Savara (SVRA) SC 13G Savara Inc

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC  20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No.)   ^*

Savara Inc.

(Name of Issuer)

Common Stock, par value $0.001 per share

(Title of Class of Securities)

805111101

(Cusip Number)

June 2, 2017

(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)

^* The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

(Continued on following pages)

Page 1 of 35 Pages

Exhibit Index Found on Page 33

Page 1 of 35 Pages

13G

CUSIP No. 805111101

1	NAMES OF REPORTING PERSONS   Farallon Capital Partners, L.P.
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)                                                                                                                                                                   (a) [     ]                                                                                                                                                       (b) [ X ]** **The reporting persons making this filing hold an aggregate of 2,225,000 Shares, which is 9.5% of the class of securities.  The reporting person on this cover page, however, is a beneficial owner only of the securities reported by it on this cover page.
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION   California
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING   PERSON WITH		5	SOLE VOTING POWER   -0-
		6	SHARED VOTING POWER   511,700
		7	SOLE DISPOSITIVE POWER   -0-
		8	SHARED DISPOSITIVE POWER   511,700
9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON   511,700
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES   CERTAIN SHARES (See Instructions)                                                                                                                                                                                      [     ]
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)   2.2%
12	TYPE OF REPORTING PERSON (See Instructions)   PN

Page 2 of 35 Pages

13G

CUSIP No. 805111101

1	NAMES OF REPORTING PERSONS   Farallon Capital Institutional Partners, L.P.
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)                                                                                                                                                                   (a) [     ]                                                                                                                                                       (b) [ X ]** **The reporting persons making this filing hold an aggregate of 2,225,000 Shares, which is 9.5% of the class of securities.  The reporting person on this cover page, however, is a beneficial owner only of the securities reported by it on this cover page.
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION   California
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING  PERSON WITH		5	SOLE VOTING POWER   -0-
		6	SHARED VOTING POWER   461,700
		7	SOLE DISPOSITIVE POWER   -0-
		8	SHARED DISPOSITIVE POWER   461,700
9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON   461,700
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES   CERTAIN SHARES (See Instructions)                                                                                                                                                                                      [     ]
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)   2.0%
12	TYPE OF REPORTING PERSON (See Instructions)   PN

Page 3 of 35 Pages

13G

CUSIP No. 805111101

1	NAMES OF REPORTING PERSONS   Farallon Capital Institutional Partners II, L.P.
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)                                                                                                                                                                   (a) [     ]                                                                                                                                                       (b) [ X ]** **The reporting persons making this filing hold an aggregate of 2,225,000 Shares, which is 9.5% of the class of securities.  The reporting person on this cover page, however, is a beneficial owner only of the securities reported by it on this cover page.
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION   California
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING  PERSON WITH		5	SOLE VOTING POWER   -0-
		6	SHARED VOTING POWER   77,900
		7	SOLE DISPOSITIVE POWER   -0-
		8	SHARED DISPOSITIVE POWER   77,900
9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON   77,900
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES   CERTAIN SHARES (See Instructions)                                                                                                                                                                                      [     ]
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)   0.3%
12	TYPE OF REPORTING PERSON (See Instructions)   PN

Page 4 of 35 Pages

13G

CUSIP No. 805111101

1	NAMES OF REPORTING PERSONS   Farallon Capital Institutional Partners III, L.P.
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)                                                                                                                                                                   (a) [     ]                                                                                                                                                       (b) [ X ]** **The reporting persons making this filing hold an aggregate of 2,225,000 Shares, which is 9.5% of the class of securities.  The reporting person on this cover page, however, is a beneficial owner only of the securities reported by it on this cover page.
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-
		6	SHARED VOTING POWER   61,200
		7	SOLE DISPOSITIVE POWER   -0-
		8	SHARED DISPOSITIVE POWER   61,200
9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON   61,200
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES   CERTAIN SHARES (See Instructions)                                                                                                                                                                                      [     ]
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)   0.3%
12	TYPE OF REPORTING PERSON (See Instructions)   PN

