Dynavax Raises $34.8 Million In Private Equity Round Led By Care Capital
Contact:
Andrew Gengos
Chief Financial Officer
Dynavax Technologies Corporation
(510) 848-5100
Berkeley, CA, April 25, 2002 - Dynavax Technologies, a privately held biopharmaceutical company, today announced that it had raised $34.8 million in a private placement of its Series D Preferred Stock from new and existing investors. The financing, led by Care Capital LLC, includes commitments from Piper Jaffray Ventures, BioVeda, HealthCap, and Lotus BioScience Holdings, all new investors. Existing investors participating in the Series D included Forward Ventures, Sanderling, BA Ventures, WestLB Asset Management, JAFCO, Alta Partners, InterWest, Axiom Venture Partners and Finedix. Jan Leschly, of Care Capital will join Dynavax' Board of Directors. Banc of America Securities was the sole placement agent for the equity financing.
About Dynavax Technologies
Dynavax Technologies is a privately held biopharmaceutical company developing innovative products to treat allergy, inflammation-mediated diseases, infectious diseases and cancer. The company's lead products are based on ImmunoStimulatory Sequences (ISS), short DNA sequences that enhance the ability of the immune system to fight disease and prevent inflammation. The company's two most advanced products are AIC, which has provided positive results in recently completed phase II clinical trials for the treatment of ragweed allergy, and a next-generation hepatitis B vaccine. Dynavax is also developing an oral TNF-alpha synthesis inhibitor initially for the treatment of rheumatoid arthritis.