Dynavax Technologies Corporation (Nasdaq: DVAX), a biopharmaceutical company focused on developing and commercializing novel vaccines, and the Coalition for Epidemic Preparedness Innovations (CEPI) today announced they have entered into an agreement to support the supply of Dynavax's CpG 1018 advanced adjuvant to be used in approved COVID-19 vaccines developed by CEPI grantees.
Under the terms of the agreement, CEPI will provide Dynavax funding of up to $99 million through a forgivable loan for the manufacturing of CpG 1018 with the potential to support hundreds of million doses of COVID-19 vaccine for delivery in 2021 through COVAX. COVAX is the global initiative to ensure rapid and equitable access to COVID-19 vaccines for all countries, regardless of income level. This stockpile of CpG 1018 will be first available for purchase by CEPI grantees for use in approved COVID-19 vaccines. Dynavax will sell the reserved CpG 1018 under separate commercial supply agreements made directly with CEPI grantees within price parameters agreed with CEPI. Upon sale of CpG 1018 manufactured under this agreement, Dynavax will reimburse CEPI for the funded manufacturing cost. If the relevant vaccine programs are unsuccessful and no alternative use is found for the adjuvant, the loan will be forgiven.
https://finance.yahoo.com/news/dynavax-cepi-announce-99-million-120100542.html
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