Page 5 of 35 Pages

13G

CUSIP No. 805111101

1	NAMES OF REPORTING PERSONS   Farallon Capital Institutional Partners V, L.P.
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)                                                                                                                                                                   (a) [     ]                                                                                                                                                       (b) [ X ]** **The reporting persons making this filing hold an aggregate of 2,225,000 Shares, which is 9.5% of the class of securities.  The reporting person on this cover page, however, is a beneficial owner only of the securities reported by it on this cover page.
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-
		6	SHARED VOTING POWER   77,900
		7	SOLE DISPOSITIVE POWER   -0-
		8	SHARED DISPOSITIVE POWER   77,900
9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON   77,900
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES   CERTAIN SHARES (See Instructions)                                                                                                                                                                                      [     ]
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)   0.3%
12	TYPE OF REPORTING PERSON (See Instructions)   PN

Page 6 of 35 Pages

13G

CUSIP No. 805111101

1	NAMES OF REPORTING PERSONS   Farallon Capital Offshore Investors II, L.P.
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)                                                                                                                                                                   (a) [     ]                                                                                                                                                       (b) [ X ]** **The reporting persons making this filing hold an aggregate of 2,225,000 Shares, which is 9.5% of the class of securities.  The reporting person on this cover page, however, is a beneficial owner only of the securities reported by it on this cover page.
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION   Cayman Islands
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING  PERSON WITH		5	SOLE VOTING POWER   -0-
		6	SHARED VOTING POWER   906,700
		7	SOLE DISPOSITIVE POWER   -0-
		8	SHARED DISPOSITIVE POWER   906,700
9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON   906,700
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES   CERTAIN SHARES (See Instructions)                                                                                                                                                                                      [     ]
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)   3.9%
12	TYPE OF REPORTING PERSON (See Instructions)   PN

Page 7 of 35 Pages

13G

CUSIP No. 805111101

1	NAMES OF REPORTING PERSONS   Farallon Capital (AM) Investors, L.P.
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)                                                                                                                                                                   (a) [     ]                                                                                                                                                       (b) [ X ]** **The reporting persons making this filing hold an aggregate of 2,225,000 Shares, which is 9.5% of the class of securities.  The reporting person on this cover page, however, is a beneficial owner only of the securities reported by it on this cover page.
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-
		6	SHARED VOTING POWER   38,974
		7	SOLE DISPOSITIVE POWER   -0-
		8	SHARED DISPOSITIVE POWER   38,974
9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON   38,974
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES   CERTAIN SHARES (See Instructions)                                                                                                                                                                                      [     ]
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)   0.2%
12	TYPE OF REPORTING PERSON (See Instructions)   PN

Page 8 of 35 Pages

13G

CUSIP No. 805111101

1	NAMES OF REPORTING PERSONS   Farallon Capital F5 Master I, L.P.
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)                                                                                                                                                                   (a) [     ]                                                                                                                                                       (b) [ X ]** **The reporting persons making this filing hold an aggregate of 2,225,000 Shares, which is 9.5% of the class of securities.  The reporting person on this cover page, however, is a beneficial owner only of the securities reported by it on this cover page.
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION   Cayman Islands
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING  PERSON WITH		5	SOLE VOTING POWER   -0-
		6	SHARED VOTING POWER   55,626
		7	SOLE DISPOSITIVE POWER   -0-
		8	SHARED DISPOSITIVE POWER   55,626
9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON   55,626
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES   CERTAIN SHARES (See Instructions)                                                                                                                                                                                      [     ]
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)   0.2%
12	TYPE OF REPORTING PERSON (See Instructions)   PN

Page 9 of 35 Pages

13G

CUSIP No. 805111101

1	NAMES OF REPORTING PERSONS   Farallon Capital Management, L.L.C.
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)                                                                                                                                                                   (a) [     ]                                                                                                                                                       (b) [ X ]** **The reporting persons making this filing hold an aggregate of 2,225,000 Shares, which is 9.5% of the class of securities.  The reporting person on this cover page, however, may be deemed a beneficial owner only of the securities reported by it on this cover page.
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-
		6	SHARED VOTING POWER   33,300
		7	SOLE DISPOSITIVE POWER   -0-
		8	SHARED DISPOSITIVE POWER   33,300
9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON   33,300
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES   CERTAIN SHARES (See Instructions)                                                                                                                                                                                      [     ]
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)   0.1%
12	TYPE OF REPORTING PERSON (See Instructions)   IA, OO

