Press Release Details

Cerus and BioOne Enter Agreement for Commercialization of INTERCEPT Plasma; BioOne to Market Pathogen Inactivation for Both Platelets and Plasma in Asian Region

June, 06 2005

CONCORD, Calif., Jun 06, 2005 (BUSINESS WIRE) -- Cerus Corporation (NASDAQ:CERS) today announced that it has entered into a definitive agreement with BioOne Corporation for commercialization of the INTERCEPT Blood System for plasma in parts of Asia. Certain direct and indirect subsidiaries of Baxter International Inc. were also parties to the transaction.

Under the terms of the agreement, BioOne, headquartered in Tokyo, will market and distribute the INTERCEPT Blood System for plasma in Japan, China, Taiwan, South Korea, Thailand, Vietnam and Singapore, following their receipt of regulatory approval in each country. The agreement is subject to approval by the shareholders of BioOne following completion of an independent appraisal of the transaction in accordance with Japanese law. In 2004, BioOne entered a similar agreement with Cerus and Baxter for commercialization of the INTERCEPT Blood System for platelets.

Cerus previously received an up-front payment of $3 million in connection with signing the letter of intent for this transaction. Including that payment, the agreement provides for Cerus to receive potential up-front and milestone payments totaling approximately $33 million in cash and BioOne equity. In addition, BioOne will pay Cerus and Baxter royalties on future product sales.

"We are pleased to expand our relationship with BioOne to include plasma commercialization," said Claes Glassell, president and chief executive officer of Cerus. "Partnering with organizations like BioOne is a critical part of our strategy for realizing the full potential of the INTERCEPT Blood System, and this agreement brings us one step closer to delivering improved blood safety to patients around the world."

ABOUT THE INTERCEPT BLOOD SYSTEM

Cerus Corporation is collaborating with subsidiaries of Baxter International Inc. on the INTERCEPT Blood System, designed to target and inactivate blood-borne pathogens, such as HIV and hepatitis B and C, as well as harmful white blood cells, while leaving intact the therapeutic properties of donated blood components. Based on Cerus' Helinx technology, the INTERCEPT Blood System inactivates a broad array of pathogens and offers the potential to inactivate untested-for and emerging pathogens, before they become a major transfusion risk to patients. The INTERCEPT Blood System for plasma has been evaluated in three Phase III trials, and a CE Mark application is currently in preparation for European submission. The INTERCEPT Blood System for platelets is approved for use in the European Union.

ABOUT CERUS

Cerus Corporation is developing novel products for cancer, infectious disease and blood safety based on multiple, innovative technology platforms. The company is building a pipeline of next generation cancer immunotherapies by combining its proprietary attenuated Listeria vector platform with promising disease antigens. These products are designed to stimulate innate and T cell immune pathways, generating highly potent anti-tumor responses. Cerus is applying its Helinx technology to develop the INTERCEPT Blood System, which is designed to enhance the safety of blood components through pathogen inactivation. The company's strategy is to leverage the broad potential of its technologies and products through alliances. Cerus' partners to date include MedImmune and Johns Hopkins University for cancer immunotherapy, and Baxter International and BioOne for the INTERCEPT Blood System.

Helinx is a trademark of Cerus Corporation.

Baxter and INTERCEPT are trademarks of Baxter International Inc.

Statements in this news release regarding the company's relationship with BioOne Corporation, including fulfillment of contractual commitments and the potential outcome of the collaboration, as well as statements concerning potential regulatory approvals, product development and commercialization and the company's relationship with subsidiaries of Baxter International Inc. 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 risks and uncertainties inherent in developing biotechnology products based on new technologies, the limited resources and operating history of BioOne, the timing and results of clinical trials and other development activities, market acceptance of our products, actions by regulatory authorities at any stage of the development process, the availability of governmental or third party reimbursement for the use of our products, the size of the market for our products, competitive conditions, manufacturing capabilities, our reliance on our relationship with Baxter and other factors discussed in the company's Form 10-K/A for fiscal 2004, as well as in other reports filed from time to time with the Securities and Exchange Commission. The company assumes no obligation to update any forward-looking statements.

SOURCE: Cerus Corporation

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