O-STA

Baxter and Cerus Enter Agreement with Asian Partner for Commercialization of Intercept Blood System for Platelets

Agreement to Help Address the Need for a Safer Blood Supply in Asia

DEERFIELD, Ill., and CONCORD, Calif. (ots) - Subsidiaries of

Baxter International Inc. (NYSE: BAX) and Cerus Corporation (NASDAQ:

CERS) today announced that they have entered into a definitive

agreement with BioOne Corporation for commercialization of the

INTERCEPT Blood System for platelets in parts of Asia.

The INTERCEPT Blood System for platelets is designed to reduce the

risk of transfusion-transmitted diseases by inactivating certain

pathogens that may be present in donated platelets, such as bacteria,

HIV and the hepatitis C virus, as well as potential emerging and

migrating pathogens including West Nile Virus, SARS and malaria. The

technology is approved for use in Europe for platelets, with blood

centers in several European countries applying the INTERCEPT

technology to provide an additional layer of safety to their platelet

supply.

Under the terms of the agreement, BioOne, headquartered in Tokyo,

will market and distribute the INTERCEPT Blood System for platelets

in Japan, China, Taiwan, South Korea, Thailand, Vietnam and

Singapore, following their receipt of regulatory approval in each of

those countries. The agreement is subject to approval by the

shareholders of BioOne following completion of an independent

appraisal of the transaction in accordance with Japanese law.

"Patients remain at risk for transfusion-transmitted diseases despite

the introduction of blood donor screening and advanced testing

measures. This is evident through recent reports of patients

receiving the Hepatitis B virus, HIV as well as bacteria-related

sepsis through blood transfusions in certain parts of Asia," said Dr.

Akihiro Shimosaka, president and chief executive officer for BioOne.

"We welcome the opportunity to address this critical patient safety

need by partnering with Baxter and Cerus to offer a pathogen

inactivation system for platelets as a solution for a safer blood

supply in Asia."

More than one million platelet transfusions are performed annually in

the Asian territory covered by the agreement. Platelets support

blood clotting, which helps to prevent or stop bleeding, and are

usually transfused to patients undergoing chemotherapy, heart bypass

surgery and other major surgical procedures.

"Through this agreement, we are advancing toward our goal of global

availability of the INTERCEPT Blood System for platelets and helping

to further enhance the safety of the blood supply for patients

worldwide," said Claes Glassell, president and chief executive

officer, Cerus Corporation.

- Under the terms of the agreement, Baxter and Cerus each received an

up-front payment of $2.5 million. Each company will receive an

additional $7.5 million upon approval by BioOne shareholders, as well

as contingent milestone payments and royalties on future product

sales. In connection with this agreement, Cerus has also made an

approximate $1.2 million dollar equity investment in BioOne.

- BioOne was formed with the mission of improving the safety of blood

products in Asia. The founder, Dr. Akihiro Shimosaka, was formerly

head of licensing for Kirin Pharmaceuticals and was instrumental in

the formation and management of the highly successful Kirin-Amgen

joint venture, which developed and commercialized EPO and G-CSF in

Asia. BioOne is being funded by equity investments from major

Japanese venture capital firms and other corporations.

About Cerus

Cerus Corporation is collaborating with subsidiaries of Baxter

International Inc. on the INTERCEPT Blood System, designed to enhance

the safety of the world's blood supply by inactivating viruses,

bacteria, other pathogens and white blood cells. The INTERCEPT Blood

System is based on the company's Helinx technology for controlling

biological replication. The Concord, California-based company is

also pursuing a novel therapeutic vaccine platform to harness the

power of the immune system against cancer and infectious disease. In

collaboration with MedImmune, Inc., Cerus is developing a therapeutic

vaccine designed to target antigens expressed in breast, prostate and

colon cancer, as well as metastatic melanoma.

About Baxter

Baxter International Inc., through its subsidiaries, assists

health-care professionals and their patients with the treatment of

complex medical conditions, including cancer, hemophilia, immune

disorders, kidney disease and trauma. The company applies its

expertise in medical devices, pharmaceuticals and biotechnology to

make a meaningful difference in patients┬┤ lives.

Baxter and INTERCEPT are trademarks of Baxter International Inc.

Helinx is a trademark of Cerus Corporation

Statements in this news release regarding potential future payments

under the agreement and fulfillment of contractual commitments, as

well as statements concerning potential efficacy and safety of

products, potential regulatory approvals and product development and

commercialization are forward-looking statements that involve risks

and uncertainties. Actual results could differ materially from the

above forward-looking statements as a result of certain factors,

including the risks and uncertainties concerning the appraisal

procedure, BioOne shareholder approval and the limited resources of

BioOne and risks and uncertainties related to the timing and results

of clinical trials and other development activities, the

acceptability of any data by regulatory authorities, actions by

regulatory authorities at any stage of the development process,

manufacturing, market acceptance of any products, competitive

conditions and other factors discussed in each company's most recent

filings with the Securities and Exchange Commission, including Cerus'

Quarterly Report on Form 10-Q for the quarter ended March 31, 2004.

Cerus

Media and Investor Relations:

Alexandra Santos, (925) 288-6156

Baxter

Media

Tanya Tyska, (847) 270-4918

Cindy Resman, (847) 948-2815

Investor Relations:

Mary Kay Ladone, (847) 948-3371