News

Savara, Inc. Selected As Texas Emerging Technology Fund Recipient

­­ATI Member Company, Savara, Inc., receives Texas Emerging Technology Fund money.  Following is the official release.

News Release
Austin Chamber of Commerce
Donya Dahmann, Director of Public Relations
512.322.5637
ddahmann@austinchamber.com
www.austinchamber.com

Savara, Inc. Selected As Texas Emerging Technology Fund Recipient

June 10, 2010– The Austin Chamber of Commerce and the Central Texas Regional Center of Innovation and Commercialization (CenTex RCIC) announce that the state of Texas has chosen Savara, Inc. as the recipient of a commercialization award funded through the Texas Emerging Technology Fund (ETF). This company, which produces novel respiratory therapeutics, will receive a $1.9 million award for the commercialization of its products.

“Savara’s dry-powder technology holds great potential for treating asthma, lung cancer, and other lung based diseases,” said Jack McDonald Chairman of Perficient, Inc. and Chairman of the CenTex RCIC. “This investment by the ETF will not only help grow our biotech industry in Central Texas but may result in new therapies that save lives.”

Savara is an inhalation drug development company developing next generation respiratory therapeutics utilizing its proprietary NanoCluster dry-powder formulation technology. NanoCluster’s unique features can produce numerous patient benefits including reduced dosage, enhanced efficacy, improved safety and increased tolerability, as well as greater patient convenience.

“Texas is a leader in cutting edge biotechnologies thanks to investments from the Texas Emerging Technology Fund that have attracted companies and top researchers to our state,” said Gov. Rick Perry. “Savara’s technology will help identify and treat lung cancer more quickly and efficiently, saving lives and bringing us one step closer to eliminating this deadly disease.”

This award will be used to advance the development of Savara’s lead project towards Investigational New Drug (IND) approval.

“We are very excited and honored to have been named a Texas Emerging Technology Fund recipient,” said Rob Neville, CEO of Savara, Inc. “This milestone is important to Savara as we are now able to progress our lead therapy into the clinic.”

Currently, Savara plans to provide 12 jobs directly and three to five jobs indirectly through the year 2013. Savara has established an important collaboration with the Austin Technology Incubator (ATI) at the University of Texas at Austin where it continues to develop its drug delivery platform and products.

“This new biomedical technology brings about exciting possibilities for local treatment of serious lung diseases,” said Isaac Barchas, Director, ATI. “The Technology Incubator is eager to continue our collaboration with Savara and this investment from the ETF will allow that to happen.”

Savara, Inc. was selected by the CenTex RCIC after an extensive due diligence process based on multiple criteria including a stringent analyses of the market and financial opportunity, technology potential, management team and economic impact to Texas.

The CenTex RCIC is a virtual center that operates out of the Austin Chamber of Commerce and serves as a catalyst for emerging technology research, development, commercialization and start-up incubation. In an effort to keep Texas globally competitive, the CenTex RCIC focuses on integrating technology development and commercialization in a 15-county region.

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