MedaSorb Technologies began trading on the OTC Bulletin Board today.MedaSorb Technologies, a medical-device company based in Monmouth Junction, began trading under the symbol MSBT on the OTC Bulletin Board today. On June 30, the company completed a reverse merger and closed a $5.25 million private placement of its Series A 10% cumulative convertible preferred stock and warrants to purchase common stock.
MedaSorb produces CytoSorb and BetaSorb, treatments for removing toxic compounds from the bloodstream. CEO Al Kraus said, “We are pleased that we secured funding to further the development of our blood-purification technologies. We believe that our medical devices, which use absorption technology, unlike current technologies, could be a dramatic improvement in the care of sepsis and dialysis patients.”