UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 20549
________________________
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the
Securities
Exchange Act of 1934
Date
of
Report (Date of earliest event reported): December 5, 2006
MEDASORB
TECHNOLOGIES CORPORATION
(Exact
name of registrant as specified in its charter)
Nevada
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000-51038
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98-0373793
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(State
or other jurisdiction
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(Commission
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(I.R.S.
Employer
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of
incorporation)
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File
Number)
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Identification
Number)
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7
Deer
Park Drive, Suite K, Monmouth Junction, New Jersey 08852
(Address
of principal executive office) (Zip Code)
Registrant’s
telephone number, including area code: (732)
329-8885
Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2.below):
o |
Written
communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
|
o |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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o |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act
(17
CFR 240.14d-2(b))
|
o |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR
240.13c-4(c))
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Item
5.02.
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Departure
of Directors or Principal Officers; Election of Directors; Appointment
of
Principal Officers; Compensatory Arrangements of Certain
Officers.
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On
September 5, 2006, MedaSorb agreed to issue to each of Dr. James Winchester,
its
Chief Medical Officer, and Vincent Capponi, its Chief Operating Officer, an
option to purchase 50,000 shares of its Common Stock in the event that no later
than December 31, 2006, MedaSorb files an investigational device exemption
(IDE)
application with the Food and Drug Administration with respect to the use of
its
CytoSorbTM
device
for the treatment of sepsis. The options would be issued on December 31, 2006,
with an exercise price equal to the last reported sales price of MedaSorb Common
Stock on the OTC Bulletin Board as of that date. The options would vest
immediately as to one-third of the shares under the option, on December 31,
2007
with respect to an additional one-third of those shares, and on December 31,
2008 with respect to the remaining one-third of the shares.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant
has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
Date:
December 9, 2006
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MEDASORB
TECHNOLOGIES CORPORATION
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By:
/s/ Al
Kraus
Al
Kraus,
President
and Chief Executive Officer
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