Page 10 of 35 Pages

13G

CUSIP No. 805111101

1	NAMES OF REPORTING PERSONS   Farallon Partners, L.L.C.
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)                                                                                                                                                                   (a) [     ]                                                                                                                                                       (b) [ X ]** **The reporting persons making this filing hold an aggregate of 2,225,000 Shares, which is 9.5% of the class of securities.  The reporting person on this cover page, however, may be deemed a beneficial owner only of the securities reported by it on this cover page.
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-
		6	SHARED VOTING POWER   2,136,074
		7	SOLE DISPOSITIVE POWER   -0-
		8	SHARED DISPOSITIVE POWER   2,136,074
9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON   2,136,074
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES   CERTAIN SHARES (See Instructions)                                                                                                                                                                                      [     ]
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)   9.1%
12	TYPE OF REPORTING PERSON (See Instructions)   OO

Page 11 of 35 Pages

13G

CUSIP No. 805111101

1	NAMES OF REPORTING PERSONS   Farallon Institutional (GP) V, L.L.C.
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)                                                                                                                                                                   (a) [     ]                                                                                                                                                       (b) [ X ]** **The reporting persons making this filing hold an aggregate of 2,225,000 Shares, which is 9.5% of the class of securities.  The reporting person on this cover page, however, may be deemed a beneficial owner only of the securities reported by it on this cover page.
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-
		6	SHARED VOTING POWER   77,900
		7	SOLE DISPOSITIVE POWER   -0-
		8	SHARED DISPOSITIVE POWER   77,900
9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON   77,900
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES   CERTAIN SHARES (See Instructions)                                                                                                                                                                                      [     ]
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)   0.3%
12	TYPE OF REPORTING PERSON (See Instructions)   OO

Page 12 of 35 Pages

13G

CUSIP No. 805111101

1	NAMES OF REPORTING PERSONS   Farallon F5 (GP), L.L.C.
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)                                                                                                                                                                   (a) [     ]                                                                                                                                                       (b) [ X ]** **The reporting persons making this filing hold an aggregate of 2,225,000 Shares, which is 9.5% of the class of securities.  The reporting person on this cover page, however, may be deemed a beneficial owner only of the securities reported by it on this cover page.
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-
		6	SHARED VOTING POWER   55,626
		7	SOLE DISPOSITIVE POWER   -0-
		8	SHARED DISPOSITIVE POWER   55,626
9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON   55,626
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES   CERTAIN SHARES (See Instructions)                                                                                                                                                                                      [     ]
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)   0.2%
12	TYPE OF REPORTING PERSON (See Instructions)   OO

Page 13 of 35 Pages

13G

CUSIP No. 805111101

1	NAMES OF REPORTING PERSONS   Philip D. Dreyfuss
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)                                                                                                                                                                   (a) [     ]                                                                                                                                                       (b) [ X ]** **The reporting persons making this filing hold an aggregate of 2,225,000 Shares, which is 9.5% of the class of securities.  The reporting person on this cover page, however, may be deemed a beneficial owner only of the securities reported by him on this cover page.
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-
		6	SHARED VOTING POWER   2,225,000
		7	SOLE DISPOSITIVE POWER   -0-
		8	SHARED DISPOSITIVE POWER   2,225,000
9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON   2,225,000
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES   CERTAIN SHARES (See Instructions)                                                                                                                                                                                      [     ]
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)   9.5%
12	TYPE OF REPORTING PERSON (See Instructions)   IN

Page 14 of 35 Pages

13G

CUSIP No. 805111101

1	NAMES OF REPORTING PERSONS   Michael B. Fisch
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)                                                                                                                  ��                                                (a) [     ]                                                                                                                                                       (b) [ X ]** **The reporting persons making this filing hold an aggregate of 2,225,000 Shares, which is 9.5% of the class of securities.  The reporting person on this cover page, however, may be deemed a beneficial owner only of the securities reported by him on this cover page.
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-
		6	SHARED VOTING POWER   2,225,000
		7	SOLE DISPOSITIVE POWER   -0-
		8	SHARED DISPOSITIVE POWER   2,225,000
9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON   2,225,000
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES   CERTAIN SHARES (See Instructions)                                                                                                                                                                                      [     ]
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)   9.5%
12	TYPE OF REPORTING PERSON (See Instructions)   IN

