Monmouth Junction, NJ – July 2, 2008

MedaSorb Technologies Corporation Raises $4.45 Million; Funds to Be Used for Current Sepsis Clinical Study and to Prepare for CE Mark Application

MedaSorb Technologies Corporation, a medical device company focused on the development of its platform technology for the removal of toxins from blood and physiologic fluids, announced today the closing of a $4.45 million private placement of its Series B 10% Cumulative Convertible Preferred Stock. The funding is targeted for its Sepsis Study currently underway in Germany. In addition, the funding will allow MedaSorb to support the CE Mark application process and position it for commercialization.

The private placement was led by the NJTC Venture Fund. A new venture capital participant in the investment was Cahn Medical Technologies, LLC, as well as previous institutional investors, Alpha Capital and Ellis International. The amount raised includes $175,000 in principal debt that was converted into the placement.

"Working to Save Lives is our number one goal, and we believe our adsorbent technology represents a novel and effective adjunctive therapeutic approach to treating sepsis," said Al Kraus President/CEO. "We believe this financing demonstrates a strong interest in the potential of our technology, and will enable us to continue our on going clinical study in Europe enrolling up to 80 patients. We anticipate submitting clinical results in 2009 and will seek CE Mark regulatory approval."

The company has identified multiple potential applications/opportunities for its technology and believes it is well positioned for success in creating blood purification solutions for patients and physicians

About Sepsis
Sepsis is a condition that can result from the body's over-response to infection or injury. Sepsis has a mortality rate of up to 60% and affects approximately 2 million patients per year in the U.S. and Europe alone. The cost to treat these patients is in excess of $36 Billion. It is the second most frequent cause of death in hospitals outside the cardiac ICU. Severe sepsis is often more dangerous than the initial infection and, without rapid diagnosis and intervention, can develop within a matter of hours, leading to septic shock which can cause temporary or permanent damage to multiple organs or even death.

About MedaSorb
MedaSorb Technologies Corporation is a medical device company preparing to commercialize blood purification technology that effectively removes toxic compounds from blood and physiologic fluids. MedaSorb's initial products, CytoSorb and BetaSorb, are known medically as hemoperfusion devices and incorporate proprietary adsorbent polymer technology. Management believes the potential healthcare applications for its products include: adjunctive treatment of sepsis, prevention of damage to organs donated for transplant prior to organ harvest, prevention of post-operative complications of cardiac surgery, and the short- and long-term treatment of kidney failure. MedaSorb is headquartered in Monmouth Junction, New Jersey. For more information, visit www.medasorb.com.