Dynavax Gets $40 Mln Credit Facility - Quick Facts

(RTTNews) - Dynavax Technologies Corp. (DVAX) reported reaching a credit facility with Hercules Technology Growth Capital, Inc. (HTGC) 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 relating to the ongoing Phase 3 study of HEPLISAV-B (HBV-23).

"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.