Dr. Phillip Chan, Chief Executive Officer and President, CytoSorbents, said, "We are very pleased to enter into this initial agreement with Biocon on World Sepsis Day and to bring our potentially life-saving therapy to the people of India and other emerging markets. Unlike any other previous approach, CytoSorb® attacks sepsis from multiple angles -- reducing cytokine storm, reducing many deadly bacterial toxins, and directing immune cells to target the infection while avoiding damage to otherwise healthy organs. When combined with Biocon's critical care antibiotics, it is an ideal broad spectrum strategy to fight sepsis. Biocon is a perfect partner for CytoSorbents and CytoSorb® as we share the same commitment to help patients with sepsis, and other life-threatening conditions. We expect adoption and sales of CytoSorb® to benefit from Biocon's strong regional sales and distribution network across India, and extensive equity with key opinion leaders."
Mr. Chris Cramer, Vice President of Business Development, CytoSorbents, stated, "Biocon is an exceptionally strong partner for CytoSorbents with expertise in introducing innovative new therapies, like CytoSorb®, into the hospital setting. Biocon's network will enable rapid access, education, training, and support of physicians in the largest hospitals throughout India and other emerging markets. We are very excited to be working with a leader like Biocon and look forward to supporting them in the successful launch of CytoSorb® in these markets. This partnership has the potential to change the treatment of critical care illnesses such as sepsis, and we are confident that our work will lay the groundwork for an expanded partnership in the future."
Financial terms of the agreement were not disclosed.
About India and Sepsis
India is the second most populous country in the world with over 1.2 billion people and the tenth largest economic market by gross domestic product (GDP). By 2015, India is also projected to be the 10th largest market for pharmaceuticals and medical devices, with over $25 billion in forecasted sales.
Severe sepsis and septic shock are major causes of morbidity and mortality worldwide. It is a leading cause of death in non-coronary ICUs and the 11th leading cause of death overall. Over a third of patients who develop sepsis die globally, even though the best standard of care is available. In India, more than one million estimated new cases of severe sepsis are treated in the Indian ICUs each year, accounting for one out of every four patients in the ICU. According to a recent nationwide study of Indian Intensive Care Case Mix and Practice Patterns (INDICAPS) involving over 124 ICUs across 17 states in India, mortality was found to be as high as 46% in patients with septic shock and 42.2% overall in septic patients, compared with 17.8% mortality for ICU patients who did not develop sepsis.