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:6/24/2016)... , Belgium , June 24, ... VNRX), today announced the appointment of Dr. ... Directors as a Non-Executive Director, effective June 23, ... Audit, Compensation and Nominations and Governance Committees.  As ... Futcher will provide independent expertise and strategic counsel ...
(Date:6/23/2016)... 23, 2016 Any dentist who has made an ... current process. Many of them do not even offer this ... and high laboratory costs involved. And those who ARE able ... such a high cost that the majority of today,s patients ... Parsa Zadeh , founder of Dental Evolutions Inc. and ...
(Date:6/23/2016)... , June 23, 2016 Research and ... Devices Medical Market Analysis 2016 - Forecast to 2022" ... The report contains up to date financial data derived ... Assessment of major trends with potential impact on the market ... of market segmentation which comprises of sub markets, regional and ...
Breaking Medicine Technology:
(Date:6/25/2016)... , ... June 25, 2016 , ... On Friday, June ... a Bronze Wellness at Work award to iHire in recognition of their exemplary accomplishments ... of the 7th annual Maryland Workplace Health & Wellness Symposium at the BWI Marriott ...
(Date:6/24/2016)... ... 24, 2016 , ... June 19, 2016 is World Sickle Cell Observance Day. ... the benefits of holistic treatments, Serenity Recovery Center of Marne, Michigan, has ... , Sickle Cell Disease (SCD) is a disorder of the red blood cells, which ...
(Date:6/24/2016)... ... June 24, 2016 , ... ... for accelerated orthodontic treatment. Dr. Cheng has extensive experience with all areas of ... AcceleDent, and accelerated osteogenic orthodontics. , Micro-osteoperforation is a revolutionary adjunct to ...
(Date:6/24/2016)... , ... June 24, 2016 , ... ... at the Clinical Decision Making in Emergency Medicine conference in Ponte Vedra Beach, ... journal articles published in Emergency Medicine Practice and Pediatric Emergency Medicine ...
(Date:6/24/2016)... ... ... National recruitment firm Slone Partners is pleased to announce the ... as Vice President of North American Capital Sales at HTG Molecular . ... team in the commercialization of the HTG EdgeSeq system and associated reagents in North ...
Breaking Medicine News(10 mins):