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million Series A financing round, according to a U.S. Securitied and Exchange Commission filing. The Austin-based company is developinf an inhalation-based drug delivery system and will use the funds to continu development of its NanoCluster technology in the dry powdertherapeuticsw market. Savara, which moved from Kansas last didn’t disclose its investors, but the SEC filing indicatee they've attracted 13 backers. Savarza was founded in 2007 with technology developed atthe . In late it moved to the five months after Austin entrepreneur Rob Neville was namedthe company’s chairmanh and CEO.
Neville previously was founder and CEO ofanotheer ATI-based company, That startup was acquired in 2000 by Houston-baseds for $100 million about a year afterr it was founded. Savara’s pulmonary — or via the lung — drug delivery product, initially develope in 2004, is based on nanotechnology and dry powderd rather thanconventional propellants. It plans to offerr its platform to drug makerss seeking alternative delivery methods and to develop itsown drugs. Last year, Savara garnerecd an undisclosed amount of financing from a syndicats of 12angel investors, most based in Neville said. During Austin-area life sciences companiezs attracted $18.
7 million in venture capital comparedwith $195.12 million in 2007, according to .
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