CytoSorbents Corporation (NASDAQ: CTSO) a critical care immunotherapy leader commercializing its CytoSorb® blood purification technology to treat deadly inflammation in critically-ill and cardiac surgery patients around the world, announces that the Medical Device Division of the State of Israel Ministry of Health medical device regulation unit (AMAR), has granted registration of CytoSorb in Israel, clearing the way to begin selling the device in the country.
Mr. Vincent Capponi, Chief Operating Officer of CytoSorbents stated, “We are pleased to bring CytoSorb to Israel, a country well-known for its excellent medical practices, especially in critical care and cardiac surgery, and the development and adoption of new medical technologies.”
CytoSorbents also announced its new Israeli distributor, Gad Medical, who will have exclusive rights to sell CytoSorb for all applications in Israel. Mr. David Frances, CEO of Gad Medical stated, “Now that CytoSorb is registered in Israel, we are excited to work with CytoSorbents on the launch of CytoSorb in the country. Gad Medical specializes in selling cardiovascular medical devices as the exclusive distributor for Terumo Cardiovascular in Israel, and distributes many new and innovative medical devices in other medical fields. Because of this, we believe we are ideally suited to promote and sell CytoSorb in the country.”
Israel has a population of approximately 9 million people, and has one of the largest healthcare systems in the Middle East, spending 7.6% of its gross domestic product (GDP) on healthcare each year. Its citizens are served by 44 general hospitals and the most physicians per capita in the world. All citizens are covered by universal healthcare insurance, administered by one of four national healthcare institutes, and often supplement this universal coverage with private insurance. In 2015, the Israeli Ministry of Health estimated that sepsis was the 6th leading cause of death in the country, costing approximately $1.8 billion per year to treat. According to the Israel Heart Society, heart disease is the second leading cause of death in the country. More than 10,000 cardiothoracic surgeries are performed each year at 13 medical centers.
About Gad Medical
Founded in 2013, Gad Medical is an importing and marketing company based out of Israel specializing in the health and medical fields, focusing on innovative and cutting-edge technology devices and equipment to rapidly become market leaders. The company has an annual growth rate exceeding 50% a year, marketing a variety of products in the fields of cardiovascular, Interventional cardiology and radiology, oncology, neurology and neurosurgery, orthopedics, and pain treatment.
About CytoSorbents Corporation (NASDAQ: CTSO)
CytoSorbents Corporation is a leader in critical care immunotherapy, specializing in blood purification. Its flagship product, CytoSorb® is approved in the European Union with distribution in 55 countries around the world, as an extracorporeal cytokine adsorber designed to reduce the “cytokine storm” or “cytokine release syndrome” that could otherwise cause massive inflammation, organ failure and death in common critical illnesses. These are conditions where the risk of death is extremely high, yet no effective treatments exist. CytoSorb® is also being used during and after cardiac surgery to remove inflammatory mediators that can lead to post-operative complications, including multiple organ failure. CytoSorbents is conducting its pivotal REFRESH 2-AKI trial – a multi-center, randomized controlled, clinical trial intended to support U.S. regulatory approval of CytoSorb for use in a heart-lung machine during complex cardiac surgery to reduce organ injury. CytoSorb® has been used in more than 56,000 human treatments to date.
CytoSorbents’ 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. Its technologies have received non-dilutive grant, contract, and other funding of nearly $26 million from DARPA, the U.S. Army, the U.S. Department of Health and Human Services, the National Institutes of Health (NIH), National Heart, Lung, and Blood Institute (NHLBI), U.S. Special Operations Command (SOCOM), and others. The Company has numerous products under development based upon this unique blood purification technology protected by many issued U.S. and international patents and multiple applications pending, including CytoSorb-XL™, HemoDefend™, VetResQ™, K+ontrol™, ContrastSorb, DrugSorb, and others. For more information, please visit the Company’s websites at www.cytosorbents.com and www.cytosorb.com or follow us on Facebook and Twitter.
Leading global crop protection company ADAMA Ltd. has partnered with Tactical Robotics Ltd., an innovative Israeli aerospace company, in a joint feasibility study for a High-Payload, Unmanned Aerial Vehicle (UAV) for Aerial Spraying.
Tactical Robotics has developed the Cormorant, a multi-role, compact, high payload, unmanned Vertical-Take-Off-and-Landing (VTOL) aircraft with unique capabilities. The Cormorant can carry an effective payload of more than 500 KG (up to 764 KG including fuel), it does not require an airstrip and can be transported by truck. The Cormorant is a versatile UAV platform capable of preforming multiple tasks, ranging from logistics and cargo services to fire-fighting and aerial spraying.
As part of the collaboration, ADAMA and Tactical Robotics will work together to develop the Ag-Cormorant, an innovative solution for aerial spraying. ADAMA’s expertise and know-how of the Ag industry alongside its farmer-centric approach dedicated for bringing valuable solutions to the farm ecosystem will guide the development direction and define the Ag-Cormorant capabilities.
The Ag-Cormorant’s unmanned operation and unique design promote a new standard of safety in aerial spraying. It eliminates the risks of pilot injuries and exposed rotor accidents. With a relatively low acoustic signature and 24/7 flying capabilities it will significantly increase the available window for application. The Ag-Cormorant’s ability to adjust flight height and speed according to the mission in combination with unique aerodynamic properties enables better canopy penetration, drift reduction and variable rate application capabilities. Watch Video
Dani Harari, SVP Strategy & Resources at ADAMA, said, “We are excited to partner with Tactical Robotics to develop new and innovative solutions for aerial spraying. We believe that the Ag-Cormorant represents a new and improved method for aerial application and see the future potential of leveraging ADAMA’s crop protection portfolio in combination with its unique capabilities. We aim to continue providing these and other valuable services and products to enable farmers to optimize yields and help them grow.”
Rafi Yoeli, CEO, Tactical Robotics, Ltd., said, “When ADAMA approached us with their insights about the potential for Cormorant to answer some of the most pressing needs in the Ag sector we were extremely impressed by the ADAMA’s forward thinking and innovative spirit. Cormorant’s unique capabilities offer solutions to challenges in a variety of sectors and ADAMA’s participation and vision are an important contribution to a valuable application for our Cormorant UAV.
ADAMA Ltd. is one of the world’s leading crop protection companies. We strive to Create Simplicity in Agriculture – offering farmers effective products and services that simplify their lives and help them grow. With one of the most comprehensive and diversified portfolios of differentiated, quality products, our 6,600-strong team reaches farmers in over 100 countries, providing them with solutions to control weeds, insects and disease, and improve their yields. For more information, visit us at www.ADAMA.com and follow us on Twitter® at @ADAMAAgri.
About Tactical Robotics
Tactical Robotics Ltd, a subsidiary of Urban Aeronautics Ltd, has developed Cormorant, the world’s first compact footprint / high payload, internal rotor VTOL UAV. Cormorant’s groundbreaking, multi-role, vertical lift capabilities bring new solutions to a variety of sectors including, emergency response and disaster relief, fire fighting, cargo delivery, utility work and many others. Visit us at www.tactical-Robotics.com and follow us on Twitter @TacticalRobotix and Facebook @tacticalrobotics.