Dynavax closes acquisition of Rhein Biotech from Crucell for $12.4 million

By E. Janene Geiss

Philadelphia, April 24 - Dynavax Technologies Corp. said Monday that it has completed the acquisition of biopharmaceutical and vaccine manufacturer Rhein Biotech GmbH for a cash transaction of about $12.4 million based on current exchange rates.

In addition to the purchase price, Dynavax has incurred certain employee costs and additional transaction related costs and expenses, according to a company news release.

As a result of the acquisition, Rhein Biotech GmbH has been integrated into Dynavax as a wholly owned subsidiary, which will be named Dynavax Dusseldorf.

Rhein Biotech was part of Rhein Biotech NV, a company 93%-owned by Berna Biotech AG. Berna was recently acquired by the Dutch biotechnology company Crucell NV. The transaction payment includes the purchase of 100% of Rhein's outstanding capital stock, officials said.

Rhein's assets include manufacturing facilities, research- and development-stage products, an industrial research and development services business and personnel.

Dynavax said it had an agreement with Berna for supply of hepatitis B surface antigen for use with Heplisav, its hepatitis B vaccine. With the closing of the transaction, Dynavax's hepatitis B surface antigen license and supply agreement with Berna has been terminated and Berna no longer has an option to commercialize Heplisav, officials said.

Dynavax is a Berkeley, Calif., biopharmaceutical company that develops and commercializes products to treat and prevent allergies, infectious diseases and chronic inflammatory diseases.

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