Page 15 of 35 Pages

13G

CUSIP No. 805111101

1	NAMES OF REPORTING PERSONS   Richard B. Fried
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)                                                                                                                                                                   (a) [     ]                                                                                                                                                       (b) [ X ]** **The reporting persons making this filing hold an aggregate of 2,225,000 Shares, which is 9.5% of the class of securities.  The reporting person on this cover page, however, may be deemed a beneficial owner only of the securities reported by him on this cover page.
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-
		6	SHARED VOTING POWER   2,225,000
		7	SOLE DISPOSITIVE POWER   -0-
		8	SHARED DISPOSITIVE POWER   2,225,000
9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON   2,225,000
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES   CERTAIN SHARES (See Instructions)                                                                                                                                                                                      [     ]
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)   9.5%
12	TYPE OF REPORTING PERSON (See Instructions)   IN

Page 16 of 35 Pages

13G

CUSIP No. 805111101

1	NAMES OF REPORTING PERSONS   David T. Kim
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)                                                                                                                                                                   (a) [     ]                                                                                                                                                       (b) [ X ]** **The reporting persons making this filing hold an aggregate of 2,225,000 Shares, which is 9.5% of the class of securities.  The reporting person on this cover page, however, may be deemed a beneficial owner only of the securities reported by him on this cover page.
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-
		6	SHARED VOTING POWER   2,225,000
		7	SOLE DISPOSITIVE POWER   -0-
		8	SHARED DISPOSITIVE POWER   2,225,000
9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON   2,225,000
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES   CERTAIN SHARES (See Instructions)                                                                                                                                                                                      [     ]
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)   9.5%
12	TYPE OF REPORTING PERSON (See Instructions)   IN

Page 17 of 35 Pages

13G

CUSIP No. 805111101

1	NAMES OF REPORTING PERSONS   Monica R. Landry
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)                                                                                                                                                                   (a) [     ]                                                                                                                                                       (b) [ X ]** **The reporting persons making this filing hold an aggregate of 2,225,000 Shares, which is 9.5% of the class of securities.  The reporting person on this cover page, however, may be deemed a beneficial owner only of the securities reported by her on this cover page.
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-
		6	SHARED VOTING POWER   2,225,000
		7	SOLE DISPOSITIVE POWER   -0-
		8	SHARED DISPOSITIVE POWER   2,225,000
9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON   2,225,000
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES   CERTAIN SHARES (See Instructions)                                                                                                                                                                                      [     ]
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)   9.5%
12	TYPE OF REPORTING PERSON (See Instructions)   IN

Page 18 of 35 Pages

13G

CUSIP No. 805111101

1	NAMES OF REPORTING PERSONS   Michael G. Linn
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)                                                                                                                                                                   (a) [     ]                                                                                                                                                       (b) [ X ]** **The reporting persons making this filing hold an aggregate of 2,225,000 Shares, which is 9.5% of the class of securities.  The reporting person on this cover page, however, may be deemed a beneficial owner only of the securities reported by him on this cover page.
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-
		6	SHARED VOTING POWER   2,225,000
		7	SOLE DISPOSITIVE POWER   -0-
		8	SHARED DISPOSITIVE POWER   2,225,000
9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON   2,225,000
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES   CERTAIN SHARES (See Instructions)                                                                                                                                                                                      [     ]
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)   9.5%
12	TYPE OF REPORTING PERSON (See Instructions)   IN

Page 19 of 35 Pages

13G

CUSIP No. 805111101

1	NAMES OF REPORTING PERSONS   Ravi K. Paidipaty
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)                                                                                                                                                                   (a) [     ]                                                                                                                                                       (b) [ X ]** **The reporting persons making this filing hold an aggregate of 2,225,000 Shares, which is 9.5% of the class of securities.  The reporting person on this cover page, however, may be deemed a beneficial owner only of the securities reported by him on this cover page.
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-
		6	SHARED VOTING POWER   2,225,000
		7	SOLE DISPOSITIVE POWER   -0-
		8	SHARED DISPOSITIVE POWER   2,225,000
9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON   2,225,000
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES   CERTAIN SHARES (See Instructions)                                                                                                                                                                                      [     ]
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)   9.5%
12	TYPE OF REPORTING PERSON (See Instructions)   IN

