Dynavax Technologies (NASDAQ: DVAX) shares are trading higher on Monday after the company announced it will sell its SD-101 oncology program to TriSalus Life Sciences in a purchase agreement for up to $250 million in milestone payments plus royalties on future net sales.Dynavax Technologies is a clinical-stage biopharmaceutical company. The company focuses on leveraging the power of the body's innate and adaptive immune responses through toll-like receptor stimulation. It's current product candidates are being investigated for use in multiple cancer indications, as a vaccine for the prevention of hepatitis B and as a disease modifying therapy for asthma.Dynavax operates in the business segment the discovery and development of biopharmaceutical products. Its Toll-like Receptor Immune Modulation Platform technology play a vital role in innate immunity and subsequent adaptive immunity. Signaling through these receptors is triggered by the binding of a variety of pathogen-associated molecules and is essential to the generation of innate immunity.Dynavax Technologies shares were trading up 9.56% to $8.88 at time of publication on Monday. The stock has a 52-week high of $12.44 and a 52-week low of $1.80.See more from Benzinga * Why Dynavax's Stock Is Trading Higher Today * Why Dynavax's Stock Is Trading Higher Today(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
* SD-101 is a proprietary investigational, second-generation, Toll-like receptor 9 (TLR9) agonist CpG-C class oligodeoxynucleotide * TriSalus plans to further develop SD-101 as an oncology therapeuticWESTMINSTER, Colo. and EMERYVILLE, Calif., Aug. 03, 2020 (GLOBE NEWSWIRE) -- Dynavax Technologies Corporation (Nasdaq: DVAX), a biopharmaceutical company focused on developing and commercializing novel vaccines, and TriSalus Life Sciences (TriSalus), an emerging immuno-oncology company committed to transforming outcomes for liver and pancreatic tumors, today announced that they have entered into an asset purchase agreement under which TriSalus has purchased SD-101, a proprietary investigational, second-generation, Toll-like receptor 9 (TLR9) agonist CpG-C class oligodeoxynucleotide, which has been studied in advanced cutaneous melanoma, and is currently in clinical trials for high risk Stage II/III breast cancer. Purchased assets include SD-101-related Intellectual Property, clinical data, regulatory filings, and inventory.“We are excited to take on development of SD-101, which expands our integrated therapeutic and drug delivery portfolio,” said Mary Szela, President and CEO of TriSalus. “Promising clinical study data with this investigational agent has been shown as an important component of combination immuno-therapy for the treatment of advanced cutaneous melanoma. We believe by integrating our novel delivery technology with SD-101, our company will have the potential to improve outcomes in liver and pancreas tumor patients that presently have few viable options.”“We are pleased TriSalus will be driving the future development of SD-101 to ensure it reaches its full potential and ultimately benefit patients,” said Ryan Spencer, Chief Executive Officer of Dynavax. “We will continue to focus our resources and efforts to drive value through the advancement of our vaccine business.”Under the terms of the agreement, TriSalus will pay Dynavax $5 million upfront, an additional cash payment of $4 million on December 30, 2020, for reimbursement of research and development expenses, up to an additional $250 million upon the achievement of certain development, regulatory, and commercial milestones, and low double-digit royalties based on potential future net sales.About Dynavax Dynavax is a commercial stage biopharmaceutical company developing and commercializing novel vaccines. The Company launched its first commercial product, HEPLISAV-B® [Hepatitis B Vaccine (Recombinant), Adjuvanted], in February 2018, following U.S. FDA approval for prevention of infection caused by all known subtypes of hepatitis B virus in adults age 18 years and older. Dynavax is also advancing CpG 1018 as a premier vaccine adjuvant through research collaborations and partnerships. Current collaborations are focused on adjuvanted vaccines for COVID-19, pertussis and universal influenza. For more information, visit www.dynavax.com and follow the company on LinkedIn.About TriSalus Life Sciences TriSalusTM Life Sciences is an emerging immuno-oncology company dedicated to developing immunotherapy treatments for liver and pancreatic tumors using our novel delivery technology to improve patient outcomes. TriSalus intends to pursue multiple solid tumor indications with investigational agent, SD-101 and acquire other immuno-oncology agents to combine with our proprietary Pressure-Enabled Drug Delivery™ technology to administer therapeutics intrasvascularly into visceral organ solid tumors. Our focus is to reprogram the dominant immunosuppressive cell population in the liver and pancreatic tumors in combination with checkpoint inhibitors. This innovative approach in development has the potential to leverage multiple mechanisms that can work together with the goal to overcome inherent immune suppression within the solid tumor microenvironment. For more information, please visit www.trisaluslifesci.com.Dynavax Forward-Looking Statements This press release contains "forward-looking" statements, including statements regarding the potential for SD-101 to be successfully developed as a treatment for cancer and regarding potential future payments by TriSalus to Dynavax, including research and development reimbursement payments and development and commercial milestone and royalty payments. Actual results may differ materially due to the risk and uncertainties in the development and commercialization of oncology treatments, including the timing and results of pre-clinical and clinical trials, whether the results will support continued development and regulatory approval and if so whether and when approval would be received and in what countries, the ability to successfully commercialize and sell a product after approved and the amount of sales, and whether commercial sales milestones will be achieved, as well as other risks detailed in the "Risk Factors" section of our Annual Report on Form 10-K for the fiscal year ended December 31, 2019, as well as discussions of potential risks, uncertainties and other important factors in our other filings with the U.S. Securities and Exchange Commission. We undertake no obligation to revise or update information herein to reflect events or circumstances in the future, even if new information becomes available. Information on Dynavax's website at www.dynavax.com is not incorporated by reference in our current periodic reports with the SEC.TriSalus Life Sciences Contact: Emmie Twombly Media Specialist LaVoieHealthScience (857) 389-6042 email@example.comDynavax Contacts: Nicole Arndt, Senior Manager, Investor Relations firstname.lastname@example.org 510-665-7264Derek Cole, President Investor Relations Advisory Solutions derek.cole@IRadvisory.com
EMERYVILLE, Calif., July 30, 2020 (GLOBE NEWSWIRE) -- Dynavax Technologies Corporation (Nasdaq: DVAX), a biopharmaceutical company focused on developing and commercializing novel vaccines, will report second quarter 2020 financial results on Thursday, August 6, 2020, after the U.S. financial markets close. Dynavax will host a conference call and live audio webcast on Thursday, August 6, 2020 at 4:30 p.m. (ET)/1:30 p.m. (PT).The live audio webcast may be accessed through the “Events & Presentations” page on the “Investors” section of the Company’s website at www.dynavax.com. Alternatively, participants may dial (866) 420-4066 (domestic) or (409) 217-8237 (international) and refer to conference ID 8187870. A replay of the webcast will be available for 30 days following the live event.About Dynavax Dynavax is a commercial stage biopharmaceutical company developing and commercializing novel vaccines. The Company launched its first commercial product, HEPLISAV-B® [Hepatitis B Vaccine (Recombinant), Adjuvanted], in February 2018, following U.S. FDA approval for prevention of infection caused by all known subtypes of hepatitis B virus in adults age 18 years and older. Dynavax is also advancing CpG 1018 as a premier vaccine adjuvant through research collaborations and partnerships. Current collaborations are focused on adjuvanted vaccines for COVID-19, pertussis and universal influenza. For more information, visit www.dynavax.com and follow the company on LinkedIn.Contacts: Nicole Arndt, Senior Manager, Investor Relations email@example.com 510-665-7264Derek Cole, President Investor Relations Advisory Solutions derek.cole@IRadvisory.com