Press Release Details

Cerus Corporation Completes $25 Million Private Placement of Common Stock

February, 17 2000
Cerus Corporation (Nasdaq: CERS) announced today that it has closed the sale of 1,000,000 newly issued shares of its common stock to selected institutional and other accredited investors, including Baxter Healthcare Corporation. The private placement was originally announced on December 21, 1999. A resale registration statement covering these shares is in effect. Prudential Vector Healthcare Group, a unit of Prudential Securities Incorporated, assisted Cerus in the financing. With the completion of this financing, the company has cash and investments of approximately $61.8 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 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.

Cerus Corporation is developing systems to inactivate pathogens in platelets, plasma and red blood cells intended for transfusion. Baxter Healthcare Corporation is the company's development and commercialization partner for these activities. In addition, Cerus is developing a system to improve the outcome of bone marrow transplants and other medical applications of the company's platform technologies.

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.

    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