Dynavax pockets $30M to fund new development

Dynavax Technologies has gained $30 million in new financing to help accelerate the development of its allergy products. Deerfield Management is providing the money, which will go to finance a late-stage ragweed trial and preclinical programs for peanut and cat allergies. The Phase III study of Tolamba will enroll about 300 volunteers. In the financing deal, Dynavax will not have to repay up to $9 million for the study if it proves unsuccessful.

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