Dynavax to Receive $5.4M Milestone
Dynavax Technologies Corp. has 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.