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Dynavax Begins TOLAMBA(TM) Environmental Exposure Chamber Study
Date:10/22/2007

BERKELEY, Calif., Oct. 22 /PRNewswire-FirstCall/ -- Dynavax Technologies Corporation (Nasdaq: DVAX) today reported that it had begun dosing of TOLAMBA(TM), its novel ragweed allergy therapy, to subjects as part of an environmental exposure chamber study that is expected to enroll a total of 300 subjects. Subjects are being screened based on a history of ragweed allergy and a positive skin test. Exposure to ragweed allergen in the chamber is being used to select those individuals with confirmed ragweed allergic disease and establish their baseline level of symptoms. Subjects are being treated and will be re-exposed in the chamber to determine the effect of the six-week, six-injection TOLAMBA regimen as compared to placebo. Data from this study are expected in the first half of 2008 and, if positive, will be followed by a pivotal field study in the 2009 ragweed season, with a potential BLA submission planned for 2010.

FINANCING SUMMARY

On July 18, 2007, Dynavax announced that Deerfield Management, a healthcare investment fund, had committed up to $30 million in loan-based project financing to accelerate the development of Dynavax's allergy franchise, including TOLAMBA and the preclinical peanut and cat allergy programs. Repayment of a portion of the loans for TOLAMBA is contingent upon the positive outcome of the chamber study. If the TOLAMBA program is discontinued, Dynavax has no obligation to repay Deerfield up to $9 million of the funds earmarked for that program; any other remaining outstanding principal will be due in July 2010.

The initiation of dosing in the TOLAMBA chamber study triggered the release of additional funding to Dynavax pursuant to the loan agreement, as well as the issuance of wa
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SOURCE Dynavax Technologies Corporation
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