LANGHORNE, PA — Savara Inc. (Nasdaq: SVRA) said it has amended its loan and security agreement with Hercules Capital, Inc. (NYSE: HTGC), unlocking significant non-dilutive financing tied to a pending regulatory decision for its lead drug candidate.
Under the amended agreement, Savara will gain access to up to an additional $75 million upon approval of MOLBREEVI by the U.S. Food and Drug Administration. The company said the maturity date and interest-only period of the loan remain unchanged, and no warrants are associated with the transaction.
“In anticipation of the potential approval of MOLBREEVI later this year, Savara will be well capitalized with approximately $150 million of non-dilutive capital to support launch activities,” said Dave Lowrance, Savara’s chief financial and administrative officer. He said the total includes the amended debt facility and a separate royalty financing agreement announced in October.
MOLBREEVI is Savara’s investigational therapy for autoimmune pulmonary alveolar proteinosis, a rare lung disease. The company resubmitted its Biologics License Application to the FDA in December 2025. If the application is granted Priority Review, Savara said the therapy could be approved in the third quarter of 2026.
Savara also said it remains on track to file marketing authorization applications for MOLBREEVI in Europe and the United Kingdom by the end of the first quarter of 2026.
“Hercules Capital is thrilled to continue our partnership with Savara as they prepare for the potential launch of MOLBREEVI,” said Tom Hertzberg, managing director at Hercules Capital.
The amended loan agreement follows Savara’s October 2025 announcement of a $75 million royalty funding deal with RTW, also contingent on FDA approval of MOLBREEVI, aimed at supporting commercialization efforts.
Savara Chair and Chief Executive Officer Matt Pauls said the company enters the year with strong momentum and financial flexibility.
“We have shown strong operational excellence over the last few quarters and believe that positive momentum will continue,” Pauls said. “We enter this potential launch year on strong financial footing, enabling us to accelerate commercial investment in MOLBREEVI, a potentially first-in-class therapy in autoimmune PAP.”
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