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Investing.com -- Cerus Corporation (NASDAQ:CERS) stock rose 3.3% after the company announced it has been awarded an additional $7.2 million contract amendment by the U.S. Department of Defense (DoD) for the development of lyophilized Pathogen Reduced, Cryoprecipitated Fibrinogen Complex.
The new funding supplements approximately $18 million already provided under Cerus’ existing DoD contract to develop a room-temperature, shelf-stable version of the product (LyoIFC) for use in austere military environments. The additional funds will support CRYO-FIRST, a randomized study comparing the use of pre-thawed INTERCEPT Fibrinogen Complex to conventional cryoprecipitated antihemophilic factor in trauma patients with hemorrhagic shock.
Dr. Laurence Corash, Cerus’ founder and chief scientific officer, stated that the study will build upon the current clinical adoption of IFC by U.S. hospitals and could provide critical information about treating acute trauma patients with fibrinogen deficiency.
The company believes LyoIFC could enable early treatment of severely bleeding patients pre-hospital and during medical evacuations of wounded soldiers, potentially improving survival rates. Hemorrhage remains a leading cause of preventable death in trauma patients.
Since receiving the initial DoD funding in November 2022, Cerus has consulted with the FDA about the regulatory pathway for LyoIFC, scaled up production processes, and provided prototype materials to the DoD for evaluation.
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