Cerus Corporation Receives Milestone Payment From BioOne.European CE Mark Approval for the INTERCEPT Blood System for Plasma Prompts Event CONCORD, Calif. -- Cerus Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CERS) announced today the receipt of a $5 million cash milestone payment from BioOne Corporation. The milestone payment was prompted by Cerus' recent receipt of CE mark regulatory approval for the INTERCEPT Blood System for plasma in Europe. In addition to the cash payment, Cerus expects to receive an additional milestone payment of BioOne preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. worth $5 million in early 2007 pursuant to the terms of its agreement with BioOne. Upon receipt of the cash milestone payment, Cerus forwarded $0.5 million to Baxter Healthcare Corporation in accordance with an agreement relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the BioOne commercialization rights. BioOne has commercialization rights for the INTERCEPT Blood System for platelets and plasma in parts of Asia. The agreements between Cerus and BioOne provide for milestone payments to Cerus, as well as royalties based upon sales of the INTERCEPT Blood System for platelets and plasma. ABOUT CERUS Cerus Corporation is a biopharmaceutical company that develops and commercializes novel, proprietary products in the fields of blood safety and immunotherapy to provide safer, more effective medical options to patients in areas of substantial unmet medical needs. In the field of immunotherapy, the company is employing its proprietary attenuated Attenuated Alive but weakened; an attenuated microorganism can no longer produce disease. Mentioned in: Tuberculin Skin Test attenuated having undergone a process of attenuation. Listeria Listeria /Lis·te·ria/ (lis-ter´e-ah) a genus of gram-negative bacteria (family Corynebacterium); L. monocyto´genes causes listeriosis. Lis·te·ri·a n. vaccine platform to develop a series of novel therapies to treat cancer, and it is applying its proprietary Killed But Metabolically Active technology platform in research and development of prophylactic prophylactic /pro·phy·lac·tic/ (pro?-fi-lak´tik) 1. tending to ward off disease; pertaining to prophylaxis. 2. an agent that tends to ward off disease. pro·phy·lac·tic n. and therapeutic vaccines for infectious diseases infectious diseases: see communicable diseases. . In the field of blood safety, the company is developing and commercializing the INTERCEPT Blood System, which is based on the company's proprietary Helinx technology and is designed to enhance the safety of donated blood components by inactivating viruses, bacteria, parasites and other pathogens, as well as potentially harmful white blood cells White blood cells A group of several cell types that occur in the bloodstream and are essential for a properly functioning immune system. Mentioned in: Abscess Incision & Drainage, Bone Marrow Transplantation, Complement Deficiencies . INTERCEPT, INTERCEPT Blood System and Helinx are trademarks of Cerus Corporation. This press release contains forward-looking statements. For this purpose, any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements, including, without limitation, statements including references to the receipt of milestone payments, and the timing thereof. Words such as "estimate," "expect" and similar words or expressions or the negative of these words or expressions are intended to identify forward-looking statements. Actual results could differ materially from these forward-looking statements as a result of certain factors, including, without limitation, the risk that the offering will not be completed due to failure to satisfy the closing conditions related to the offering or other reasons, as well as other risks detailed in the company's filings with the Securities and Exchange Commission, including the company's Quarterly Report on Form 10-Q Form 10-Q See 10-Q. for the fiscal quarter ended September 30, 2006. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company does not undertake any obligation to update any forward-looking statements as a result of new information, future events, changed assumptions or otherwise. |
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