Cerus Obtains Exclusive Rights to INTERCEPT Blood System from Baxter

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Cerus Obtains Exclusive Rights to INTERCEPT Blood System from Baxter

by Barbara Kram, Editor | February 14, 2006
INTERCEPT Blood System
CONCORD, Calif., and DEERFIELD, Ill., February 13, 2006 -- Cerus Corporation (NASDAQ: CERS) and subsidiaries of Baxter International Inc. (NYSE:BAX) today announced that they have entered into a definitive agreement for Cerus to obtain Baxter's remaining commercial rights to the INTERCEPT Blood System for platelets and plasma effective February 1, 2006.

Cerus now has exclusive rights to the INTERCEPT Blood System for all three commonly transfused components: platelets, plasma and red blood cells, excluding rights in certain Asian countries for platelets and plasma.

"Cerus is now positioned to deliver on a new standard of blood safety with the INTERCEPT Blood System," said Claes Glassell, president and CEO of Cerus. "We strongly believe pathogen inactivation will have a significant impact on blood safety globally. We look forward to applying our expertise and focus to successfully commercializing the INTERCEPT Blood System."

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"We believe that Cerus is in a good position to assume lead responsibility for the commercialization of the INTERCEPT Blood System on a global basis," said Kevin McCulloch, general manager for Baxter's Transfusion Therapies business. "Consistent with our long-standing support for ensuring an adequate supply of the safest blood products possible, we will work closely with Cerus and our customers to ensure a smooth transition of responsibilities."

Under the agreement:
-Cerus has obtained exclusive commercial rights to market INTERCEPT Blood System for platelets and plasma worldwide, except in certain Asian countries in which rights have previously been granted to BioOne Corporation.
-Baxter will provide technical service, clinical education and select regulatory activities in Europe during the transition.
-Baxter will continue manufacturing responsibilities in support of Cerus'development and commercialization activities for the platelet system and plasma system through 2008.
-Baxter will receive royalties based on future sales of INTERCEPT Blood System for platelets and plasma. These royalty provisions replace the previous agreement where Cerus received a sharing of gross profit from Baxter sales.

This restructuring does not affect the relationship with the companies' Asian partner, BioOne Corporation. BioOne continues to maintain the commercial rights to market and distribute INTERCEPT Blood System for platelets and plasma in Japan, China, Taiwan, South Korea, Thailand, Vietnam and Singapore, following receipt of regulatory approval in each of those countries.