Page 20 of 35 Pages

13G

CUSIP No. 805111101

1	NAMES OF REPORTING PERSONS   Rajiv A. Patel
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)                                                                                                                                                                   (a) [     ]                                                                                                                                                       (b) [ X ]** **The reporting persons making this filing hold an aggregate of 2,225,000 Shares, which is 9.5% of the class of securities.  The reporting person on this cover page, however, may be deemed a beneficial owner only of the securities reported by him on this cover page.
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-
		6	SHARED VOTING POWER   2,225,000
		7	SOLE DISPOSITIVE POWER   -0-
		8	SHARED DISPOSITIVE POWER   2,225,000
9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON   2,225,000
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES   CERTAIN SHARES (See Instructions)                                                                                                                                                                                      [     ]
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)   9.5%
12	TYPE OF REPORTING PERSON (See Instructions)   IN

Page 21 of 35 Pages

13G

CUSIP No. 805111101

1	NAMES OF REPORTING PERSONS   Thomas G. Roberts, Jr.
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)                                                                                                                                                                   (a) [     ]                                                                                                                                                       (b) [ X ]** **The reporting persons making this filing hold an aggregate of 2,225,000 Shares, which is 9.5% of the class of securities.  The reporting person on this cover page, however, may be deemed a beneficial owner only of the securities reported by him on this cover page.
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-
		6	SHARED VOTING POWER   2,225,000
		7	SOLE DISPOSITIVE POWER   -0-
		8	SHARED DISPOSITIVE POWER   2,225,000
9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON   2,225,000
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES   CERTAIN SHARES (See Instructions)                                                                                                                                                                                      [     ]
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)   9.5%
12	TYPE OF REPORTING PERSON (See Instructions)   IN

Page 22 of 35 Pages

13G

CUSIP No. 805111101

1	NAMES OF REPORTING PERSONS   William Seybold
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)                                                                                                                                                                   (a) [     ]                                                                                                                                                       (b) [ X ]** **The reporting persons making this filing hold an aggregate of 2,225,000 Shares, which is 9.5% of the class of securities.  The reporting person on this cover page, however, may be deemed a beneficial owner only of the securities reported by him on this cover page.
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION   United Kingdom
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING  PERSON WITH		5	SOLE VOTING POWER   -0-
		6	SHARED VOTING POWER   2,225,000
		7	SOLE DISPOSITIVE POWER   -0-
		8	SHARED DISPOSITIVE POWER   2,225,000
9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON   2,225,000
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES   CERTAIN SHARES (See Instructions)                                                                                                                                                                                      [     ]
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)   9.5%
12	TYPE OF REPORTING PERSON (See Instructions)   IN

Page 23 of 35 Pages

13G

CUSIP No. 805111101

1	NAMES OF REPORTING PERSONS   Andrew J. M. Spokes
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)                                                                                                                                                                   (a) [     ]                                                                                                                                                       (b) [ X ]** **The reporting persons making this filing hold an aggregate of 2,225,000 Shares, which is 9.5% of the class of securities.  The reporting person on this cover page, however, may be deemed a beneficial owner only of the securities reported by him on this cover page.
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION   United Kingdom
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING  PERSON WITH		5	SOLE VOTING POWER   -0-
		6	SHARED VOTING POWER   2,225,000
		7	SOLE DISPOSITIVE POWER   -0-
		8	SHARED DISPOSITIVE POWER   2,225,000
9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON   2,225,000
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES   CERTAIN SHARES (See Instructions)                                                                                                                                                                                      [     ]
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)   9.5%
12	TYPE OF REPORTING PERSON (See Instructions)   IN

Page 24 of 35 Pages

13G

CUSIP No. 805111101

1	NAMES OF REPORTING PERSONS   John R. Warren
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)                                                                                                                                                                   (a) [     ]                                                                                                                                                       (b) [ X ]** **The reporting persons making this filing hold an aggregate of 2,225,000 Shares, which is 9.5% of the class of securities.  The reporting person on this cover page, however, may be deemed a beneficial owner only of the securities reported by him on this cover page.
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-
		6	SHARED VOTING POWER   2,225,000
		7	SOLE DISPOSITIVE POWER   -0-
		8	SHARED DISPOSITIVE POWER   2,225,000
9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON   2,225,000
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES   CERTAIN SHARES (See Instructions)                                                                                                                                                                                      [     ]
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)   9.5%
12	TYPE OF REPORTING PERSON (See Instructions)   IN

