CytoSorbents Corporation (CTSO)

[techxen]

The announcement of the establishment of a new U.K. operating subsidiary, CytoSorbents UK Limited, to me was as significant as the new study. Shows that some business and financial strategic thinking went into this, as the new subsidiary enables them to be eligible for certain research tax credits that are expected to subsidize the trial by up to a third of the cost.

In previous years the company has had an anemic presence in the UK with a sub-par distributor (LINC Medical). Despite having an MIB review by NICE as an innovative therapy in 2016, there were very few sepsis studies that were conducted and the ones published did not do much in terms of moving the adoption needle. The company changed distributors in 2018 to Chalice Medical (https://www.chalicemedical.com/).

With this new study focused around removal of Ticagrelor during cardiac surgery, I think this could be a game changer in terms of building adoption in Europe. There are over 35,000 bypass surgeries a year just in the UK and from an analysis of individual surgeons' performance at the operating table which was done several years ago, it found that the United Kingdom's cardiac surgeons are among the best in the world, with more adults surviving surgery despite patients being sicker and older than elsewhere. The average mortality rate for all those bypass surgeries was around 1.8%.