Dynavax Secures Licensing Deal for Vaxart's Oral COVID-19 Vaccine Initiative

Collaboration Agreement: Dynavax Technologies and Vaxart have entered into an exclusive worldwide license and collaboration agreement for Vaxart's investigational oral COVID-19 vaccine candidate, which features a novel delivery method.

Vaccine Mechanism and Benefits: The oral vaccine aims to induce mucosal immunity, potentially reducing infection and transmission, while improving patient acceptance and simplifying distribution without cold chain requirements.

Financial Terms: Dynavax will pay Vaxart an upfront license fee of $25 million and make a $5 million equity investment, gaining exclusive rights to develop and commercialize the oral COVID-19 vaccine.

Clinical Development Responsibilities: Vaxart will manage the oral vaccine program through the ongoing Phase 2b clinical trial, after which Dynavax can choose to take over future development, with additional payments contingent on this decision.