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Nephros Reports 2011 Fourth Quarter and Full Year Financial Results
Date:3/22/2012

RIVER EDGE, N.J., March 22, 2012 /PRNewswire/ -- Nephros, Inc. (OTC Bulletin Board: NEPH), a medical device company developing and marketing filtration products for therapeutic applications, infection control, and water purification, announced today financial results for the three months and full year ended December 31, 2011.

2011 Highlights

  • Completed $3.2 million financing
  • Increased ultrafiltration product revenues  to approximately $618,000, an increase of 24% from prior year period
  • Signed licensing agreement with Bellco S.r.l. for mid-dilution dialysis product and received initial euro 500,000 payment
  • Received FDA 510k clearance to market additional ultrafiltration products in U.S.
  • Received clearance to market ultrafiltration products in Canada
  • Filed new 510k application for our hemodiafiltration system
  • Engaged Joseph Cervia, M.D. as strategic consultant
  • Engaged DHR international to recruit permanent CEO

"2011 was a pivotal year for Nephros in which we were active in monetizing value for shareholders and solidifying a platform for commercial momentum of our ultrafiltration products while continuing our efforts to obtain marketing clearance for our hemodiafiltration system in the U.S.," said Dr. Paul Mieyal, acting CEO of Nephros.  "The licensing transaction with Bellco has provided near-term funding to support the commercialization of our ultrafiltration products, and we are excited to leverage the talents and experience of Shane Sullivan and Joseph Cervia toward an expanding sales and marketing effort that we expect to yield tangible revenue results."

Financial Performance for the Year Ended December 31, 2011

Revenues for the twelve months ended December 31, 2011 were approximately $2,214,000 compared to
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SOURCE Nephros, Inc.
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