Cerus Corporation and Shandong Zhongbaokang Medical Implements Partner to Establish Joint Venture in China
February 24 2021 - 5:00PM
Business Wire
Joint Venture Will Enable Cerus to Partner with
Leader in Transfusion Medicine to Bring INTERCEPT to the Mainland
China Transfusion Market
Cerus Corporation (Nasdaq: CERS) and Shandong Zhongbaokang
Medical Implements Co. Ltd. (ZBK) today announced that they are
forming a joint venture (JV) with the intent to develop, obtain
regulatory approval for, manufacture and commercialize the
INTERCEPT Blood System for platelets and red blood cells in China.
The JV, which will be named “Cerus ZBK Biomedical” (CEZB), will be
headquartered in Zibo, Shandong Province in eastern China.
“We are honored to join forces with ZBK in China, furthering our
mission to make INTERCEPT the standard of care for patients
globally,” said Pascal Maillard, Cerus’ vice president of
commercial operations for the Asia Pacific region. “We believe that
ZBK’s experience with local clinical and regulatory requirements,
ISO-certified manufacturing infrastructure, and existing sales
channels will facilitate accelerated and broad access to INTERCEPT
across China’s transfusion medicine community.”
China represents one of the largest potential blood transfusion
markets globally for INTERCEPT, with red blood cell collections in
excess of 23 million unit-equivalents each year, and an estimated
production of 1.8 million platelets doses per year. The healthcare
system in China continues to grow at a rapid pace, enabling
expanded access to blood components expected to benefit from
pathogen inactivation.
“We are delighted to collaborate with Cerus to work to bring
INTERCEPT to China as the market for platelets continues to grow
rapidly,” said Mr. Xu Junfeng, chief executive officer of ZBK.
“INTERCEPT-treated platelets would address an unmet clinical need
in the blood transfusion market in China and would offer an
important new, prospective measure of safety against known and
emerging pathogens during this new era of pandemic preparedness
planning.”
ZBK is a subsidiary of the Taibao Group and a leading developer,
manufacturer and marketer of blood transfusion, blood safety, and
infusion products in China. ZBK markets and sells its products
through its own sales force network to over 280 blood centers
nationwide.
Under the terms of the JV agreement, Cerus and ZBK are the sole
shareholders in CEZB, with Cerus owning a majority (51%) of the
entity. Cerus anticipates that it will consolidate the results of
CEZB in its consolidated financial statements. Additionally, Cerus
will contribute an exclusive license to the INTERCEPT Blood System
for platelets and red blood cells for CEZB to market across China.
ZBK will contribute its significant local expertise to help perform
necessary clinical studies and seek regulatory approval. Ultimately
it is expected that ZBK will establish local manufacturing and
leverage its commercial expertise and presence in the region.
ABOUT SHANDONG ZHONGBAOKANG MEDICAL IMPLEMENTS
Established in 1996, Shandong Zhongbaokang Medical Implements
Co., Ltd, the key enterprise of the Taibao Group, is a professional
manufacturer specialized in the research, development, production,
and sales of blood transfusion equipment whose main products range
from Virus Inactivation Plasma Transfusion Filters, Leukocyte
Removal Filters, Sterile Infusion Sets with Needles, precision
Liquid Medicine Filter, Plasmapheresis Sets and Centrifuge
Apparatus, Lightproof Infusion Sets to Needleless Injectors. All of
ZBK products comply with international quality standards and are
widely used in a variety of different markets throughout the world.
For more information about ZBK, visit www.zbkmedical.com.
ABOUT CERUS
Cerus Corporation is dedicated solely to safeguarding the
world’s blood supply and aims to become the preeminent global blood
products company. Headquartered in Concord, California, the company
develops and supplies vital technologies and pathogen-protected
blood components to blood centers, hospitals, and ultimately
patients who rely on safe blood. The INTERCEPT Blood System for
platelets and plasma is available globally and remains the only
pathogen reduction system with both CE mark and FDA approval for
these two blood components. The INTERCEPT red blood cell system is
under regulatory review in Europe, and in late-stage clinical
development in the US. Also in the US, the INTERCEPT Blood System
for Cryoprecipitation is approved for production of Pathogen
Reduced Cryoprecipitated Fibrinogen Complex, a therapeutic product
for the treatment and control of bleeding, including massive
hemorrhage, associated with fibrinogen deficiency. For more
information about Cerus, visit www.cerus.com and follow us on
LinkedIn.
