lease agreement

CytoSorbents to Lease New Global Headquarters in Princeton

CytoSorbents Corporation, a critical care immunotherapy leader commercializing its CytoSorb® blood purification technology to treat deadly inflammation in critically-ill and cardiac surgery patients around the world, announced the lease of its new global headquarters in Princeton. On March 26, the company entered into a new agreement with National Business Parks to lease approximately 48,500 square feet located at 305 College Road East at Princeton Forrestal Village. The mixed-use facility is expected to accommodate all U.S. administrative, clinical, commercialization, manufacturing, and research and development activities. The 15-year lease is expected to commence on June 1, 2021, subject to certain conditions.

Vincent Capponi, MS, president and chief operating officer of CytoSorbents stated, “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. 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.”

Capponi continued, “As we bring our new manufacturing facility online next year, we plan to continue utilizing our existing Deer Park manufacturing facility in Monmouth Junction, exiting in a staged fashion between now and Dec. 31, 2022, in close cooperation with our landlord, Princeton Corporate Plaza. As we move forward to our next stage of growth, we want to thank Kent Management of Princeton Corporate Plaza for their wonderful support and innovative solutions to meet our growing design and space needs over the past many years. We would not be where we are today without them.”

According to Vincent Marano, chief operating officer of National Business Parks, “We look forward to welcoming CytoSorbents to our 305 College Road East property early this summer. We are excited to work closely with CytoSorbents to customize the space to be the perfect combination of laboratory, device assembly, and administrative offices. We could not be more pleased that CytoSorbents has chosen our research and development community at College Park to fit its current needs, as well as to provide for its future growth.”

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