Savara Pharmaceuticals Buys Serendex Pharmaceuticals

Austin-based Savara Pharmaceuticals has acquired the assets of Serendex Pharmaceuticals, a developer of treatments for autoimmune disorders. Financial terms of the buy were not disclosed. Savara Pharmaceuticals said the acquisition adds two new programs to its pipeline. Serendex's lead product is Molgradex, which is an inhaled form of granulocyte-macrophage colony-stimulating factor (GM-CSF), used for treating autoimmune pulmonary alveolar proteinosis (PAP). Savara said Molgradex is currently in a Phase II/III clinical study in Europe and Japan. Serendex was based in Copenhagen, Denmark.