CytoSorbents Corp.

CytoSorbents (NSDQ:CTSO) announced today that it enrolled the first patient in a trial of its STAR-T trial for the DrugSorb-ATR system.

Monmouth Junction, N.J.-based CytoSorbents designed its DrugSorb-ATR antithrombotic removal system for the intraoperative removal of ticagrelor during cardiothoracic surgery.

According to a news release, the STAR-T (Safe and Timely Antithrombotic Removal-Ticagrelor) study, a double-blind, randomized, controlled clinical trial received full FDA investigational device exemption approval in July on the back of the FDA breakthrough device designation it was granted in April 2020.

Dr. Bradley S. Taylor, Chief of the Division of Cardiac Surgery and Director of Coronary Revascularization and site Principal Investigator at the University of Maryland Medical Center, enrolled the first patient. The company expects to enroll up to 120 patients across 20 sites and plans to complete the trial by 2022.

“Ticagrelor is an…

CytoSorbents (OTC:CTSO) announced that it commenced an underwritten public offering of shares of its common stock worth $40 million.

Monmouth Junction, N.J.-based CytoSorbents intends to grant underwriters a 30-day option to purchase up to an additional 15% of the number of shares of common stock sold in connection with the offering as well, according to a news release.

The developer of blood purification technology for treating cytokine storm and deadly inflammation in cardiac surgery patients plans to use the net proceeds for general corporate purposes. Those may include expansion of manufacturing, R&D and administrative offices, while the company also intends to use funds for clinical studies in the U.S. and abroad.

Cowen and SVB Leerink are acting as joint book-running managers of the proposed offering.