CytoSorbents Announces Start of $1M US Army Phase II SBIR Contract and Closing of Additional Funding

CytoSorbents Announces Start of $1M US Army Phase II SBIR Contract and Closing
of Additional Funding

MONMOUTH JUNCTION, N.J., June 27, 2013 (GLOBE NEWSWIRE) -- CytoSorbents
Corporation (OTCBB: CTSO), a critical care focused company commercializing its
European Union approved CytoSorb® blood filter to treat life-threatening
illnesses in the intensive care unit, announced today that it has successfully
completed negotiations and begun work on the previously announced $1 million
Phase II SBIR (Small Business Innovation Research) contract in trauma and burn
injury from the United States Army.

Over the next year, CytoSorbents will continue its collaboration with some of
the leading medical researchers in the US military to explore the use of its
CytoSorb® cytokine filter and newly developed technologies to treat both
trauma and burn and smoke inhalation injury in large animal models. Assuming
the successful completion of the Phase II work, the Company would be eligible
to apply for a Phase III SBIR award that would help to fund and accelerate
human clinical testing in the area of burn injury and/or trauma. This work,
supported by the US Army Medical Research and Materiel Command under an
amendment to Contract W81XWH-12-C-0038, has now received committed funding of
$1.15 million to date.

This program is separate from the recently announced US Air Force funded and
FDA-approved 30 patient human pilot study using CytoSorb® to treat
rhabdomyolysis in trauma patients expected to begin in the US this year.

In addition, the Company announced that it has raised $1.1 million in new
funding from investors in the form of a convertible note financing. Dr.
Phillip Chan, CEO of CytoSorbents, was amongst the investors who participated
in this financing. Full details of this financing will be available in a
subsequent Form 8-K filing.

Dr. Chan stated, "We are pleased to have the continued support of the
government and US military with award contracts, grants, and funding of our
technologies well in excess of $7 million from DARPA, the US Army, the US Air
Force, the US Department of Health and Human Services, the National Institutes
of Health, and the New Jersey Economic Development Authority. We also thank
our investors and shareholders for supporting our vision to save the lives of
people around the world with our ground-breaking technologies."

About CytoSorbents Corporation

CytoSorbents is a critical care focused therapeutic device company using blood
purification to modulate the immune system - with the goal of preventing or
treating multiple organ failure in life-threatening illnesses. Organ failure
is the cause of nearly half of all deaths in the intensive care unit, with
little to improve clinical outcome. CytoSorb®, the Company's flagship product,
is approved in the European Union as a safe and effective extracorporeal
cytokine filter, designed to reduce the "cytokine storm" that could otherwise
cause massive inflammation, organ failure and death in common critical
illnesses such as sepsis, burn injury, trauma, lung injury, and pancreatitis.
These are conditions where the mortality is extremely high, yet no effective
treatments exist. 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. CytoSorbents has numerous products under development based upon
this unique blood purification technology, protected by 32 issued US patents
and multiple applications pending, including HemoDefend™, ContrastSorb,
DrugSorb, and others. Additional information is available for download on the
Company's website:http://www.cytosorbents.com

Forward-Looking Statements

This press release includes forward-looking statements intended to qualify for
the safe harbor from liability established by the Private Securities
Litigation Reform Act of 1995. Forward-looking statements in this press
release are not promises or guarantees and are subject to risks and
uncertainties that could cause our actual results to differ materially from
those anticipated. These statements are based on management's current
expectations and assumptions and are naturally subject to uncertainty and
changes in circumstances. We caution you not to place undue reliance upon any
such forward-looking statements. Actual results may differ materially from
those expressed or implied by the statements herein. CytoSorbents Corporation
and CytoSorbents, Inc believe that its primary risk factors include, but are
not limited to: obtaining government regulatory approvals; ability to
successfully develop commercial operations; dependence on key personnel;
acceptance of the Company's medical devices in the marketplace; the outcome of
potential litigation; compliance with governmental regulations; reliance on
research and testing facilities of various universities and institutions; the
ability to obtain adequate and timely financing in the future when needed;
product liability risks; limited manufacturing experience; limited marketing,
sales and distribution experience; market acceptance of the Company's
products; competition; unexpected changes in technologies and technological
advances; and other factors detailed in the Company's Form 10-K filed with the
SEC on April 3, 2013, which is available athttp://www.sec.gov

CONTACT: Company Contact:
         CytoSorbents Corporation
         Dr. Phillip Chan
         Chief Executive Officer
         (732) 329-8885 ext. *823
         pchan@cytosorbents.com
        
         Investor Contact:
         Alliance Advisors, LLC
         Alan Sheinwald
         (914) 669-0222
         asheinwald@allianceadvisors.net
        
         Valter Pinto
         (914) 669-0222 x201
         valter@allianceadvisors.net
        
         Media Contact:
         JQA Partners
         Jules Abraham
         (917) 885-7378
         jabraham@jqapartners.com
 
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