Savara Lands $7.4 Million to Close a $16 Million Series B Round  
3/21/2013 8:33:58 AM

Savara Pharmaceuticals Inc. has raised a $7.4 million second tranche of its $16 million Series B round of financing. The Austin-based company, which develops pulmonary drugs, raised the $8.6 million first tranche of the funding in June 2012. The capital will be used to fund Phase 2 development of AeroVanc, an inhaled antibiotic to treat patients with cystic fibrosis, company officials said Tuesday. Savara, founded in 2007, has received $19 million in investment capital since launching. The company employs seven workers.