(DALLAS, TEXAS – May 3, 2017) – The North Texas Angel Network (NTAN) wishes to congratulate Savara Inc., a clinical-stage specialty pharmaceutical company and one of NTAN’s largest life science portfolio companies on its trading debut on the NASDAQ Capital Market under the symbol SVRA. Savara features three inhaled product candidates, each in advanced stages of clinical development.
“NTAN is proud to be playing a role in bringing new therapies to populations that have few or no good treatment options,” said Chuck McCoy, executive director for NTAN. “CEO Rob Neville was an experienced industry executive with a vision of how to combine existing knowledge and products in an innovative way to solve a real problem. During multiple rounds of funding Rob continuously impressed our investors with his ability to execute the plan. This deal has brought benefit to society and strong returns to investors.”
Eleven members of NTAN have invested $4.5 million into Savara during multiple funding rounds, first beginning in May 2012.
According to Chris Wilkes, an NTAN board member and CEO for Sigmetrix, “The NTAN business model gives clear and direct engagement between early-stage investors and high potential start-up entrepreneurs, such as Rob and his team with Savara. We are the place where real innovation gets the material investment needed to spread the benefits of new products to society at large. These investors coordinate among themselves to find, select, and fund the next generation great companies. Those new companies are the foundation of our country’s future and our members are honored to participate.”
Austin, Texas-based Savara began the development of AeroVanc in 2010 and is now in preparation for a Phase 3 study. In July 2016, Savara acquired Serendex Pharmaceuticals adding Molgradex to its pipeline. With the closing of its most recent merger, Savara adds Aironite to its pipeline. Savara intends to continue its growth strategy focused on indication expansion, strategic development partnerships, and product acquisitions.
“We are grateful for the support of NTAN and thank each member for believing in our company, team, and mission to help those who suffer from rare and debilitating lung diseases,” stated Rob Neville, chairman and CEO of Savara. “We believe Savara presents an attractive business opportunity with our pipeline of unique products that bring considerable market potential as well as significant value-driving clinical milestones.”