Dynavax Technologies Corporation has entered into a credit facility with Hercules Technology Growth Capital for up to USD40 million of total funding.
Dynavax drew the first tranche of USD10 million on closing and has access to an additional USD30 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 USD40 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," says Eddie Gray, CEO of Dynavax.
Further information with respect to the loan facility with Hercules is contained in a Current Report on Form 8-K to be filed on 29 December, 2014 by Dynavax with the Securities and Exchange Commission.