Page 25 of 35 Pages

13G

CUSIP No. 805111101

1	NAMES OF REPORTING PERSONS   Mark C. Wehrly
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)                                                                                                                                                                   (a) [     ]                                                                                                                                                       (b) [ X ]** **The reporting persons making this filing hold an aggregate of 2,225,000 Shares, which is 9.5% of the class of securities.  The reporting person on this cover page, however, may be deemed a beneficial owner only of the securities reported by him on this cover page.
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-
		6	SHARED VOTING POWER   2,225,000
		7	SOLE DISPOSITIVE POWER   -0-
		8	SHARED DISPOSITIVE POWER   2,225,000
9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON   2,225,000
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES   CERTAIN SHARES (See Instructions)                                                                                                                                                                                      [     ]
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)   9.5%
12	TYPE OF REPORTING PERSON (See Instructions)   IN

Page 26 of 35 Pages

Item 1. Issuer

(a)Name of Issuer:

Savara Inc. (the "Company")

(b)Address of Issuer's Principal Executive Offices:

900 South Capital of Texas Highway, Las Cimas IV, Suite 150

Austin, TX 78746

Item 2. Identity and Background

Title of Class of Securities and CUSIP Number (Items 2(d) and (e))

This statement relates to shares of Common Stock, par value $0.001 per share (the "Shares"), ofthe Company.  The CUSIP number of the Shares is 805111101.

Name of Persons Filing, Address of Principal Business Office and Citizenship (Items 2(a), (b) and (c))

This statement is filed by the entities and persons listed below, all of whom together are referred to herein as the "Reporting Persons."

The Farallon Funds

(i)                 Farallon Capital Partners, L.P., a California limited partnership ("FCP"), with respect to the Shares held by it;

(ii) Farallon Capital Institutional Partners, L.P., a California limited partnership ("FCIP"), with respect to the Shares held by it;

(iii) Farallon Capital Institutional Partners II, L.P., a California limited partnership ("FCIP II"), with respect to the Shares held by it;

(iv) Farallon Capital Institutional Partners III, L.P., a Delaware limited partnership ("FCIP III"), with respect to the Shares held by it;

(v) Farallon Capital Institutional Partners V, L.P., a Delaware limited partnership ("FCIP V"), with respect to the Shares held by it;

(vi) Farallon Capital Offshore Investors II, L.P., a Cayman Islands exempted limited partnership ("FCOI II"), with respect to the Shares held by it;

(vii) Farallon Capital (AM) Investors, L.P., a Delaware limited partnership ("FCAMI"), with respect to the Shares held by it; and

Page 27 of 35 Pages

(viii) Farallon Capital F5 Master I, L.P., a Cayman Islands exempted limited partnership ("F5MI"), with respect to the Shares held by it.

FCP, FCIP, FCIP II, FCIP III, FCIP V, FCOI II, FCAMI and F5MI are together referred to herein as the "Farallon Funds."

The Management Company

(ix) Farallon Capital Management, L.L.C., a Delaware limited liability company (the "Management Company"), with respect to the Shares held by one or more accounts (the "Managed Accounts"), each as managed by the Management Company.

The Farallon General Partner

(x) Farallon Partners, L.L.C., a Delaware limited liability company (the "Farallon General Partner"), which is the general partner of each of FCP, FCIP, FCIP II, FCIP III, FCOI II and FCAMI and the sole member of the FCIP V General Partner (as defined below), with respect to the Shares held by each of the Farallon Funds other than F5MI.

The FCIP V General Partner

(xi) Farallon Institutional (GP) V, L.L.C., a Delaware limited liability company (the "FCIP V General Partner"), which is the general partner of FCIP V, with respect to the Shares held by FCIP V.

The F5MI General Partner

(xii) Farallon F5 (GP), L.L.C., a Delaware limited liability company (the "F5MI General Partner"), which is the general partner of F5MI, with respect to the Shares held by F5MI.

