Savara Pharmaceuticals, an Austin, TX-based specialty pharmaceutical company focusing on innovative drugs for the treatment of serious and life-threatening rare respiratory diseases, closed a $20m Series C financing round.
The backers remained undisclosed.
The company intends to use the funds to advance the AeroVanc Phase 3 trial, and expand its pipeline with other new drugs for serious and life-shortening rare respiratory diseases.
Led by Rob Neville, Chief Executive Officer, Savara Pharmaceuticals is advancing AeroVanc, a dry powder inhaled antibiotic being developed for the treatment of methicillin-resistant Staphylococcus aureus (MRSA) lung infection in people with cystic fibrosis (CF).
The company is currently in the process of selecting research sites for its upcoming Phase 3 study, with approximately 80 U.S. and Canadian sites expected to participate. Study enrollment is expected to start in Q4 2016.