Singapore, Nov 11, 2009: Dynavax Technologies is acquiring Symphony Dynamo.  As a result of the deal, Dynavax will acquire approximately $20 million in cash and regain all rights to its hepatitis C and cancer therapy programs.

 

"This transaction is an important milestone for Dynavax, providing approximately $20 million in cash to fund Heplisav which represents the majority of the funding needed for the phase III registration trials for our investigational adult hepatitis B vaccine," commented Dino Dina, President and Chief Executive Officer of Dynavax. "Our Hepatitis C clinical program, funded through SDI, has demonstrated safety and reproducible antiviral activity in a phase I B trial. With Symphony, we have decided to seek partners for HCV and focus our resources on Heplisav."

"We are impressed with the progress Dynavax has made with its pipeline of products targeting infectious diseases and are excited about the market opportunity for Heplisav," said Harri V. Taranto, Co-Founder of Symphony Capital. "We are pleased that this transition will enable Dynavax to fund Heplisav to realize its value creation potential for Dynavax."