Dynavax Technologies Corporation (NASDAQ:DVAX) Files An 8-K Entry into a Material Definitive AgreementItem 1.01
On February16, 2018, the Company entered into a Sublicense Agreement (the “Sublicense Agreement”) with Merck Sharpe& Dohme Corp. (the “Sublicensor”).
The Sublicense Agreement grants to the Company, under certain non-exclusive U.S. patent rights controlled by the Sublicensor which relate to recombinant production of Hepatitis B surface antigen, the right to manufacture, use, offer for sale, sell and import HEPLISAV-B, adult Hepatitis B Vaccine, to prevent hepatitis B and diseases caused by hepatitis B in the United States and includes the right to grant further sublicenses. In consideration, the Company is obliged to make the following three payments: $7.0million to the end of March 2018 and $7.0million in the first quarter of each of 2019 and 2020.
The Sublicense Agreement continues until the expiration of the last of the specified patents controlled by the Sublicensor and completion of the Company’s payment obligations. The Sublicense Agreement may be terminated by either party if the other party becomes bankrupt or insolvent or if the Company commits a material breach, subject to a customary cure period.
The foregoing summary of the Sublicense Agreement does not purport to be complete and is qualified in its entirety by reference to the Sublicense Agreement, a copy of which the Company intends to file as an exhibit to its quarterly report on Form 10-Q for the quarter ended March31, 2018.
| Item 1.01 | Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
The information in Item 1.01 above is incorporated by reference into this Item 1.01.
| Item 1.01 | Material Modifications to Rights of Security Holders. |
The information in Item 1.01 above is incorporated by reference into this Item 1.01.
| Item 1.01 | Financial Statements and Exhibits. |
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Number |
Description |
| 99.1 | Press release, dated February20, 2018 |
DYNAVAX TECHNOLOGIES CORP ExhibitEX-99.1 2 d502638dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 Dynavax Secures $175 Million in Non-Dilutive Debt Financing Proceeds to be Used to Commercialize HEPLISAV-B™ [Hepatitis B Vaccine (Recombinant),…To view the full exhibit click here
About Dynavax Technologies Corporation (NASDAQ:DVAX)
Dynavax Technologies Corporation (Dynavax) is a clinical-stage biopharmaceutical company. The Company uses toll-like receptor (TLR) biology to discover and develop vaccines and therapeutics. Its development programs are focused on vaccines and cancer immunotherapy. The Company’s lead vaccine product candidate is HEPLISAV-B, an investigational adult hepatitis B vaccine, which combines its TLR9 agonist adjuvant and recombinant hepatitis B surface antigen (rHBsAg). Its lead cancer immunotherapy candidate is SD-101, a C Class CpG TLR9 agonist is selected for characteristics optimal for treatment of cancer, including high interferon induction. Its SD-101 clinical program is intended to assess the preliminary efficacy of SD-101 in a range of tumors and in combination with a range of treatments. Its advanced inflammatory disease candidate is AZD1419. Its pipeline of product candidates for cancer immunotherapy includes DV281 and CpG-Nanoparticles, which are in the preclinical stage.
