Press Release Details

Cerus Corporation Announces $25 Million Private Placement of Common Stock

December, 21 1999

CONCORD, Calif., Dec. 21 /PRNewswire/ -- Cerus Corporation (Nasdaq: CERS) announced today that it has entered into definitive agreements for the sale of an aggregate of 1,000,000 newly issued shares of Cerus Corporation Common Stock to selected institutional and other accredited investors, including Baxter Healthcare Corporation. The purchase price per share is $25. The company intends to file with the SEC a resale registration statement relating to the privately placed shares, and closing of the financing is conditioned upon the effectiveness of the registration statement. Prudential Vector Healthcare Group, a unit of Prudential Securities Incorporated, assisted Cerus in the financing.

"We intend to use the proceeds from this financing to support our four programs in clinical trials, including Phase 3 clinical trials of our systems to inactivate viruses, bacteria and other pathogens in platelet concentrates and fresh frozen plasma," said Cerus President and Chief Executive Officer Stephen Isaacs. "In addition, the proceeds will help fund the development of new applications for our core technologies."

Cerus Corporation is developing systems to inactivate pathogens in platelets, plasma and red blood cells intended for transfusion. In addition, Cerus is developing a system to treat source plasma used for fractionation into various plasma products. The company's platform technologies, which prevent viral, bacterial and other cellular replication, have potential applications in the health care field beyond pathogen inactivation in blood components. Cerus has collaboration agreements with Baxter and the Consortium for Plasma Science.

This news release contains forward-looking statements that involve risks and uncertainties. Actual results could differ materially from the above forward-looking statements as a result of certain factors, including uncertainties regarding product development and other factors discussed in the company's 1998 Annual Report on Form 10-K.

Contact: Stephen Isaacs, President and CEO, or Greg W. Schafer, CFO, both of Cerus Corporation, 925-603-9071; or Ana Kapor of Noonan/Russo Communications, Inc., 415-677-4455, ext. ext. 207, for Cerus Corporation

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