CytoSorbents Announces Kathleen P. Bloch To Resume as Full-Time Chief Financial Officer

PRINCETON, N.J., Sept. 19, 2023 (GLOBE NEWSWIRE) -- CytoSorbents Corporation (NASDAQ: CTSO), a critical care therapy leader commercializing its CytoSorb blood purification technology to treat cytokine storm and deadly inflammation in critically-ill and cardiac surgery patients around the world, announced the re-appointment of Kathleen P. Bloch as full-time Chief Financial Officer, effective retroactively to September 2, 2023. Ms. Bloch served as the Company’s Chief Financial Officer for 10 years until her retirement in March 2023, when she became Interim CFO as a consultant. She resumed as Interim CFO after the investigation of, and mutual termination and release agreement with, former CFO Alexander D’Amico, as detailed here and here, respectively.

Dr. Phillip Chan, Chief Executive Officer of CytoSorbents stated, “Following this unexpected turn of events, it is great to have Kathy back as full-time Chief Financial Officer. Kathy’s accomplished career speaks for itself as discussed here and here. We thank Kathy for her unquestioned dedication to the Company, the management team, and our employees over the past decade, and particularly now as we enter this exciting time for the Company. Kathy’s commitment secures this leadership position and provides the time and expertise to focus and execute upon our critical near-term business goals and priorities.”

Ms. Bloch stated, “The next six to twelve months is expected to bring a potential wealth of opportunities as we target U.S. and Canadian approval for the first time with DrugSorb-ATR, and we work to capitalize on both anticipated improvements in the acute care markets and investments made with our existing CytoSorb business. Like the rest of this outstanding team, I am passionate about our mission to help save lives and am proud of the Company we have built to date. It was an easy decision to come back and provide continuity and stability to our Company and business at this pivotal moment.”

About CytoSorbents Corporation (NASDAQ: CTSO)

CytoSorbents Corporation is a leader in the treatment of life-threatening conditions in the intensive care unit and in cardiac surgery through blood purification. Its lead product, CytoSorb, is approved in the European Union and distributed in 75 countries worldwide with more than 212,000 devices cumulatively used as of Q2 2023. CytoSorb is an extracorporeal cytokine adsorber that reduces “cytokine storm” or “cytokine release syndrome” in common critical illnesses seen in the ICU and cardiac surgery that can lead to massive inflammation, organ failure, and a high risk of patient death. Additional CE mark extensions were granted for bilirubin and myoglobin removal in clinical conditions such as liver disease and trauma, respectively. CytoSorb is also E.U. approved to remove the blood thinners, ticagrelor and rivaroxaban, during cardiothoracic surgery to reduce the risk of perioperative bleeding. 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.