Dynavax to Initiate Phase 1 Studies for TLR-9 Agonist for

Dynavax to Initiate Phase 1 Studies for TLR-9 Agonist for Asthma 
$6 Million Payment From AstraZeneca Due to Dynavax 
BERKELEY, CA -- (Marketwire) -- 10/31/12 --  Dynavax Technologies
Corporation (NASDAQ: DVAX) announced today that it will advance
AZD1419, a proprietary second-generation TLR-9 agonist for asthma,
into Phase 1 clinical studies. Development expenses will be fully
funded by AstraZeneca under the terms of a collaboration announced in
2006, and Dynavax expects to receive an advance payment of $6 million
in the fourth quarter of 2012. Dynavax anticipates the Phase 1
studies will begin in the first half of 2013. 
About AZD1419 
AZD1419 has been selected to enter formal clinical development based
on extensive preclinical studies conducted by Dynavax and
AstraZeneca. Under the terms of a previously-announced research
collaboration and license agreement, AstraZeneca will provide to
Dynavax approximately $20 million in payments to cover the cost of
clinical development activities through Phase 2a. If AstraZeneca
chooses to advance the program following completion of Phase 2a,
Dynavax will receive a $20 million milestone payment, and AstraZeneca
will retain its rights to develop the candidate therapy and to
commercialize the resulting asthma product. Additional remaining
milestone payments to Dynavax amount to approximately $100 million.
Dynavax will receive royalties on worldwide sales of approved
products and will have the opportunity to co-promote the product in
the United States.  
About Dynavax 
Dynavax Technologies Corporation, a clinical-stage biopharmaceutical
company, discovers and develops novel products to prevent and treat
infectious and inflammatory diseases. The Company's lead product
candidate is HEPLISAV(TM), a Phase 3 investigational adult hepatitis
B vaccine designed to provide rapid and superior protection with
fewer doses than current licensed vaccines. For more information
visit www.dynavax.com.  
About AstraZeneca 
AstraZeneca is a global, innovation-driven biopharmaceutical business
with a primary focus on the discovery, development and
commercialization of prescription medicines for gastrointestinal,
cardiovascular, neuroscience, respiratory and inflammation, oncology
and infectious disease. AstraZeneca operates in over 100 countries 
and its innovative medicines are used by millions of patients
worldwide. For more information please visit: www.astrazeneca.com.  
Forward Looking Statements  
This press release contains "forward-looking statements," including
statements related to expected payments under our AstraZeneca
agreement, the potential features of the Company's TLR-9 agonists,
and the timing of clinical studies. Actual results may differ
materially from those set forth in this press release due to the
risks and uncertainties inherent in our business, including whether
results of completed studies can be replicated in human studies,
difficulties or delays in discovery or development, initiation and
completion of preclinical or clinical studies, the results of those
studies and the impact of those results on the initiation and
completion of subsequent studies and issues arising in the regulatory
process; achieving our AstraZeneca agreement objectives; our ability
to obtain additional financing to support our operations; and other
risks detailed in the "Risk Factors" section of our current periodic
reports filed with the SEC. 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 the Company's current periodic reports with the SEC. 
Contact:
Michael Ostrach
Vice President and Chief Business Officer 
510-665-7257
mostrach@dynavax.com