Navigation Links
Tech Coast Angels Contributes More Than $3 Million to $16 Million Savara Pharmaceuticals Series B
Date:3/20/2013

SAN DIEGO, March 20, 2013 /PRNewswire/ -- Tech Coast Angels (TCA), the largest and most active angel network in the United States, announced that the network contributed $3.2 million to a Savara Pharmaceuticals Series B financing. This is the largest single funding ever raised by the TCA network.

The TCA investment is part of a $16 million Series B generated through a syndication deal with three other angel networks: Keiretsu Forum, the Central Texas Angel Network (CTAN) and the North Texas Angel Network (NTAN). Angel rounds typically total between $200,000 and $1.5 million.

Savara Pharmaceuticals will use the Series B funds to support a phase IIa clinical program evaluating the efficacy of AeroVancTM (vancomycin hydrochloride inhalation powder) for the treatment of pulmonary methicillin-resistant Staphylococcus aureus (MRSA) infection in cystic fibrosis (CF) patients. AeroVanc is the first inhaled antibiotic being developed to address the growing population of MRSA-infected CF patients.

"Completing a Series B of this size with 100 percent angel money is a major accomplishment," said Sergio Gurrieri , TCA lead for the Savara financing deal. "It demonstrates TCA's increasing effectiveness at syndicating deals with other angel networks to raise larger rounds and drive innovation.

"This funding also demonstrates how angels are increasingly stepping in to support companies at later stages of development, which substantially reduces risk for investors and provides opportunities for earlier exits and liquidity," Gurrieri said.

"We are extremely pleased with our decision to seek Series B funding from TCA and other experienced angel networks," said Rob Neville , Savara Pharmaceuticals CEO. "The professionals in these organizations understood our business and the potential of our technology, and worked hard to quickly generate and exceed our target investment."

About TCA
Tech Coast Angels (www.techcoastangels.com) is the largest angel investor group in the United States. Its members provide funding and guidance to more early-stage, high-growth companies in Southern California than any other investment group. TCA members invest in companies in a wide range of industries, including the life sciences, biotech, IT, services, retail, Internet, financial, software, media, consumer products, and tech startups. TCA members give companies more than just capital; they also provide counsel, mentoring and access to an extensive network of potential investors, customers, strategic partners and management talent. TCA has more than 300 members, including its venture capital affiliates, in five networks in Los Angeles, Orange County, San Diego, Central Coast and the Inland Empire. More information on investment with Tech Coast Angels can be found at www.techcoastangels.com, www.facebook.com/techcoastangels or twitter.com/techcoastangels.

For More Information:
Michele Parisi
925/429-1850
mparisi@biocommnetwork.com


'/>"/>
SOURCE Tech Coast Angels
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. HealthEd Taps Kelemen to Lead West Coast Expansion
2. Accelrys Announces Software Licensing Agreement with Gulf Coast Consortia
3. Profil Institute Partners with Florida Hospital to Establish East Coast Center for Clinical Metabolic Research
4. Cell Therapeutics, Inc. (CTI) Appoints Former Managing Director, Head of West Coast Biotechnology for Oppenheimer/CIBC Matthew J. Plunkett Executive Vice President, Corporate Development
5. Synteract Leadership to Provide Insights at Industry Events on Both West and East Coasts
6. First Warning Systems Receives Investment by Members of the Reno Angels and Local Investors
7. Texas A&M Research Contributes To Improved Ultrasound Imaging
8. Precision Optics Corporation Announces $1 Million Order for Microprecision™ Based Endoscopes
9. Delcath Systems, Inc. Secures $20 Million Credit Facility
10. CareFusion to Sell Neurodiagnostic Business to Natus Medical for $58 Million
11. Arthrosurface Hits a $100 Million Milestone
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/9/2016)... Feb. 9, 2016 This TforG report includes ... by the ICD-9 coding system in South ... procedure volumes, the report provides written and numerical analysis ... local markets. In addition, the latest reforms of the ... --> --> The report helps businesses ...
(Date:2/9/2016)... Feb. 9, 2016 The life of Dr. ... has been anything but ordinary.  Twists of fate, combined with ... II and the constraints of communist Czechoslovakia to ... would go on to make history by playing a key ... drugs in the world, Remicade.  Dr. Vilcek brings readers along ...
(Date:2/9/2016)... , Feb. 9, 2016 The new report " Global ... by Spearhead Acuity Business Research & Consulting group reveals that ... neonatal market with a share of 36.4% in 2014 that translated ... , the report also covers market analysis for Fetal and ... , Asia-Pacific , Latin America ...
Breaking Medicine Technology:
(Date:2/9/2016)... ... 09, 2016 , ... Cirracore Enterprise Cloud, today announced that ... the cloud. Cirracore provides a secure VMware® vCloud Air based cloud that ... Transformation Solutions (TSL Partners) provides a full range of services from planning, discovery, ...
(Date:2/9/2016)... ... February 09, 2016 , ... Establishment Labs, a global ... David Hung to the company´s Board of Directors. , “We are honored ... and an exceptional entrepreneur.” said Juan Jose Chacon Quiros, CEO of Establishment Labs. "David’s ...
(Date:2/9/2016)... ... February 09, 2016 , ... The ... Herberger’s and Younkers department stores, announced it has raised $176,000 to benefit the ... Holden Comprehensive Cancer Center at the University of Iowa, The Lynn Sage Cancer ...
(Date:2/9/2016)... ... February 09, 2016 , ... METTLER TOLEDO has published a ... a basic understanding of the techniques they use so they can more easily ... reduce waste and rework to create a leaner overall lab experience. , ...
(Date:2/9/2016)... ... February 09, 2016 , ... United Methodist ... Praise of Prevention,” an animated video designed to prevent the next ... of the video are being distributed throughout Togo, Liberia, Sierra Leone, Nigeria, Côte ...
Breaking Medicine News(10 mins):