Monday, May 1, 2017

Savara Gets $15M In Debt Funding From SVB

Austin-based pharmaceuticals developer Savara announced this morning that it has entered into a $15M, loan agreement with Silicon Valley Bank. According to the company, the agreement provides for $15M in a debt facility, with $7.5M immediately available to the company. Savara said it would partially use the funding to pay off pre-merger debt of $3.7M owed to Hercules Technology Growth Capital, as well as for ongoing development programs and general corporate purposes. Rates on the new debtwere not announced. Savara is developing treatments for serious or life-threatening rare respiratory diseases.