The Farallon Individual Reporting Persons

(xiii) The following persons, each of whom is a managing member of both the Farallon General Partner and the Management Company, a manager or senior manager, as the case may be, of the FCIP V General Partner, and a director and/or officer of the general partner of the sole member of the F5MI General Partner, with respect to the Shares held by the Farallon Funds and the Managed Accounts:  Philip D. Dreyfuss ("Dreyfuss"), Michael B. Fisch ("Fisch"), Richard B. Fried ("Fried"), David T. Kim ("Kim"), Monica R. Landry ("Landry"), Michael G. Linn ("Linn"), Ravi K. Paidipaty ("Paidipaty"), Rajiv A. Patel ("Patel"), Thomas G. Roberts, Jr. ("Roberts"), William Seybold ("Seybold"), Andrew J. M. Spokes ("Spokes"), John R. Warren ("Warren") and Mark C. Wehrly ("Wehrly").

Page 28 of 35 Pages

Dreyfuss, Fisch, Fried, Kim, Landry, Linn, Paidipaty, Patel, Roberts, Seybold, Spokes, Warren and Wehrly are together referred to herein as the "Farallon Individual Reporting Persons."

The citizenship of each of the Farallon Funds, the Management Company, the Farallon General Partner, the FCIP V General Partner and the F5MI General Partner is set forth above.  Each of the Farallon Individual Reporting Persons, other than Spokes, is a citizen of the United States.  Spokes is a citizen of the United Kingdom.  The address of the principal business office of each of the Reporting Persons is c/o Farallon Capital Management, L.L.C., One Maritime Plaza, Suite 2100, San Francisco, California 94111.

Item 3. If This Statement Is Filed Pursuant to Sections 240.13d-1(b) or 240.13d-2(b) or (c), Check Whether the Person Filing Is an Entity Specified in (a) - (k):

Not applicable.

Item 4. Ownership

The information required by Items 4(a) - (c) and set forth in Rows 5 through 11 of the cover page for each Reporting Person is incorporated herein by reference for each such Reporting Person.

The Shares reported hereby for the Farallon Funds are owned directly by the Farallon Funds, and those reported by the Management Company on behalf of the Managed Accounts are owned directly by the Managed Accounts. The Management Company, as investment adviser to the Managed Accounts, may be deemed to be a beneficial owner of all such Shares owned by the Managed Accounts.  The Farallon General Partner, as general partner of the Farallon Funds other than F5MI and the sole member of the FCIP V General Partner, may be deemed to be a beneficial owner of all such Shares owned by the Farallon Funds other than F5MI.  The FCIP V General Partner, as general partner of FCIP V, may be deemed to be a beneficial owner of all such Shares owned by FCIP V. The F5MI General Partner, as general partner of F5MI, may be deemed to be a beneficial owner of all such Shares owned by F5MI. Each of the Farallon Individual Reporting Persons, as a managing member of both the Farallon General Partner and the Management Company, a manager or senior manager, as the case may be, of the FCIP V General Partner, and a director and/or officer of the general partner of the sole member of the F5MI General Partner, in each case with the power to exercise investment discretion, may be deemed to be a beneficial owner of all such Shares owned by the Farallon Funds and the Managed Accounts.  Each of the Management Company, the Farallon General Partner, the FCIP V General Partner, the F5MI General Partner and the Farallon Individual Reporting Persons hereby disclaims any beneficial ownership of any such Shares.

Item 5. Ownership of Five Percent or Less of a Class

Not applicable.

Item 6. Ownership of More than Five Percent on Behalf of Another Person

Not applicable.

Page 29 of 35 Pages

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

The Reporting Persons are filing this Schedule 13G pursuant to Section 240.13d-1(c).  Consistent with Item 2 of the cover page for each Reporting Person above, the Reporting Persons neither disclaim nor affirm the existence of a group among them.

Item 9. Notice of Dissolution of Group

Not applicable.

Item 10. Certification

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.

Page 30 of 35 Pages

SIGNATURES

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

Dated:  June 12, 2017

/s/ Monica R. Landry

FARALLON PARTNERS, L.L.C.,

On its own behalf and

As the General Partner of

FARALLON CAPITAL PARTNERS, L.P.,

FARALLON CAPITAL INSTITUTIONAL PARTNERS, L.P.,

FARALLON CAPITAL INSTITUTIONAL PARTNERS II, L.P.,

FARALLON CAPITAL INSTITUTIONAL PARTNERS III, L.P.,

FARALLON CAPITAL OFFSHORE INVESTORS II, L.P. and

FARALLON CAPITAL (AM) INVESTORS, L.P.

By Monica R. Landry, Managing Member

/s/ Monica R. Landry

FARALLON CAPITAL MANAGEMENT, L.L.C.

