Coley Pharmaceutical Group will receive $5 million from Dynavax Technologies Corporation in return for rights to market Coley's hepatitis B vaccine Heplisav. The vaccine is currently in Phase III clinical trials and Coley expects to submit it to the FDA next year. Coley is eligible for an additional $5 million payment upon US approval of the vaccine.
Advancis Pharmaceutical Corporation has changed its name to MiddleBrook Pharmaceuticals. The name change was completed pursuant to the company's jointly submitted Permanent Injunction and Order with Sanofi-Aventis of October 27, 2006, whereby the company agreed to cease using the Advancis name by June 30, 2007. In conjunction with the new name, the company has changed its NASDAQ trading symbol to MBRK, effective the start of trading on June 29.