Savara Pharmaceuticals, an Austin, TX-based specialty pharmaceutical company developing innovative pulmonary drugs for the treatment of serious and life-threatening conditions, closed a $7.4m second tranche of its Series B financing.
Backers included Tech Coast Angels (TCA), which contributed $3.2m, Keiretsu Forum, the Central Texas Angel Network (CTAN), the North Texas Angel Network (NTAN), and existing independent investors.
The company, which held the $8.6m first close of the round in June 2012 (read here), will use the funds to support a phase IIa clinical program evaluating the efficacy of AeroVancTM (vancomycin hydrochloride inhalation powder) for the treatment of pulmonary methicillin-resistant Staphylococcus aureus (MRSA) infection in cystic fibrosis (CF) patients. AeroVanc is the first inhaled antibiotic being developed to address the growing population of MRSA-infected CF patients.
Savara Pharmaceuticals is led by Rob Neville , CEO.