Daily News: December 29, 2014

Dynavax Secures $40MM Funding from Hercules Technology

Dynavax Technologies announced the company has entered into a credit facility with Hercules Technology Growth Capital for up to $40 million of total funding. Dynavax drew the first tranche of $10 million on closing and has access to an additional $30 million in 2015, at Dynavax’s option, if it achieves certain milestones.

“This credit facility provides us access to up to $40 million of non-dilutive funding that can be used to support development and pre-commercialization activities for HEPLISAV-B, clinical trials of our cancer immunotherapeutic product candidate, SD-101, and advancement of our research programs,” said Eddie Gray, CEO of Dynavax.

Berkeley, CA-based Dynavax, is a clinical-stage biopharmaceutical company, that uses TLR biology to discover and develop novel vaccines and therapeutics in the areas of infectious and inflammatory diseases and oncology.