Savara nabs $5M award from CF nonprofit to support development of AeroVanc; shares up 4%

|About: Savara Inc. (SVRA)|By:, SA News Editor

The Cystic Fibrosis Foundation Therapeutics, the nonprofit drug discovery and development affiliate of the CF Foundation, awards up to $5M to Savara (SVRA +3.9%) to support the continued development of AeroVanc (vancomycin hydrochloride inhalation powder) for the treatment of persistent methicillin-resistant Staphylococcus aureus (MRSA) lung infection in people with cystic fibrosis (CF).

The company can access the funds as needed contingent on the achievement of certain milestones in the AeroVanc program and the Phase 3 AVAIL study.

The company says AeroVanc is the first inhaled antibiotic being developed for this population of patients.

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