CytoSorbents Corporation has announced a 15-year lease agreement for 48,500 square feet on College Road East, scheduled to begin on June 1.
The immunotherapy company currently based in Monmouth Junction is best known for its CytoSorb blood purification technology to treat deadly inflammation in critically-ill and cardiac surgery patients. Its new Forrestal Center facility will accommodate U.S.-based administrative, clinical, commercialization, manufacturing, and research and development activities.
“We are incredibly pleased to work with National Business Parks to lease the facility at 305 College Road East, which has a solid existing infrastructure to meet our unique operational needs,” president and COO Vincent Capponi said in a statement. “With other modifications that will be made to the space, we will be able to consolidate all of our operations in one building and allow the launch of new product lines.
“The changes we are planning will also allow us to increase our CytoSorb production from our current $80 million annual capacity to approximately $300 to $400 million annually to support our future growth while allowing us to achieve further economies of scale.”
The company plans to continue using its existing manufacturing facility on Deer Park Drive in Monmouth Junction through the end of 2022. “As we bring our new manufacturing facility online next year, we plan to continue utilizing our existing Deer Park manufacturing facility in Monmouth Junction, NJ, exiting in a staged fashion between now and December 31, 2022, in close cooperation with our landlord, Princeton Corporate Plaza,” Capponi said.
“We look forward to welcoming CytoSorbents to our 305 College Road East property early this summer,” National Business Parks COO Vincent Marano said in a statement. “We are excited to work closely with CytoSorbents to customize the space to be the perfect combination of laboratory, device assembly, and administrative offices.”
CytoSorbents Inc. (CTSO), 7 Deer Park Drive, Suite K, Monmouth Junction 08852. 732-329-8885. Phillip Chan, CEO. www.cytosorbents.com.