Savara brings in initial $3.2mm in Series B round; adds $7.4mm

Pulmonary drug delivery firm Savara Pharmaceuticals has raised $3.2mm so far through its Series B venture round. (An extension to the financing is expected in the near future.) The Keiretsu Forum was joined by current shareholders, for a total of 117 investors. In addition to the new money, Savara raised $3.5mm via a recent bridge financing that converted to Series B shares and $1.9mm from an Emerging Technology Fund equity conversion. Proceeds will be put towards the advancement of AeroVanc through Phase IIa as the first inhaled antibiotic for Staphylococcus aureus in cystic fibrosis patients.