Exhibit 10.3
                                  HEMASURE INC.

                                 PROMISSORY NOTE

                                                          September 15, 1998
$5,000,000                                                Boston, Massachusetts


     For value received, the undersigned hereby promises to pay to FLEET
NATIONAL BANK (the "Bank"), or order, at the head office of the Bank at One
Federal Street, Boston, Massachusetts 02110, up to the principal amount of FIVE
MILLION DOLLARS ($5,000,000) or such lesser amount as shall equal the principal
amount outstanding hereunder on August 31, 2000 (the "Revolving Credit
Termination Date") in lawful money of the United States of America and in
immediately available funds, and to pay interest on the unpaid principal balance
hereof from time to time outstanding, at said office and in like money and
funds, for the period commencing on the date hereof until paid in full, at the
rates per annum and on the dates provided in that certain Revolving Credit and
Security Agreement dated as of the date hereof, by and between the undersigned
and the Bank (herein, as the same may from time to time be amended or extended,
referred to as the "Agreement").

     Upon the occurrence and during the continuance of an Event of Default (as
defined in the Agreement), interest on the unpaid principal amount hereof and
(to the extent permitted by law) on unpaid interest shall thereafter be payable
on demand at a rate per annum equal to two percent (2%) above the interest rate
otherwise in effect with respect to such Revolving Loans. Upon the cure of an
Event of Default and the payment of interest at the default rate through the
date of such cure, the interest rate shall revert to that provided for in the
Agreement.

     If a payment of interest hereunder is not made within 10 days of its due
date, the undersigned will also pay on demand a late payment charge equal to 5%
of the amount of such payment. Nothing in the preceding sentence shall affect
the Bank's rights to exercise any of its rights and remedies provided in the
Agreement if an Event of Default has occurred.

     This Note is issued pursuant to, and entitled to the benefits of, and is
subject to, the provisions of the Agreement, but neither this reference to the
Agreement nor any provision thereof shall affect or impair the absolute and
unconditional obligation of the undersigned makers of this Note to pay the
principal of and interest on this Note as herein provided.

     As provided in the Agreement, this Note is secured by certain assets of the
undersigned.

     In case an Event of Default shall occur, the aggregate unpaid principal of
and accrued interest on this Note shall become or may be declared to be due and
payable in the manner and

777787.1

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with the effect provided in the Agreement.


     The undersigned may at its option prepay all or any part of the principal
of this Note before maturity upon the terms provided in the Agreement, without
penalty or premium.

     The undersigned makers hereby waive presentment, demand, notice of
dishonor, protest and all other demands and notices in connection with the
delivery, acceptance, performance and enforcement of this Note.

     This instrument shall have the effect of an instrument executed under seal
and shall be governed by and construed in accordance with the laws of the
Commonwealth of Massachusetts (without giving effect to any conflicts of laws
provisions contained therein).

                                    HEMASURE INC.


                                    By:
                                       --------------------------------------
                                         Name:
                                         Title:

777787.1

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                          SCHEDULE I TO PROMISSORY NOTE



      DATE     AMOUNT OF     INTEREST      AMOUNT PAID       NOTATION
               REVOLVING       RATE                          MADE BY
                 LOAN






777787.1