Savara Pharmaceuticals Finds $8.6M

Austin-based Savara Pharmaceuticals, a specialty pharmaceuticals developer focusing in on a treatment for cystic fibrosis, said today that it has raised $8.6M in a Series B funding round. The round was led by angel investment group The Keiretsu Forum, as well as its earlier investors. Savara said the deal included $3.2M in new funds, $3.5M in a bridge funding round conversion, and $1.9M from the Emerging Technology Fund in an equity conversion. Savara is developing a treatment for methicillin-resistant Staphylococcus aureus (MRSA) infection in cystic fibrosis (CF) patients. The company said the funding will go to advance the firm's compounds through Phase IIa studies. More information »