CytoSorbents Expands Global Footprint with Opening of New Regional Sales Subsidiary in Dubai
CytoSorbents (NASDAQ: CTSO) has announced the opening of a new regional sales subsidiary in Dubai, United Arab Emirates. The subsidiary, located in Dubai's Science Park, will serve as a gateway to the Middle East and Africa markets, where demand for advanced medical technologies in critical care and cardiac surgery is growing.
The strategic location was chosen for its strong economy, favorable tax policies, advanced infrastructure, well-developed healthcare system, and supportive economic and regulatory environment. The new commercial office will function as a hub for regional sales, business development, training, customer support, and regulatory affairs.
The expansion aims to strengthen existing partnerships, enhance customer interactions, forge new alliances, and drive long-term value creation in these rapidly growing healthcare markets.
CytoSorbents (NASDAQ: CTSO) ha annunciato l'apertura di una nuova filiale commerciale regionale a Dubai, Emirati Arabi Uniti. La filiale, situata nel Dubai Science Park, fungerà da porta d'accesso ai mercati del Medio Oriente e dell'Africa, dove cresce la domanda di tecnologie mediche avanzate per le cure critiche e la chirurgia cardiaca.
La posizione strategica è stata scelta per la sua economia forte, politiche fiscali favorevoli, infrastrutture avanzate, sistema sanitario ben sviluppato e un ambiente economico e normativo di supporto. Il nuovo ufficio commerciale fungerà da hub per le vendite regionali, lo sviluppo commerciale, la formazione, il supporto clienti e le questioni regolatorie.
L'espansione mira a rafforzare le partnership esistenti, migliorare le interazioni con i clienti, creare nuove alleanze e generare valore a lungo termine in questi mercati sanitari in rapida crescita.
CytoSorbents (NASDAQ: CTSO) ha anunciado la apertura de una nueva filial de ventas regional en Dubái, Emiratos Árabes Unidos. La filial, ubicada en el Parque Científico de Dubái, servirá como una puerta de entrada a los mercados de Medio Oriente y África, donde la demanda de tecnologías médicas avanzadas en cuidados críticos y cirugía cardíaca está en aumento.
La ubicación estratégica fue elegida por su economía sólida, políticas fiscales favorables, infraestructura avanzada, un sistema de salud bien desarrollado y un entorno económico y regulatorio de apoyo. La nueva oficina comercial funcionará como un centro para las ventas regionales, desarrollo de negocios, formación, soporte al cliente y asuntos regulatorios.
La expansión tiene como objetivo fortalecer las asociaciones existentes, mejorar las interacciones con los clientes, formar nuevas alianzas y generar valor a largo plazo en estos mercados de salud de rápido crecimiento.
CytoSorbents (NASDAQ: CTSO)는 두바이, 아랍에미리트에 새로운 지역 판매 자회사를 개설했다고 발표했습니다. 두바이 과학 공원에 위치한 이 자회사는 중동 및 아프리카 시장으로의 관문 역할을 하며, 이 지역에서는 중환자 치료 및 심장 수술을 위한 첨단 의료 기술에 대한 수요가 증가하고 있습니다.
이 전략적 위치는 강한 경제, 우호적인 세금 정책, 발전된 인프라, 잘 발달된 의료 시스템, 지원적인 경제 및 규제 환경을 이유로 선택되었습니다. 새로운 상업 사무소는 지역 판매, 사업 개발, 교육, 고객 지원 및 규제 업무의 허브 역할을 할 것입니다.
이번 확장은 기존 파트너십을 강화하고, 고객과의 상호작용을 개선하며, 새로운 동맹을 형성하고, 빠르게 성장하는 이 의료 시장에서 장기적인 가치 창출을 추진하는 것을 목표로 하고 있습니다.
CytoSorbents (NASDAQ: CTSO) a annoncé l'ouverture d'une nouvelle filiale de vente régionale à Dubaï, Émirats Arabes Unis. La filiale, située dans le Dubai Science Park, servira de porte d'entrée vers les marchés du Moyen-Orient et de l'Afrique, où la demande pour des technologies médicales avancées en soins critiques et en chirurgie cardiaque est en augmentation.
