BioCentury
ARTICLE | Financial News

Savara tops off $20M series C round

March 2, 2016 2:42 AM UTC

Savara Pharmaceuticals (Austin, Texas) raised $10 million in the second close of a series C round, bringing the round's total to $20 million. President and CEO Robert Neville told BioCentury the funds came from boutique life science investment funds and family offices.

In 4Q16, Savara expects to start a 250-patient Phase III trial of AeroVanc ( SAV005), an inhaled dry powder formulation of vancomycin in a capsule-based inhaler, to treat methicillin-resistant Staphylococcus aureus (MRSA) infection in cystic fibrosis (CF) patients. Neville said Savara is still discussing the trial's primary endpoint with FDA, but said the company anticipates data in 2018. He said Savara plans to seek additional funding this year. ...