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): October
22, 2008
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 of incorporation)
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(Commission
File Number)
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(I.R.S.
Employer Identification Number)
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7
Deer Park Drive, Suite K, Monmouth Junction, New Jersey
08852
(Address
of principal executive office) (Zip Code)
(732)
329-8885
Registrant’s
telephone number, including area code:
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):
[
] Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
[
] Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[
] Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
[
] Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13c-4(c))
Item
5.02.
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Departure
of Directors or Principal Officers; Election of Directors; Appointment
of
Certain Officers; Compensatory Arrangements of Certain Officers.
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On
October 22, 2008, Al Kraus submitted a letter of resignation notifying us that
he will resign his position as President and Chief Executive Officer of MedaSorb
Technologies Corporation (the “Company”), effective December 31, 2008. He will,
however, remain as a member of the Board of Directors of our company. Mr. Kraus’
resignation was not the result of any disagreement with the Company or any
officers or directors of the Company.
Effective
upon Mr. Kraus’ resignation on December 31, 2008, Mr. Phillip Chan, M.D., Ph.D.
will become the interim Chief Executive Officer.
Phillip
Chan, M.D., Ph.D., Interim Chief Executive Officer and Director
Dr.
Chan
is a current MedaSorb Board Director and Partner at NJTC Venture Fund,
specializing in the investment and development of therapeutic and medical device
companies. He is a Board-certified Internal Medicine physician, trained at
the
Beth Israel Deaconess Medical Center at Harvard, and received his M.D. and
Ph.D.
from Yale University Medical School.
As
of the
date of this filing, there has not been any material plan, contract or
arrangement (whether or not written) to which Mr. Chan is a party in connection
with this appointment as a director and an officer of this Company.
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:
October 28, 2008
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MEDASORB
TECHNOLOGIES CORPORATION
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By:
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/s/ David
Lamadrid
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David
Lamadrid,
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Chief
Financial Officer
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