The Keiretsu Forum’s members gave $3 million as the lead investor on a Series B round for Savara Pharmaceuticals.
Savara is developing pulmonary drugs to treat serious and life threatening conditions.
“The opportunity to invest in Savara Pharmaceuticals attracted many of our accredited investors, who are deeply committed to supporting products and technologies with the potential to positively impact people’s lives,” Randy Williams, Founder and CEO of Keiretsu Forum, said in a news release. “With a solid business plan for developing an innovative and much-needed product, Savara exemplifies the type of company Keiretsu Forum members are seeking to identify and support. We are proud to have given Savara a giant leap forward and look forward to working with our members and entrepreneurs in funding other exciting enterprises.”
So far, Savara has raised more than $8 million in its latest financing round. The company plans to use the money on its lead product, AeroVanc, an antibiotic inhalant to treat MRSA infection, which is a Phase II clinical trial.
“The Keiretsu Forum takes a disciplined approach to deal screening, in-depth due diligence and investing, enabling companies to access a large group of sophisticated investors and enabling its members to access pre-qualified deal flow,” Robert Neville, Chief Executive Officer of Savara Pharmaceuticals, said in a statement. “The enthusiasm Savara received has been tremendous, and we are delighted for the Keiretsu Forum’s member support as we work to advance our lead program through Phase II clinical development.”