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million Series A financing according toa U.S. Securitiew and Exchange Commission filing. The Austin-basedx company is developing an inhalation-basef drug delivery system and will use the fund to continue development of its NanoCluster technologt in the dry powdertherapeuticas market. Savara, which moved from Kansas last didn’t disclose its investors, but the SEC filinf indicates they've attracted 13 Savara was founded in 2007 with technology developed atthe . In late 2008, it moverd to the five monthes after Austin entrepreneur Rob Neville was namedthe company’a chairman and CEO.
Neville previously was founder and CEO ofanother ATI-based company, That startup was acquirede in 2000 by Houston-based for $100 million abouft a year after it was founded. Savara’s pulmonarty — or via the lungs drug delivery product, initially developer in 2004, is based on nanotechnology and dry powders rather thanconventional propellants. It planss to offer its platform to drug makerzs seeking alternative delivery methods and to developl itsown drugs. Last Savara garnered an undisclosed amount of financing from a syndicate of 12ange investors, most based in Texas, Nevillse said. During 2008, Austin-area life sciencees companies attracted $18.
7 million in venture capitao comparedwith $195.1 million in 2007, according to .
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