SVRA ownership update: Venrock funds report 9M shares, 5.2% position

Rhea-AI Filing Summary

Schedule 13G filing for Savara Inc. (SVRA) shows that a group of Venrock Healthcare Capital Partners funds and related managers/individuals has crossed the 5% disclosure threshold.

• Reporting group: Venrock Healthcare Capital Partners III, L.P., VHCP Co-Investment Holdings III, LLC, Venrock Healthcare Capital Partners EG, L.P., VHCP Management III, LLC, VHCP Management EG, LLC, and principals Nimish Shah and Bong Y. Koh.
• Aggregate beneficial ownership: 9,021,507 common shares.
• Ownership breakdown: 1,997,410 shares (VHCP III); 199,772 shares (VHCP Co-Investment III); 6,824,325 shares (VHCP EG).
• Percentage of class: 5.2% of Savara’s 172,836,922 outstanding shares (as of 13 May 2025).
• Voting & dispositive power: 0 shares sole; 9,021,507 shares shared—indicating coordinated but passive ownership. Filing is under Rule 13d-1(c), not 13D, so the group states no intent to influence control.
• Date of event triggering filing: 30 June 2025; filing signed 08 July 2025.

The disclosure signals that Venrock, a life-science–focused investor, holds a meaningful but non-controlling position in Savara. Investors often view recognized sector specialists taking a >5% stake as a vote of confidence, yet the filing itself does not imply any change in Savara’s strategy, capital structure, or governance. The stake is passive and therefore has limited immediate operational impact.

Positive

• Institutional confidence: Venrock Healthcare Capital Partners and affiliates disclosed a 5.2% stake (9,021,507 shares) in Savara, adding a recognized life-science investor to the shareholder base.

Negative

• None.

Insights

Portfolio Manager

TL;DR: Venrock funds now own 5.2% of SVRA; passive filing suggests modestly positive institutional endorsement but no strategic shift.

This Schedule 13G introduces Venrock as a new 5%-plus holder, with 9.0 million shares spread across three healthcare-focused vehicles. Because the group filed under Rule 13d-1(c) and certified no intent to influence control, I view the development as neutral to slightly constructive: the company gains a sophisticated sector investor, yet there is no catalyst such as activism, board nomination, or financing. Position size is meaningful but not dominant, limiting governance leverage. From a trading perspective, additional institutional sponsorship may enhance liquidity and broaden research coverage, but valuation drivers remain clinical and regulatory milestones for Savara’s pipeline.

Corporate Governance Analyst

TL;DR: 5.2% passive stake adds a disclosed, aligned holder; governance impact minimal.

The Venrock entities act as a single group with shared voting and dispositive power, yet declare passive intent. No board seats or control actions are sought, and ownership is below thresholds that would trigger change-of-control concerns. The filing improves transparency around Savara’s shareholder base and may assist proxy advisory assessments, but does not alter existing governance dynamics. Overall impact is informational rather than structural.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Savara Inc.

(Name of Issuer)

Common Stock, par value $0.001 per share

(Title of Class of Securities)

805111101

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 805111101

1

Names of Reporting Persons

Venrock Healthcare Capital Partners III, L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 9,021,507.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 9,021,507.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

9,021,507.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.2 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP No. 805111101

1

Names of Reporting Persons

VHCP Co-Investment Holdings III, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 9,021,507.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 9,021,507.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

9,021,507.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.2 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP No. 805111101

1

Names of Reporting Persons

Venrock Healthcare Capital Partners EG, L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 9,021,507.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 9,021,507.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

9,021,507.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.2 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP No. 805111101

1

Names of Reporting Persons

VHCP Management III, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 9,021,507.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 9,021,507.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

9,021,507.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.2 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP No. 805111101

1

Names of Reporting Persons

VHCP Management EG, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 9,021,507.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 9,021,507.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

9,021,507.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.2 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP No. 805111101

1

Names of Reporting Persons

Nimish Shah

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 9,021,507.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 9,021,507.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

9,021,507.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.2 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

CUSIP No. 805111101

1

Names of Reporting Persons

Bong Y. Koh

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 9,021,507.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 9,021,507.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

