Savara inks $15m loan agreement

Savara (NSDQ:SVRA) said today that it inked a $15 million loan agreement with Silicon Valley Bank. According to the deal, Savara can draw $7.5 million from the $15 million debt facility immediately. The company said it plans to use its newly-acquired capital to repay the pre-merger debt of $3.7 million it owes to Hercules Technology Growth Capital. The rest of the funds are slated to support ongoing development programs and general corporate activities. Get the full story at our sister site, Drug Delivery Business News. The post Savara inks $15m loan agreement appeared first on MassDevice.
Source: Mass Device - Category: Medical Equipment Authors: Tags: Funding Roundup Pharmaceuticals Respiratory Wall Street Beat Savara Inc. Source Type: news