Wednesday, March 4, 2009

Savara Expands Board with Three Appointments

Savara Inc. reported Wednesday that it has added three directors to its board. The Austin, Texas-based biopharmaceutical firm said the new members are Nevan Elam, Matthew Dennis and Dr. Curt Bilby. Elam, Savara noted, formerly headed up Nektar Therapeutics' pulmonary business unit, which he helped sell to Novartis in December for $115 million. Savara said Dennis is presently the senior director of international equities for Invesco AIM. Bilby, Savara continued, is president and chief executive officer of Terapio, a pharmaceutical firm developing protein-based therapeutics. He is also BioAustin's current chairman, Savara added. Founded in 2007 and privately funded, Savara is developing pulmonary drug delivery systems based on its "NanoCluster" formulation technology.