Savara Graduates from the Austin Technology Incubator
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.