Dynavax draws down last $75 million of non-dilutive term loan via CRG

By Wendy Van Sickle

Columbus, Ohio, March 18 – Dynavax Technologies Corp. drew down $75 million under its existing non-dilutive term loan agreement with CRG LP on Monday, according to a press release.

This second tranche is the remaining portion of a $175 million term loan facility, of which Dynavax drew down $100 million at closing in February 2018.

The facility matures on Dec. 29, 2023.

Proceeds will be used for marketing, sales and production activities for the company’s HEPLISAV-B adult hepatitis B vaccine and completion of its ongoing immuno-oncology studies, as well as for general working capital and general corporate purposes.

Dynavax is a Berkeley, Calif.-based biopharmaceutical company focused on treatments for infectious and inflammatory diseases.

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