9,021,507.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.2 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Savara Inc.
(b)	Address of issuer's principal executive offices: 1717 Langhorne Newtown Road, Suite 300, Langhorne, PA, 19047.
Item 2.
(a)	Name of person filing: The names of the persons filing this report (collectively, the "Reporting Persons") are: Venrock Healthcare Capital Partners III, L.P. ("VHCP III") VHCP Co-Investment Holdings III, LLC ("VHCP Co-Investment III") Venrock Healthcare Capital Partners EG, L.P. ("VHCP EG") VHCP Management III, LLC ("VHCP Management III") VHCP Management EG, LLC ("VHCP Management EG") Nimish Shah ("Shah") Bong Koh ("Koh") The Reporting Persons are members of a group for the purposes of this Schedule 13G.
(b)	Address or principal business office or, if none, residence: New York Office: 7 Bryant Park, 23rd Floor New York, NY 10018 Palo Alto Office: 3340 Hillview Avenue Palo Alto, CA 94304
(c)	Citizenship: All of the entities were organized in Delaware. Shah and Koh are both United States citizens.
(d)	Title of class of securities: Common Stock, par value $0.001 per share
(e)	CUSIP No.: 805111101
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: Row 9 of each Reporting Person's cover page to this Schedule 13G sets forth the aggregate number of shares of securities of the Issuer beneficially owned by such Reporting Person and is incorporated by reference. The Reporting Persons' ownership of the Issuer's securities consists of (i) 1,997,410 shares of common stock held by VHCP III; (ii) 199,772 shares of common stock held by VHCP Co-Investment III; and (iii) 6,824,325 shares of common stock held by VHCP EG. VHCP Management III is the general partner of VHCP III and the manager of VHCP Co-Investment III. VHCP Management EG is the general partner of VHCP EG. Messrs. Shah and Koh are the voting members of VHCP Management III and VHCP Management EG.
(b)	Percent of class: Row 11 of each Reporting Person's cover page to this Schedule 13G sets forth the percentages of the shares of securities of the Issuer beneficially owned by such Reporting Person and is incorporated by reference. The percentage set forth in each row 11 is based upon 172,836,922 shares of common stock outstanding as of May 13, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (the "SEC") on May 13, 2025.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Row 5 of each Reporting Person's cover page to this Schedule 13G sets forth the sole power to vote or to direct the vote of securities of the Issuer beneficially owned by such Reporting Person and is incorporated by reference.
	(ii) Shared power to vote or to direct the vote: Row 6 of each Reporting Person's cover page to this Schedule 13G sets forth the shared power to vote or to direct the vote of securities of the Issuer beneficially owned by such Reporting Person and is incorporated by reference.
	(iii) Sole power to dispose or to direct the disposition of: Row 7 of each Reporting Person's cover page to this Schedule 13G sets forth the sole power to dispose or to direct the disposition of securities of the Issuer beneficially owned by such Reporting Person and is incorporated by reference.
	(iv) Shared power to dispose or to direct the disposition of: Row 8 of each Reporting Person's cover page to this Schedule 13G sets forth the shared power to dispose or to direct the disposition of securities of the Issuer beneficially owned by such Reporting Person and is incorporated by reference.
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Venrock Healthcare Capital Partners III, L.P.

Signature:	/s/ Sherman G. Souther
Name/Title:	By VHCP Management III, LLC, its General Partner, By Sherman G. Souther, Authorized Signatory
Date:	07/08/2025

VHCP Co-Investment Holdings III, LLC

Signature:	/s/ Sherman G. Souther
Name/Title:	By VHCP Management III, LLC, its Manager, By Sherman G. Souther, Authorized Signatory
Date:	07/08/2025

Venrock Healthcare Capital Partners EG, L.P.

Signature:	/s/ Sherman G. Souther
Name/Title:	By VHCP Management EG, LLC, its General Partner, By Sherman G. Souther, Authorized Signatory
Date:	07/08/2025

VHCP Management III, LLC

Signature:	/s/ Sherman G. Souther
Name/Title:	By Sherman G. Souther, Authorized Signatory
Date:	07/08/2025

VHCP Management EG, LLC

Signature:	/s/ Sherman G. Souther
Name/Title:	By Sherman G. Souther, Authorized Signatory
Date:	07/08/2025

Nimish Shah

Signature:	/s/ Sherman G. Souther
Name/Title:	By Sherman G. Souther, Attorney-in-fact
Date:	07/08/2025

Bong Y. Koh

Signature:	/s/ Sherman G. Souther
Name/Title:	By Sherman G. Souther, Attorney-in-fact
Date:	07/08/2025

Exhibit Information

Exhibit 24.1 Power of Attorney for Bong Koh Exhibit 24.2 Power of Attorney for Nimish Shah Exhibit 99.1 Joint Filing Agreement

FAQ

How many Savara (SVRA) shares does Venrock report owning?

The group reports beneficial ownership of 9,021,507 common shares.

What percentage of Savara’s outstanding stock is held by Venrock according to the Schedule 13G?

The filing states Venrock’s holdings equal 5.2% of the 172,836,922 shares outstanding as of 13 May 2025.

Why did Venrock file a Schedule 13G instead of a Schedule 13D?

Rule 13d-1(c) filings indicate the shares are held passively, with no intent to influence control of Savara.

Which Venrock entities are included in the reporting group?

Entities are VHCP III, VHCP Co-Investment III, VHCP EG, VHCP Management III, VHCP Management EG, plus individuals Nimish Shah and Bong Y. Koh.

When was the event date that triggered this Schedule 13G filing?

The event date is 30 June 2025, with the statement signed on 08 July 2025.

How are the 9.0 million shares distributed among Venrock funds?

1,997,410 shares by VHCP III; 199,772 shares by VHCP Co-Investment III; 6,824,325 shares by VHCP EG.