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news.Dynavax Technologies, a clinical-stage biopharmaceutical company, has announced receipt of a $4.5 million milestone payment from its partner AstraZeneca for the nomination of candidate drug AZD1419 for the treatment of asthma and chronic obstructive pulmonary disease.
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As part of this potential $136 million development and commercialization collaboration, AstraZeneca and Dynavax have initiated investigational new drug enabling studies with AZD1419 and plan to begin Phase I clinical development in 2009.
Claude Bertrand, global vice president of respiratory and inflammation research at AstraZeneca, said: “This collaboration brings together Dynavax’s novel therapeutic approach with AstraZeneca’s broad experience in respiratory diseases to discover and develop innovative products for patients with these diseases. AZD1419 has the potential to expand and strengthen our value-added product portfolio in this disease field.”