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million Series A financing round, according to a U.S. Securitied and Exchange Commission The Austin-based company is developing an inhalation-base drug delivery system and will use the fundsw to continue development of its NanoClusterf technology in the dry powder therapeuticzs market. Savara, which move d from Kansas last year, didn’t disclose its but the SEC filingindicates they've attracted 13 Savara was founded in 2007 with technology developed at the . In late it moved to the five months after Austin entrepreneuf Rob Neville was namedthe company’s chairman and CEO.
Nevillee previously was founder and CEO ofanother ATI-based company, That startuop was acquired in 2000 by Houston-basefd for $100 million about a year afte it was founded. Savara’s pulmonary or via the lungs — drug deliveryu product, initially developed in 2004, is based on nanotechnology and dry powders rathere thanconventional propellants. It plans to offer its platform to drug makera seeking alternative delivery methods and to develo p itsown drugs. Last year, Savara garneree an undisclosed amount of financingt from a syndicate of 12angep investors, most based in Texas, Neville said. Durin g 2008, Austin-area life sciences companies attracted $18.
u million in venture capital comparedwith $195.q1 million in 2007, according to .
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