Rhein Biotech GmbH was part of Rhein Biotech NV, a company 93%-owned by Berna Biotech. Berna was recently acquired by Dutch biotech firm Crucell.
As a result of the acquisition, Rhein Biotech GmbH has now been integrated into Dynavax as a wholly owned subsidiary that will be named Dynavax Dusseldorf.
In addition to the purchase price, Dynavax has incurred certain employee costs and additional transaction related costs and expenses.
The transaction payment includes the purchase of 100% of the outstanding capital stock of Rhein Biotech GmbH. The company's assets include manufacturing facilities, R&D-stage products, an industrial R&D services business and personnel.
Dynavax 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' hepatitis B surface antigen license and supply agreement with Berna has been terminated and Berna no longer has an option to commercialize Heplisav.