Press Release Details

Cerus Corporation Announces $60 Million Private Placement of Common Stock

August, 29 2000

CONCORD, Calif., Aug. 29 /PRNewswire/ --

Cerus Corporation (Nasdaq: CERS), a pioneer in systems to enhance the safety of the world's blood supply, today announced that it has closed the sale of 1,200,000 newly issued shares of its common stock to an institutional investor at a per share purchase price of $50. The company intends to file with the SEC a registration statement relating to the resale of the privately placed shares. With the completion of this financing, the company has cash and investments of approximately $106 million.

Cerus expects to use the net proceeds from the private placement to fund research and development, including clinical trials, and for general and administrative expenses, capital expenditures and working capital.

"This financing significantly strengthens our balance sheet and provides additional resources to fund our research and development programs," said Stephen Isaacs, Cerus president and chief executive officer. "It is a pivotal time for Cerus, as we prepare to file for regulatory approval for the Intercept Platelet System in Europe, and are working towards completion of Phase 3 clinical trials of the Intercept Platelet System and the Intercept Plasma System in the United States."

This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such an offer, solicitation or sale would be unlawful prior to qualification under the securities laws of any such state.

About Cerus

Cerus Corporation is developing systems to enhance the safety of the world's blood supply. These systems are based on Cerus' Helinx technology, which has the ability to prevent the replication of viruses, bacteria and other pathogens, and to control cellular proliferation. The Concord, Calif.-based biopharmaceutical company is currently conducting the first human clinical trials of pathogen-inactivated platelets, as well as clinical trials of fresh frozen plasma (FFP) and red blood cells, in collaboration with Baxter Healthcare Corporation. Cerus is exploring new applications for the company's proprietary technologies in its effort to address a number of worldwide health concerns including blood safety, cancer and hematological disorders.

NOTE: Helinx is a trademark of Cerus Corporation. Intercept is a trademark of Baxter International, Inc.

Statements in this news release regarding product development, clinical development and use of proceeds are 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 the uncertainty of the timing and results of any clinical trials, action by regulatory authorities, the uncertainty of market acceptance of any products, competitive conditions, the uncertainty of future financing and other factors discussed in the company's 1999 Annual Report on Form 10-K.

    Global Headquarters

  • 1220 Concord Avenue
  • Concord, CA US 94520
  • +1 925.288.6000

    European Headquarters

  • Stationsstraat 79-D
  • 3811 MH Amersfoort, Netherlands
  • +31 (0) 33 49 60 600