Savara Pharmaceuticals has received additional funding for Phase 2 development of its AeroVanc vancomycin inhalation powder for the treatment of methicillin-resistant Staphylococcus aureus (MRSA) infections in cystic fibrosis patients. The company brought its Series B financing to a total of $16 million after closing a $7.4 million second tranche and has also received a $4 million grant from the National Institutes of Health’s National Heart, Lung and Blood Institute.
Savara CEO Rob Neville said, “Savara has quickly emerged as one of the key players in inhaled antibiotics, but unlike all other similar products, AeroVanc is the first one to specifically address the growing problem of MRSA lung infection in cystic fibrosis. This has created substantial interest among an increasing number of high caliber investors, with strong support from key opinion leaders and the CF medical community.”
According to the company, a Phase 2 trial of AeroVanc should begin in 22 US cystic fibrosis centers by the middle of 2013. AeroVanc was granted orphan drug designation by the FDA in November 2012.
Read the Savara press release.
