Dynavax and AstraZeneca Agree to Conduct Toxicology Studies for TLR-9 Agonist for
Asthma
$2.6 Million Payment From AstraZeneca Due to Dynavax
BERKELEY, CA, Dec 21, 2011 (MARKETWIRE via COMTEX) -- Dynavax Technologies
Corporation (DVAX) and AstraZeneca announced today their decision to advance
AZD1419, a proprietary second-generation TLR-9 agonist for asthma, into
IND-enabling preclinical toxicology studies. These toxicology studies are
scheduled to be the first module of work performed by Dynavax under the recently
amended collaboration agreement for the clinical development of AZD1419.
Development expenses will be fully funded by AstraZeneca, and Dynavax will
receive payment of $2.6 million to begin the studies.
About AZD1419
AZD1419 has been selected as the lead clinical candidate to enter formal clinical
development based on extensive preclinical studies conducted by Dynavax and
AstraZeneca. These include demonstration that AZD1419 is capable of producing
long lasting disease-modifying effects in a mouse model of atopic asthma. Under
the terms of the amended 2006 research collaboration and license agreement,
AstraZeneca will provide to Dynavax approximately $20 million in payments to
cover the cost of clinical development activities through Phase 2a. If
AstraZeneca chooses to advance the program following completion of Phase 2a,
Dynavax will receive a $20 million milestone payment, and AstraZeneca will retain
its rights to develop the candidate therapy and to commercialize the resulting
asthma product. Additional remaining milestone payments to Dynavax amount to
nearly $100 million. Dynavax will receive royalties on worldwide sales of
approved products and will have the opportunity to co-promote the product in the
United States.
About Dynavax
Dynavax Technologies Corporation, a clinical-stage biopharmaceutical company,
discovers and develops novel products to prevent and treat infectious and
inflammatory diseases. The Company's lead product candidate is HEPLISAV(TM), a
Phase 3 investigational adult hepatitis B vaccine designed to provide rapid and
superior protection with fewer doses than current licensed vaccines. For more
information visit dynavax.com. |
