Austin, TX (PRWEB) June 14, 2011
The Austin Technology Incubator (ATI), a nonprofit unit of The University of Texas at Austin, announced today that Savara Inc., an inhalation product development company, has graduated from the ATI Bioscience Incubator.
Savara is preparing supply for a Phase 1 clinical trial of its lead product (SAV-005), an inhaled antibiotic for the treatment of infections in Cystic Fibrosis patients.
“ATI was a critical partner as we raised funds to support the discovery phase of the company, most notably a $1.9 million investment from State of Texas’ Emerging Technology Fund.” said Rob Neville, CEO of Savara.
Respiratory drugs are the second largest therapeutic class and one of the fastest growing in the United States. Savara is well positioned to capitalize on this trend and is currently developing dry powder inhalation products that target niche therapeutic areas with high unmet medical need and high commercial opportunity.
“A transition from the laboratory into the clinic represents a significant accomplishment and validation of our team’s ability to execute.” said Neville.
The company is raising a Series B round of financing to complete its Phase 2 clinical trial.
Savara Inc. is an inhalation drug development company targeting niche therapeutic areas with high unmet medical need and high commercial opportunity. Savara focuses on improving existing small molecule medicines through advanced formulation and delivery technologies across a number of therapeutic areas including asthma, cystic fibrosis and lung cancer. For more information, visit http://www.savarapharma.com
About the Austin Technology Incubator
The Austin Technology Incubator is a not-for-profit unit of the IC2 Institute of The University of Texas at Austin that harnesses business, government and academic resources to provide strategic counsel, operational guidance and infrastructure support to its member companies to help them transition from early stage ventures to successful technology businesses. Since its founding in 1989, ATI has worked with over 200 companies, helping raise close to $750 million in investor capital. For more information, visit http://www.ati.utexas.edu
CEO of Savara
Dr. Cindy WalkerPeach
ATI Bioscience Director