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| Home : Dynavax Secures Committed Financing From Deerfield for $100 Million of Senior Secured Notes |
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Oct 28
2016 |
Dynavax Secures Committed Financing From Deerfield for $100 Million of Senior Secured Notes |
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BERKELEY, CA--(Marketwired - October 27, 2016) - Dynavax Technologies Corporation (NASDAQ: DVAX) today announced that it has entered into a note purchase agreement with one or more funds of Deerfield Management Company, L.P, pursuant to which Dynavax has agreed to sell, and Deerfield has agreed to purchase, $100 million principal amount of Dynavax's 10.375% Senior Secured Notes. Dynavax would receive the $100 million upon approval from the U.S. Food and Drug Administration (FDA) of HEPLISAV-BT, Dynavax's investigational adult hepatitis B vaccine, and satisfaction of other conditions. Dynavax intends to use the net proceeds from the offering for general corporate purposes, including the commercialization of HEPLISAV-B. The Biologics License Application for HEPLISAV-B is currently being reviewed by the U.S. Food and Drug Administration, which has established a Prescription Drug User Fee Act (PDUFA) action date of December 15, 2016. |
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| Source:http://www.marketwired.com/mw/release.do?id=2170201&sourceType=3 |
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