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Prospector
Profile
1220-06
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| MedaSorb Technologies Corp. |
NAICS |
541710 |
| 7 Deer Park Drive, Suite K
Monmouth Junction, NJ 08852 |
Description |
Biotechnology |
| (732) 329-8885 |
Employees |
8 |
| http://www.medasorb.com/ |
Revenue |
(mil) |
0.0000 |
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Income |
(mil) |
-66.6510 |
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Assets |
(mil) |
3.4450 |
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Liability |
(mil) |
1.0820 |
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(for the year ended 2006-12-31) |
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Category:
Loss/Deficit
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Event:
MedaSorb Technologies Corp. had a net loss of $2,751,410 for the nine months ended September 30, 2007, substantially lower than the $6,851,614 net loss reported during the same period last year. For the third quarter ended September 30, 2007, the Company had a $588,827 net loss, also lower than the $645,703 net loss incurred during the third quarter of last year. The Company's balance sheet showed an accumulated deficit of $70,743,265 as of September 30, 2007. It also has stockholders' equity of $453,178 and working capital of only $17,391.
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Intellectual Property:
The Company relies on a combination of patents, trademarks, trade secrets and non-disclosure agreements to protect intellectual property. The Company holds 21 U.S. patents, some of which have foreign counterparts, and additional patent applications pending worldwide that cover various aspects of its technology. It also relies on non-disclosure and non-competition agreements with employees, consultants and other parties to protect trade secrets and other proprietary technology. The Company has applied for trademark protection of the names CytoSorb™ and BetaSorb™. [SEC Filing 10-KSB 03-30-07]
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Description:
The Company engages in the research and development of an adsorbent platform technology for removal of toxins from blood and physiologic fluids.
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Officers:
Al Kraus (Pres. & CEO); Vincent Capponi (COO); David Lamadrid (CFO); James Winchester (Chief Medical Officer);
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Auditor:
WithumSmith+Brown
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Securities:
Common Stock-Symbol MSBT.OB; OTC BB;
25,044,932 common shares outstanding as of November 15, 2007.
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