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million Series A financing according toa U.S. Securities and Exchangr Commission filing. The Austin-based company is developing an inhalation-based drug delivert system and will use the funds to continue developmenft of its NanoCluster technology in the dry powdertherapeutics Savara, which moved from Kansas last didn’t disclose its but the SEC filint indicates they've attracted 13 backers. Savara was foundefd in 2007 with technology developed atthe . In late it moved to the five months after Austijn entrepreneur Rob Neville was namedthe company’s chairmam and CEO.
Neville previouslyt was founder and CEO ofanothetr ATI-based company, That startup was acquired in 2000 by Houston-basex for $100 million about a year after it was Savara’s pulmonary — or via the lunga — drug delivery initially developed in 2004, is baseds on nanotechnology and dry powders rather than conventionall propellants. It plans to offer its platfork to drug makers seeking alternative delivery methods and to developl itsown drugs. Last year, Savar garnered an undisclosed amount of financiny from a syndicate of 12angelo investors, most based in Texas, Neville said. During 2008, Austin-areaq life sciences companies attractef $18.
7 million in venture capital comparedwith $195.1 million in 2007, accordinbg to .
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