Cette position stratégique a été choisie en raison de son économie robuste, de ses politiques fiscales favorables, de son infrastructure avancée, de son système de santé bien développé et de son environnement économique et réglementaire favorable. Le nouveau bureau commercial fonctionnera comme un hub pour les ventes régionales, le développement commercial, la formation, le support client et les affaires réglementaires.
L'expansion vise à renforcer les partenariats existants, améliorer les interactions avec les clients, forger de nouvelles alliances et générer de la valeur à long terme sur ces marchés de la santé en forte croissance.
CytoSorbents (NASDAQ: CTSO) hat die Eröffnung einer neuen regionalen Vertriebstochtergesellschaft in Dubai, Vereinigte Arabische Emirate bekannt gegeben. Die Tochtergesellschaft, die sich im Dubai Science Park befindet, wird als Tor zu den Märkten im Nahen Osten und Afrika dienen, wo die Nachfrage nach modernen Medizintechnologien in der Intensivmedizin und Herzchirurgie wächst.
Der strategische Standort wurde wegen seiner starken Wirtschaft, vorteilhaften Steuerpolitik, modernen Infrastruktur, gut entwickelten Gesundheitsversorgung und einem unterstützenden wirtschaftlichen sowie regulatorischen Umfeld ausgewählt. Das neue Büro wird als Zentrum für regionalen Vertrieb, Geschäftsentwicklung, Schulung, Kundensupport und regulatorische Angelegenheiten fungieren.
Die Expansion zielt darauf ab, bestehende Partnerschaften zu stärken, die Interaktionen mit Kunden zu verbessern, neue Allianzen zu schmieden und eine langfristige Wertschöpfung in diesen schnell wachsenden Gesundheitsmärkten voranzutreiben.
- Strategic expansion into high-growth Middle East and Africa markets
- Establishment of sales hub in tax-favorable Dubai Science Park free zone
- Enhanced regional presence to support existing partnerships and drive sales growth
- None.
Insights
PRINCETON, N.J., Jan. 06, 2025 (GLOBE NEWSWIRE) -- CytoSorbents Corporation (NASDAQ: CTSO), a leader in the treatment of life-threatening conditions in the intensive care unit and cardiac surgery using blood purification, today announced the opening of a new regional sales subsidiary in Dubai, United Arab Emirates (UAE). The new subsidiary provides a gateway into the Middle East and Africa - regions with increasing demand for advanced medical technologies and high-quality therapies in critical care and cardiac surgery.
“Establishing a central commercial presence in Dubai represents a major milestone in our regional expansion strategy, reflecting our commitment to accelerating sales growth in this critical international market," said Dr. Phillip Chan, Chief Executive Officer of CytoSorbents. “Our business in the region has been growing over the past several years, and this new subsidiary is expected to be a key international sales center that will help us strengthen and better support existing partnerships, foster closer on-the-ground interactions with customers to augment sales, forge new alliances, and drive long-term value creation.”
CytoSorbents has established its new commercial office in the heart of Dubai’s Science Park, a commercial, healthcare-focused, “free zone” with special economic benefits, that will serve as a hub for regional sales and business development, training, customer support, and regulatory affairs. The UAE is the regional home of many multinational medical device companies and was selected because of its strategic location, strong economy and favorable tax policies, advanced infrastructure, well-developed healthcare system, and supportive economic and regulatory policies.
Dr. Chan continued, “The Middle East and Africa continue to experience rapid growth in the demand for cutting-edge healthcare technologies such as CytoSorb® and we are thrilled to be at the forefront of this transformation. We look forward to working closely with healthcare providers, regulators, and key stakeholders to establish CytoSorbents as a leader in critical care and cardiac surgery across this dynamic region.”
