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[DVAX] Dynavax Technologies

Symbol: DVAX
Last Price: 1.47
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7/23/2008 04:12pm
Dynavax Technologies Enters into supply and option agreement for development of Universal Influenza Vaccine with Novartis

- Under the agreement Novartis will provide Dynavax a supply of trivalent influenza vaccine, an essential component of Dynavax's Universal Influenza Vaccine, for both clinical trial use and vaccine sales. Novartis receives an exclusive option to negotiate a Joint Development and Commercialization Agreement with Dynavax.
- Under the agreement Dynavax will conduct early-stage development through a defined proof-of-concept. If Novartis exercises the right to negotiate a further agreement for development and commercialization, Dynavax would retain co-commercialization rights in the U.S. and receive product royalties outside of the U.S. Should the option not be exercised, Novartis remains committed to providing commercial supply of trivalent influenza vaccine with pre-agreed commercial terms and Dynavax retains the right to independently continue with late-stage development and commercialization.


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