CERUS CORPORATION (NASDAQ:CERS) Files An 8-K Entry into a Material Definitive AgreementItem 1.01 Entry into a Material Definitive Agreement.
On April 13, 2017, the Company entered into an Amended and Restated Supply and Manufacturing Agreement with Porex Corporation, or “Porex,” effective as of April 1, 2017, to extend the current supply and manufacturing agreement until December 31, 2019. The Company is no longer subject to a minimum annual purchase requirement, however, Porex has the right to terminate the agreement, upon twelve months’ prior written notice, if annual production falls below a mutually agreed threshold. Unit pricing for platelet wafers and plasma disks are set at certain amounts over the initial term of the agreement, with decreasing pricing based on volume. Unit pricing may be adjusted following the initial term, upon mutual agreement of the parties and subject to a maximum increase. The agreement will continue until December 31, 2019 and will automatically renew for an additional two-year term. The Company has the right to terminate the agreement at will, upon twelve months’ notice to Porex. Either party may terminate the agreement in the event of an uncured breach by the other party.
The foregoing is only a brief description of the material terms of the Porex agreement, does not purport to be a complete description of the rights and obligations of the parties thereunder and is qualified in its entirety by reference to the Porex agreement that will be filed as an exhibit to the Company’s quarterly report on Form 10-Q for the quarter ended June 30, 2017.
2
About CERUS CORPORATION (NASDAQ:CERS)
Cerus Corporation is a biomedical products company. The Company is engaged in developing and commercializing the INTERCEPT Blood System for blood safety. The Company operates through blood safety segment. The Company’s INTERCEPT Blood System is based on its technology for controlling biological replication, and is designed to reduce blood-borne pathogens in donated blood components intended for transfusion. The Company’s INTERCEPT Blood System is designed to target and inactivate blood-borne pathogens, such as viruses, including human immunodeficiency virus (HIV), West Nile, Severe acute respiratory syndrome (SARS), hepatitis B and C; bacteria and parasites, as well as harmful white blood cells, while preserving the therapeutic properties of platelet, plasma and red blood cell transfusion products. The Company’s INTERCEPT Blood System is for use with blood components, including plasma, platelets, and red blood cells. CERUS CORPORATION (NASDAQ:CERS) Recent Trading Information
CERUS CORPORATION (NASDAQ:CERS) closed its last trading session up +0.07 at 4.18 with 513,129 shares trading hands.