Press Release Details

Baxter Healthcare Purchase $9.5 Million of Cerus Corporation Convertible Preferred Stock

March, 04 1999
Cerus Corporation (Nasdaq: CERS) announced today that Baxter Healthcare Corporation has purchased $9.5 million of Series B convertible preferred stock. The preferred stock is convertible after one year from the date of purchase, at Baxter's option, into 332,700 shares of the company's common stock. Cerus has the option to redeem the preferred stock at the issue price at any time prior to conversion.

Cerus Corporation is developing systems designed to enhance the safety of blood transfusions by inactivating pathogens in blood components (platelets plasma and red blood cells used for transfusion) and by inactivating white blood cells, which are responsible for a variety of adverse transfusion reactions. The company's platform technologies, which prevent viral, bacterial and cellular replication, may have potential applications in the health care field beyond pathogen inactivation in blood components.

Cerus Corporation is collaborating with the Fenwal Division of Baxter Healthcare Corporation to develop, manufacture and market pathogen inactivation systems for blood components used for transfusion. Baxter, a global medical products and services company, focuses on critical therapies for life-threatening conditions. Baxter is a leader in technologies related to blood and the circulatory system. The Fenwal Division develops, manufactures and markets products and services for the collection, separation, storage and transfusion of blood and its components.

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