56 more investors back Savara's pulmonary drugs, SEC filing shows

Jun 13, 2014
American Business Journal

Savara Inc., a local drug developer, reported raising $4.4 million of a planned $5 million financing.

The Austin-based company collected the capital from 56 investors, according to a Tuesday filing with the U.S. Securities and Exchange Commission.

Savara, founded in 2007, develops pulmonary drugs. It employed seven workers last year.

In mid 2013, the company updated a previously reported tranche of Series B round financing to $14.3 million from 239 investors. The capital was in addition to an $8.6 million first tranche completed in June 2012, according to an SEC filing.

The capital will be used to fund Phase 2 development of AeroVanc, an inhaled antibiotic to treat patients with cystic fibrosis, company officials had previously said.

Investors include the Tech Coast Angels, the North Texas Angel Network, the Central Texas Angel Network and The Keiretsu Forum.

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