INTERCEPT and the INTERCEPT Blood System are trademarks of Cerus
Corporation.
FORWARD LOOKING STATEMENTS
Except for the historical statements contained herein, this
press release contains forward-looking statements concerning Cerus’
products, prospects and expected results, including statements
relating to Cerus’ joint venture with ZBK and the expected benefits
to Cerus thereof; Cerus’ mission to make INTERCEPT the standard of
care for patients globally; Cerus’ belief that ZBK’s relevant
experience will facilitate accelerated and broad access to
INTERCEPT for the Chinese transfusion medicine community; China
representing one of the largest potential blood transfusion markets
globally for INTERCEPT; INTERCEPT-treated platelets addressing an
unmet clinical need in the blood transfusion market in China;
Cerus’ expectation that it will consolidate the results of CEZB in
its consolidated financial statements; and other statements that
are not historical fact. Actual results could differ materially
from these forward-looking statements as a result of certain
factors, including, without limitation: risks related to Cerus’
ability to maintain its joint venture with ZBK and to achieve its
intended benefits; Cerus’ ultimate reliance on ZBK and the joint
venture to develop, seek regulatory approval for, and if approved,
to market, sell, distribute and maintain the INTERCEPT Blood System
for platelets and red blood cells in China; risks related to the
uncertain and time-consuming development and regulatory process,
including the risks that the INTERCEPT Blood System for platelets
and red blood cells may not receive the requisite regulatory
approvals to be commercialized in China in a timely manner or at
all; risks related to Cerus’ and ZBK’s ability to demonstrate to
the transfusion medicine community and other health care
constituencies in China and elsewhere that pathogen reduction and
the INTERCEPT Blood System is safe, effective and economical; risks
related to Cerus’ and ZBK’s ability to maintain compliance with
applicable law related to the conduct of their respective
businesses and that of the joint venture; risks related to changes
in the regulatory landscape relating to conduct of business in
foreign jurisdictions, including in China; risks related to adverse
market and economic conditions, including continued or more severe
adverse fluctuations in foreign exchange rates and/or continued or
more severe weakening in economic conditions resulting from the
evolving effects of the COVID-19 pandemic or otherwise in the
markets where the INTERCEPT Blood System is sold and is anticipated
to be sold; the risks that the INTERCEPT Blood System does not
inactivate all known pathogens, and the inability of the INTERCEPT
Blood System to inactivate certain pathogens may limit its market
adoption; risks associated with the ultimate duration and severity
of the COVID-19 pandemic and resulting global economic and
financial disruptions; the impact of legislative or regulatory
healthcare reforms that may make it more difficult and costly for
Cerus, ZBK and/or the joint venture to develop, obtain regulatory
approval for, produce, market and distribute the INTERCEPT Blood
System; risks related to future opportunities and plans, including
the uncertainty as to the ultimate success of Cerus’ plans for the
INTERCEPT Blood System in China as well as globally, as well as
other risks detailed in Cerus’ filings with the Securities and
Exchange Commission, including under the heading “Risk Factors” in
Exhibit 99.1 to Cerus’ Current Report on Form 8-K, filed with the
SEC on December 11, 2020. In addition, to the extent that the
COVID-19 pandemic adversely affects Cerus’ business and financial
results, it may also have the effect of heightening many of the
other risks and uncertainties described above. Cerus disclaims any
obligation or undertaking to update or revise any forward-looking
statements contained in this press release.
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version on businesswire.com: https://www.businesswire.com/news/home/20210224006094/en/
Matt Notarianni – Senior Director, Investor Relations Cerus
Corporation 925-288-6137
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