CytoSorbents Appoints Peter J. Mariani Chief Financial Officer

Core Points - CytoSorbents Corporation has appointed Peter J. Mariani as Chief Financial Officer (CFO), effective August 14, 2024, following the retirement of Kathleen P. Bloch [1][3] - Mr. Mariani has over 25 years of experience in financial leadership within high-growth medical device companies, including his recent role as CFO of Axogen, Inc., where he significantly increased annual revenue from $27 million to nearly $160 million [2][3] - The company is pursuing U.S. and Canadian marketing approval for its investigational device, DrugSorb-ATR, which is expected to enhance its growth in the cardiac surgery market [3][4] Company Overview - CytoSorbents Corporation specializes in blood purification technologies for life-threatening conditions in intensive care and cardiac surgery, with its lead product, CytoSorb®, approved in the European Union and distributed in 76 countries [5] - CytoSorb® is designed to reduce cytokine storms and is used during cardiothoracic surgery to mitigate complications such as severe bleeding and organ failure [5] - The company has received FDA Emergency Use Authorization for CytoSorb® in critically ill COVID-19 patients [5] Product Development - The DrugSorb™-ATR system has received two FDA Breakthrough Device Designations for removing specific anticoagulants during cardiothoracic procedures, with a pivotal study completed to support regulatory approval [6] - CytoSorbents has developed various products based on its proprietary polymer adsorption technology, with significant funding received from multiple U.S. government agencies totaling approximately $50 million [7]