Cerus (NSDQ:CERS) said today that it exercised $46.6 million in additional options from its contract with the Biomedical Advanced Research & Development Authority, a part of the U.S. Dept. of Health and Human Services’ Office of the Assistant Secretary for Preparedness and Response.
Concord, Calif.-based Cerus is developing the Intercept blood system, a pathogen reduction device designed to inactivate a broad range of viruses, bacteria, parasites and leukocytes in donated blood. The company plans to use its newly-acquired funds to support the Phase III ReCePI study and a UK trial evaluating Intercept red blood cells in sickle cell disease patients undergoing exchange transfusion.
“The allocation of additional options, coupled with recent FDA feedback on the dossier of clinical data required for a possible future red cell PMA submission, confirm our next steps forward for Intercept red blood cells in the U.S.,” chief medical officer Richard Benjamin said in prepared remarks. “Importantly, funds have now been allocated to support our planned Phase III ReCePI study, which is designed to evaluate the efficacy and safety of Intercept RBCs to treat acute anemia in cardiovascular surgery patients.”
Cerus said the funding will also support development of the Intercept system to scale manufacturing of key components and enable expanded use of the device.
The company could get as much as $186 million from the full 5-year BARDA contract. Cerus has exercised $88.4 million from the contract, to date.
Shares in the company dropped last week after Cerus missed expectations on Wall Street with its 1st quarter results.