporation and CytoSorbents, Inc believe that its primary risk factors include, but are not limited to: obtaining government approvals including required FDA and additional CE Mark approvals; ability to successfully develop commercial operations; dependence on key personnel; acceptance of the Company's medical devices in the marketplace; the outcome of pending or potential litigation; compliance with governmental regulations; reliance on research and testing facilities of various universities and institutions; the ability to obtain adequate and timely 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 Form 10-K filed with the SEC on March 30, 2012, which is available at http://www.sec.gov.
Chief Executive Officer
(732) 329-8885 ext. 823
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