Dynavax to Receive $5.4 Million Milestone

Dynavax to Receive $5.4 Million Milestone 
AstraZeneca to Assume Responsibility for Future Clinical Development
of Investigational TLR-9 Agonist for Treatment of Asthma 
BERKELEY, CA -- (Marketwired) -- 03/03/14 --  Dynavax Technologies
Corp. (NASDAQ: DVAX) today announced a $5.4 million milestone payment
from its collaborator, AstraZeneca. The companies also amended their
research collaboration and license agreement to transfer
responsibility for conduct of further clinical trials from Dynavax to
AstraZeneca, following completion of the ongoing Phase 1 clinical
study of AZD1419 for the treatment of asthma.  
In October 2013 dosing began in a Phase 1 study to assess the safety
of inhaled doses of AZD1419 in up to 45 healthy subjects, to be
followed by up to 24 patients with mild asthma. Remaining potential
milestone payments to Dynavax total approximately $100 million. In
addition, Dynavax will receive royalties on worldwide sales of any
approved products and will have the opportunity to co-promote in the
United States. 
About Dynavax 
Dynavax, a clinical-stage biopharmaceutical company, discovers and
develops novel vaccines and therapeutics in the areas of infectious
and inflammatory diseases and oncology. Dynavax's lead product
candidate is HEPLISAV, a Phase 3 investigational adult hepatitis B
vaccine. For more information visit www.dynavax.com. 
About AstraZeneca 
AstraZeneca is a global, innovation-driven biopharmaceutical business
that focuses on the discovery, development and commercialisation of
prescription medicines, primarily for the treatment of
cardiovascular, metabolic, respiratory, inflammation, autoimmune,
oncology, infection and neuroscience diseases. AstraZeneca operates
in over 100 countries and its innovative medicines are used by
millions of patients worldwide. For more information please visit:
Forward Looking Statements 
This press release contains "forward-looking statements," including
statements related to expected payments under our AstraZeneca
agreement. 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. 
Michael Ostrach
Chief Business and Principal Financial Officer 
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