Dynavax Technologies Corp. the biotech company said it signed a deal with London-based pharmaceutical company AstraZeneca PLC to develop treatments for asthma and chronic lung disease.
Under the terms of the deal, Dynavax said it will receive an upfront fee of $10 million, plus research funding and preclinical milestones that could bring the total committed funding to $27 million. This could potentially place the deal's total value at about $136 million, the company said.
Berkeley, Calif.-based Dynavax's shares climbed 30 cents, or 7.1 percent, to $4.50 in trading on the Nasdaq.
Under the terms of the deal, Dynavax said it will receive an upfront fee of $10 million, plus research funding and preclinical milestones that could bring the total committed funding to $27 million. This could potentially place the deal's total value at about $136 million, the company said.
Berkeley, Calif.-based Dynavax's shares climbed 30 cents, or 7.1 percent, to $4.50 in trading on the Nasdaq.
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