The U.S. Army Medical Research Acquisition Activity has awarded CytoSorbents Corp (NASDAQ: CTSO) a three-year Phase 3 contract valued at $4.3 million for customized HemoDefend-BGA filter for sterile integration into collections systems for freeze-dried plasma processing to generate freeze-dried universal plasma.
HemoDefend-BGA enables universal plasma and fresh whole blood transfusions by reducing anti-A and anti-B blood group antibodies via the company's blood purification technology.
The total addressable market for HemoDefend-BGA in transfusion medicine in westernized countries is an estimated $400-$600 million.
Without the need for blood typing, the widespread availability of universal plasma could help save lives via faster emergency treatment in both civilian and military settings.
Dr. Maryann Gruda, Principal Investigator, said the continued support and funding of anti-A and anti-B blood group antibody (BGA) reduction technology by the Defense Health Agency and U.S. Army would be instrumental in bringing this technology to market.
This award will fund the development and scale-up of a specialized HemoDefend-BGA filter that can be integrated with freeze-dried plasma technologies to generate a logistically superior, low-titer plasma product.
The HemoDefend-BGA filter is not yet approved in the U.S. or elsewhere.
Price Action: CTSO shares are up 7.34% at $1.74 on the last check Thursday.
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