[March 21, 2013] Savara Pharmaceuticals raises $7.4 million in Series B funding Tweet Mar 21, 2013 (Datamonitor Financial Deals Tracker via COMTEX) -- Savara Pharmaceuticals, a US-based specialty pharmaceutical company developing pulmonary drugs for the treatment of serious and life-threatening conditions, has secured $7.4 million in second tranche of its Series B funding. New investors include members of the Tech Coast Angels and the North Texas Angel Network, along with returning investors from the Central Texas Angel Network and The Keiretsu Forum. Existing independent investors also participated in the round. The second tranche of the Series B was oversubscribed, and to accommodate the additional interest from investors, Savara extended the round from an initial $13 million to $16 million. Deal Value (US$ Million) 7.4 Deal Type Venture Finance Sub-Category Growth Capital/Expansion Deal Status Completed: 2013-03-20 Deal Participants Target (Company) Savara, Inc. Deal Rationale The funds will support the Phase 2 development of AeroVanc(TM), the first inhaled antibiotic being developed to treat the increasing number of persistent pulmonary methicillin-resistant staphylococcus aureus (MRSA) infections in patients with cystic fibrosis (CF). [ Back To TMCnet.com's Homepage ]