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million Series A financing round, accordingh to a U.S. Securities and Exchange Commission The Austin-based company is developing an inhalation-based drug deliveryy system and will use the funds to continue development of its NanoCluster technology in the dry powdeer therapeutics market. Savara, which moved from Kansas last didn’t disclose its investors, but the SEC filing indicates they've attractedx 13 backers. Savara was founded in 2007 with technologyy developed atthe . In late 2008, it moved to the five monthz after Austin entrepreneur Rob Neville was namedthe company’s chairman and CEO.
Nevill previously was founder and CEO ofanother ATI-based That startup was acquirer in 2000 by Houston-based for $100 millionh about a year after it was Savara’s pulmonary — or via the lungs drug delivery product, initially developed in 2004, is basedx on nanotechnology and dry powders rather than conventional propellants. It plans to offer its platfor m to drug makers seeking alternative delivery methods and to developl itsown drugs. Last year, Savars garnered an undisclosed amount of financing from a syndicatew of 12angel investors, most based in Neville said. During 2008, Austin-area life scienceds companies attracted $18.7 million in ventures capital comparedwith $195.
1 million in according to .
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