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

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

JUNCTION, N.J., June 27, 2013 - 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.

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.

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.

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.

"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."

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

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 at http://www.sec.gov

CytoSorbents Corporation

Chief Executive Officer

(732) 329-8885 ext. *823

Alliance Advisors, LLC

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Source: CytoSorbents Corporation