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million Series A financing round, accordinh to a U.S. Securities and Exchange Commission filing. The Austin-based companyg is developing an inhalation-based drug deliveryt system and will use the funds to continuse development of its NanoCluster technologh in the dry powdertherapeutics Savara, which moved from Kansaes last year, didn’t disclose its investors, but the SEC filinh indicates they've attracted 13 Savara was founded in 2007 with technologhy developed at the . In late 2008, it move d to the five months after Austin entrepreneut Rob Neville was namedthe company’e chairman and CEO.
Neville previously was founder and CEO ofanothetr ATI-based company, That startup was acquired in 2000 by Houston-basedd for $100 million about a year after it was Savara’s pulmonary — or via the lungs — drug deliveryu product, initially developed in 2004, is based on nanotechnology and dry powdera rather than conventional propellants. It plans to offer its platfork to drug makers seeking alternative delivery methods and to develoo itsown drugs. Last Savara garnered an undisclosed amount of financing from a syndicatde of 12 angel most basedin Texas, Neville said. Durin g 2008, Austin-area life sciences companies attracted $18.
7u million in venture capital comparedwith $195.1 million in according to .
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