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Dynavax and Symphony Capital Partners (Symphony) have negotiated new terms to satisfy the exercise price for Dynavax's option to acquire Symphony Dynamo (SDI).

Under this agreement, Dynavax will: acquire the cash held by SDI, currently $20.446 million, and issue to Symphony 13 million shares of Dynavax common stock, which represents $1.57 per share.

Upon closing, Symphony and its co-investors are expected to own approximately 24% of total Dynavax common stock outstanding. Dynavax will also expand its board of directors to include one director designated by Symphony and one independent director acceptable to both Symphony and Dynavax, as long as Symphony's ownership exceeds more than 10% of the total Dynavax common stock outstanding.

Dino Dina, president and CEO of Dynavax, said: "This transaction is an important milestone for Dynavax, providing approximately $20 million in cash to fund Heplisav, which represents the majority of the funding needed for the Phase III registration trials for our investigational adult hepatitis B vaccine.

"Our hepatitis C virus (HCV) clinical program, funded through SDI, has demonstrated safety and reproducible antiviral activity in a Phase Ib trial. With Symphony, we have decided to seek partners for HCV and focus our resources on Heplisav."

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Arnold Oronsky, chairman of the board of directors at Dynavax, said: "A recognized scientific leader in vaccines and infectious diseases, Francis brings unique expertise and broad experience in research, development and commercialization to Dynavax. Francis will provide valuable perspective as Dynavax advances its plans for its Phase III hepatitis B vaccine and pipeline products."

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Republication or redistribution, including by framing or similar means,
is expressly prohibited without prior written consent. Datamonitor shall 
not be liable for errors or delays in the content, or for any actions 
taken in reliance thereon

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Write to Chip Brian at cbrian@tradethetrend.com

---------------------------------------------------------------------------------------------

SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.TradeTheTrend.com.

Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.TradeTheTrend.com/signup.html