Melanie Grossman Joins CytoSorbents as Vice President and Corporate Controller

CytoSorbents Welcomes Melanie Grossman as Vice President and Corporate Controller

CytoSorbents Corporation, a pioneer in the field of blood purification for critical medical conditions, has officially appointed Melanie Grossman, CPA, as its new Vice President and Corporate Controller. With a robust background spanning 25 years in finance and accounting primarily in publicly-traded companies, Grossman brings a wealth of expertise to this crucial role.

In her new position, Grossman will oversee a variety of financial operations and ensure that CytoSorbents adheres to the strict regulatory standards required for publicly-traded companies. The company's Chief Financial Officer, Peter J. Mariani, expressed confidence in Grossman’s ability to lead and manage financial operations effectively. According to Mariani, her proficiency in setting up substantial financial reporting systems and processes will be pivotal as the company prepares for future growth initiatives.

Prior to joining CytoSorbents, Melanie Grossman held significant roles in various companies, including serving as the Senior Vice President and Group Controller at Staffing 360. Her career trajectory also includes vital positions such as Director of Finance and Accounting for Vaxxinity, as well as a Controller role at Byram Healthcare. Notably, she accrued eight years of experience with Stryker Orthopedic, a leader in medical technology, where she honed her skills in finance and operations. Starting her journey in public accounting, Grossman spent formative years as an auditor at Ernst & Young, catering to a diverse range of clients across multiple industries.

As part of her induction into CytoSorbents, the company announced an inducement grant under the Nasdaq listing rules aimed at enhancing her compensation package. This includes approximately 25,000 shares of non-qualified stock options with a ten-year term, priced at $0.99 per share, the fair market value as of April 14, 2025. Additionally, Grossman will receive 35,000 signing restricted stock units that will vest under certain conditions, emphasizing the company's commitment to aligning compensation with long-term performance.

CytoSorbents is recognized for its revolutionary approach to treating life-threatening conditions in intensive care and cardiac surgery through advanced blood purification technologies. The company specializes in using biocompatible polymer beads that can effectively remove toxic substances from blood. Their lead product, CytoSorb®, has already gained approval in the European Union and is utilized across over 70 countries, with more than 270,000 devices employed to date. In the U.S. and Canada, the company is in the process of developing the DrugSorb™-ATR antithrombotic removal system, which aims to mitigate severe bleeding risks during surgery.

CytoSorbents' innovative blood purification technologies address several critical health issues by removing harmful agents from the bloodstream. The applications of these technologies range from managing severe cardiac surgery complications to addressing inflammatory responses in critical illnesses. In essence, the solutions provided by CytoSorbents have the potential to save lives where other treatments may fall short.

As CytoSorbents looks toward a future filled with growth opportunities, Melanie Grossman's extensive experience and strategic insight will be invaluable assets. The company's leadership is optimistic that under her guidance, CytoSorbents can navigate the complexities of the healthcare market and continue its mission to improve patient outcomes through innovative medical solutions.