Tech Coast Angels congratulated Savara Inc (NASDAQ:SVRA) on its recent listing on the renowned NASDAQ platform. The clinical-stage specialty pharma firm’s Series ‘B’ round in 2012-13 marked as the largest single raise by Tech Coast. Overall, TCA participants together with a few friends and family have invested more than $6 million in different financing rounds of company, the most for any portfolio firm since TCA’s initiation in 1997.
In total, Savara obtained around $50 million in non-institutional capital, and has also received grant of $4 million from the National Institutes of Health and research award of $1.7 million from the Cystic Fibrosis Foundation. Almost every funding round was extended and oversubscribed.
Sergio Gurrieri, The TCA deal lead, and observer on the Savara Board, stated three major elements that made company a winning formula for angel shareholders. First of all, Mr. Rob Neville, the CEO and chairman of company, is truly exceptional. He sticks to a well-balanced and effective decision-making procedure whereby every single shareholder’s opinion is measured. Also, Rob’s implementation skills are exceptional, his integrity is flawless, his communication skills influential, and his management style extremely professional.
The next reason as stated by the Gurrieri is that the entire Savara team is impressive. Their ability to execute is unmatchable. In particular, the COO Dr. Taneli Jouhikainen has been vital in company, its programs, and corporate advancement activities. Jouhikainen is one of the most knowledgeable and talented COO’s Gurrieri has ever had the delight of knowing.
The third reason is Savara’s board of directors is extremely outstanding. The collective experience and wisdom, the level of expertise, the constructive conversations, led in an exceptional board for an extraordinary firm.
In the last trading session, the stock price of Savara declined more than 2% to close the day at $5. The gains came at a share volume of 76,182 compared to average share volume of 123,877.