May 1, 2017 / 12:16 PM / 3 months ago

BRIEF-Savara says has entered into a loan agreement with silicon valley bank

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May 1 (Reuters) - Svb Financial Group

* Savara inc - has entered into a loan agreement with silicon valley bank

* Savara inc - agreement provides for a $15 million debt facility, $7.5 million of which is immediately available to savara

* Savara inc - primary use of capital is for repayment of pre-merger debt of $3.7 million owed to hercules technology growth capital

* Savara inc - immediately after funding of initial $7.5 million,repayment of hercules debt, savara expects to have cash on hand of approximately $19 million.

* Savara inc - in addition, capital will be utilized to fund savara's ongoing development programs Source text for Eikon: Further company coverage:

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