Tech Coast Angels, Rady Venture Fund Back Savara Pharmaceuticals

Two, Southern California investment groups have backed a developer of treatments for infections in cystic fibrosis patients, Savara Pharmaceuticals, they announced today. Both the Tech Coast Angels, Southern California's largest organized angel investment group, as well as San Diego's Rady Venture Fund are part of a $16M funding round for Savara. According to the Tech Coast Angels, it contributed $3M to the funding, the largest single funding ever raised by the group. Rady Venture Fund, the student run venture capital fund run by students at UC San Diego's Rady School of Management, also participated, in addition to the Keiretsu Forum, the Central Texas Angel Network (CTAN) and the North Texas Angel Network (NTAN). Savara Pharmaceuticals is based in Texas, and is developing an inhaled antibiotic for treatment of pulmonary methicillin-resistant Staphylococcus aureus (MRSA) infection in cystic fibrosis (CF) patients. More information »