Cerus to Pony up $34.5 Million to Settle Dispute With Baxter

Cerus will immediately pay $34.5 million to Baxter Capital and provide a promissory note for $4.5 million, payable with interest in December 2006, to end a legal battle. The agreement comes as Concord-based Cerus also announced a restructuring of its agreement with Baxter International over Cerus' Intercept Blood System, which cleans donated blood of pathogens such as bacteria, HIV, and hepatitis B and C viruses.

San Francisco Business Times (http://www.bizjournals.com/sanfrancisco/stories/2005/02/14/newscolumn3.html)