Dynavax Secures $40 Million Credit Facility With Hercules Technology Growth Capital
BERKELEY, CA — (Marketwired) — 12/29/14 — Dynavax Technologies Corporation (NASDAQ: DVAX) today announced that the Company has entered into a credit facility with Hercules Technology Growth Capital, Inc. (NYSE: 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.
Further information with respect to the loan facility with Hercules is contained in a Current Report on Form 8-K to be filed on December 29, 2014 byDynavax with the Securities and Exchange Commission.