Feb 9 Cerus Corp (CERS.O) said it entered into an agreement with France's national blood transfusion service to develop its Intercept blood safety system, sending its shares up about 17 percent before the bell.
Under the agreement, the Etablissement Francais du Sang (EFS) will co-invest by contributing its facilities, personnel and resources in support of clinical and commercial product development, and both CE mark and French regulatory approvals.
EFS has certain royalty rights on future product revenue, the company added.
Late Monday, the company said the blood system met the main goal in an early-stage study and the results provided support to advance into late-stage clinical studies for European product approval.
The Intercept system is designed to reduce the risk of transfusion-transmitted diseases by inactivating a broad range of pathogens that may be present in donated blood.
Shares of the company closed at $2.02 Monday on Nasdaq. They were trading at $2.35 before the bell. (Reporting by Jennifer Robin Raj in Bangalore; Editing by Aradhana Aravindan)