By Monica R. Landry, Managing Member

/s/ Monica R. Landry

FARALLON INSTITUTIONAL (GP) V, L.L.C.

On its own behalf and

As the General Partner of

FARALLON CAPITAL INSTITUTIONAL PARTNERS V, L.P.

By Monica R. Landry, Manager

/s/ Monica R. Landry

FARALLON F5 (GP), L.L.C.

On its own behalf and

As the General Partner of

FARALLON CAPITAL F5 MASTER I, L.P.

By Monica R. Landry, Authorized Signatory

/s/ Monica R. Landry

Monica R. Landry, individually and as attorney-in-fact for each of Philip D. Dreyfuss, Michael B. Fisch, Richard B. Fried, David T. Kim, Michael G. Linn, Ravi K. Paidipaty, Rajiv A. Patel, Thomas G. Roberts, Jr., William Seybold, Andrew J. M. Spokes, John R. Warren and Mark C. Wehrly

The Powers of Attorney executed by each of Fisch, Fried, Kim, Linn, Patel, Roberts, Spokes, Warren and Wehrly authorizing Landry to sign and file this Schedule 13G on his behalf, which were filed as exhibits to the Schedule 13D filed with the SEC on August 26, 2014 by such Reporting Persons with respect to the Common Stock of Town Sports International Holdings Inc., are hereby incorporated by reference.

Page 31 of 35 Pages

The Powers of Attorney executed by each of Dreyfuss, Paidipaty and Seybold authorizing Landry to sign and file this Schedule 13G on his behalf, which were filed as exhibits to the Schedule 13G filed with the SEC on January 11, 2017 by such Reporting Persons with respect to the Common Stock of Sky Solar Holdings, Ltd., are hereby incorporated by reference.

Page 32 of 35 Pages

EXHIBIT INDEX

EXHIBIT 1 Joint Acquisition Statement Pursuant to Section 240.13d-1(k)  

Page 33 of 35 Pages

EXHIBIT 1

to

SCHEDULE 13G

JOINT ACQUISITION STATEMENT

PURSUANT TO SECTION 240.13d-1(k)

The undersigned acknowledge and agree that the foregoing statement on Schedule 13G is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on Schedule 13G shall be filed on behalf of each of the undersigned without the necessity of filing additional joint acquisition statements.  The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning him, her or it contained therein, but shall not be responsible for the completeness and accuracy of the information concerning the other entities or persons, except to the extent that he, she or it knows or has reason to believe that such information is inaccurate.

Dated:  June 12, 2017

/s/ Monica R. Landry

FARALLON PARTNERS, L.L.C.,

On its own behalf and

As the General Partner of

FARALLON CAPITAL PARTNERS, L.P.,

FARALLON CAPITAL INSTITUTIONAL PARTNERS, L.P.,

FARALLON CAPITAL INSTITUTIONAL PARTNERS II, L.P.,

FARALLON CAPITAL INSTITUTIONAL PARTNERS III, L.P.,

FARALLON CAPITAL OFFSHORE INVESTORS II, L.P. and

FARALLON CAPITAL (AM) INVESTORS, L.P.

By Monica R. Landry, Managing Member

/s/ Monica R. Landry

FARALLON CAPITAL MANAGEMENT, L.L.C.

By Monica R. Landry, Managing Member

/s/ Monica R. Landry

FARALLON INSTITUTIONAL (GP) V, L.L.C.

On its own behalf and

As the General Partner of

FARALLON CAPITAL INSTITUTIONAL PARTNERS V, L.P.

By Monica R. Landry, Manager

/s/ Monica R. Landry

FARALLON F5 (GP), L.L.C.

On its own behalf and

As the General Partner of

FARALLON CAPITAL F5 MASTER I, L.P.

Page 34 of 35 Pages

By Monica R. Landry, Authorized Signatory

/s/ Monica R. Landry

Monica R. Landry, individually and as attorney-in-fact for each of Philip D. Dreyfuss, Michael B. Fisch, Richard B. Fried, David T. Kim, Michael G. Linn, Ravi K. Paidipaty, Rajiv A. Patel, Thomas G. Roberts, Jr., William Seybold, Andrew J. M. Spokes, John R. Warren and Mark C. Wehrly

Page 35 of 35 Pages