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Cerus Corporation Announces Follow-on Award of U.S. Department of Defense Funding for Development of Pathogen Reduced, Lyophilized Cryoprecipitate
Additional $8.7 million funding to support advancement towards FDA registration and full-scale product commercialization CONCORD, Calif.--(BUSINESS WIRE)--
About this update from Cerus Corporation
[{"type":"text","content":"\nAdditional $8.7 million funding to support advancement towards FDA registration and full-scale product commercialization\n\n\n CONCORD, Calif.--(BUSINESS WIRE)--\nCerus Corporation (Nasdaq: CERS) today announced that it has been awarded an additional $8.7 million contract amendment to the original $9.1 million contract by the U.S. Department of Defense (DoD) Industrial Base Analysis and Sustainment (IBAS) program for the development of pathogen reduced, lyophilized cryoprecipitate (“LyoCryo”) to treat bleeding due to trauma.\n\n\nCerus’ LyoCryo product is being designed for shelf stability, rapid availability, and portability, enabling administration to patients in remote environments with the aim of increasing survival from traumatic injury bleeding. Optimizing survival and recovery of military personnel with combat-related injury is a priority for the Army’s Combat Casualty Care Research Program. For civilians, trauma with massive bleeding is the leading cause of death for people under the age of 45 years in the U.S. The “Golden Hour” is the critical time a bleeding patient must be resuscitated with blood transfusion to enhance survival, yet conventional blood products are not feasible for use in far-forward austere combat environments or at the point of injury. This additional funding will support the joint work by Cerus and the DoD to make a novel product accessible to patients in order to address a critical unmet need for early treatment of traumatic bleeding.\n\n\n“It has been an honor to partner with the DoD over the last several months as we have advanced development efforts for our LyoCryo product. We are gratified by the DoD’s decision to provide additional funding for this important project,” stated Dr. Laurence Corash, Cerus’ chief scientific officer and co-founder. “Massive hemorrhage in trauma remains a critical unmet need today, both in military and civilian settings. At Cerus, we are focused on enabling patient access to life-saving blood products when needed. LyoCryo is designed with the potential to deliver important clotting factors in a pathogen reduced, temperature stable format, thereby facilitating hemorrhage control on the battlefield as well as in other rural or remote settings, when time to transfusion is critical.”\n\n\nLyoCryo builds upon the INTERCEPT Blood System for Cryoprecipitation, which is us...