About CytoSorbents Corporation (NASDAQ: CTSO)
CytoSorbents Corporation is a leader in the treatment of life-threatening conditions in the intensive care unit and cardiac surgery through blood purification. CytoSorbents’ proprietary blood purification technologies are based on biocompatible, highly porous polymer beads that can actively remove toxic substances from blood and other bodily fluids by pore capture and surface adsorption. Cartridges filled with these beads can be used with standard blood pumps already in the hospital (e.g. dialysis, ECMO, heart-lung machines). CytoSorbents’ technologies are used in a number of broad applications. Specifically, two important applications are 1) the removal of blood thinners during and after cardiothoracic surgery to reduce the risk of severe bleeding and 2) the removal of inflammatory agents in common critical illnesses such as sepsis, burn injury, trauma, lung injury, liver failure, cytokine release syndrome, and pancreatitis that can lead to massive inflammation, organ failure and patient death. In these diseases, the risk of death can be extremely high, and there are few, if any, effective treatments.
CytoSorbents’ lead product, CytoSorb®, is approved in the European Union and distributed in 76 countries worldwide, with more than a quarter million devices used cumulatively to date. CytoSorb was originally launched in the European Union under CE mark as the first cytokine adsorber. Additional CE mark extensions were granted for bilirubin and myoglobin removal in clinical conditions such as liver disease and trauma, respectively, and for ticagrelor and rivaroxaban removal in cardiothoracic surgery procedures. CytoSorb has also received FDA Emergency Use Authorization in the United States for use in adult critically ill COVID-19 patients with impending or confirmed respiratory failure, to reduce pro-inflammatory cytokine levels. CytoSorb is not yet approved in the United States.
In the U.S. and Canada, CytoSorbents is developing the DrugSorb™-ATR antithrombotic removal system, an investigational device based on an equivalent polymer technology to CytoSorb, to reduce the severity of perioperative bleeding in high-risk surgery due to blood thinning drugs. It has received two FDA Breakthrough Device Designations: one for the removal of ticagrelor and another for the removal of the direct oral anticoagulants (DOAC) apixaban and rivaroxaban in a cardiopulmonary bypass circuit during urgent cardiothoracic procedures. In September 2024, the Company submitted a De Novo medical device application to the U.S. FDA requesting marketing approval to reduce the severity of perioperative bleeding in CABG patients on the antithrombotic drug ticagrelor, which was accepted for substantive review in October 2024. In November 2024, the Company received its Medical Device Single Audit Program (MDSAP) certification and submitted its Medical Device License (MDL) application to Health Canada. DrugSorb-ATR is not yet granted or approved in the United States and Canada, respectively.
The Company has numerous marketed products and products under development based upon this unique blood purification technology protected by many issued U.S. and international patents and registered trademarks, and multiple patent applications pending, including ECOS-300CY®, CytoSorb-XL™, HemoDefend-RBC™, HemoDefend-BGA™, VetResQ®, K+ontrol™, DrugSorb™, ContrastSorb, and others. For more information, please visit the Company’s website at https://ir.cytosorbents.com/ or follow us on Facebook and X.
Forward-Looking Statements
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. These forward-looking statements include, but are not limited to, statements about our plans, objectives, future targets and outlooks for our business, representations and contentions, and the outcome of our regulatory submissions, and are not historical facts and typically are identified by use of terms such as “may,” “should,” “could,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue” and similar words, although some forward-looking statements are expressed differently. You should be aware that the forward-looking statements in this press release represent management’s current judgment and expectations, but our actual results, events and performance could differ materially from those in the forward-looking statements. Factors which could cause or contribute to such differences include, but are not limited to, the risks discussed in our Annual Report on Form 10-K, filed with the SEC on March 14, 2024, as updated by the risks reported in our Quarterly Reports on Form 10-Q, and in the press releases and other communications to shareholders issued by us from time to time which attempt to advise interested parties of the risks and factors which may affect our business. We caution you not to place undue reliance upon any such forward-looking statements. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, other than as required under the Federal securities laws.
Please Click to Follow Us on Facebook and X
U.S. Company Contact:
Peter J. Mariani
Chief Financial Officer
pmariani@cytosorbents.com
Investor Relations Contact:
Aman Patel, CFA
Investor Relations, ICR Healthcare
(443) 450-4191
ir@cytosorbents.com
FAQ
What is the purpose of CytoSorbents' (CTSO) new Dubai subsidiary?
Where is CytoSorbents' (CTSO) new Dubai office located?
What are the strategic benefits of CTSO's Dubai location choice?
How will the Dubai subsidiary impact CTSO's international growth?
