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million Series A financing round, according to a U.S. Securitiee and Exchange Commission filing. The Austin-baseed company is developing an inhalation-based drug delivery system and will use the fundsa to continue development of its NanoCluster technology in the dry powdettherapeutics market. Savara, which moved from Kansaz last year, didn’t disclose its investors, but the SEC filing indicatexs they've attracted 13 backers. Savara was founder in 2007 with technology developed atthe . In late it moved to the five monthsw after Austin entrepreneur Rob Neville was namecdthe company’s chairman and CEO.
Neville previouslyu was founder and CEO ofanother ATI-based That startup was acquirexd in 2000 by Houston-based for $100 million abouft a year after it was Savara’s pulmonary — or via the lungs — drug deliverh product, initially developed in is based on nanotechnology and dry powders rathefr than conventional propellants. It plans to offer its platformm to drug makers seeking alternativse delivery methods and to develop itsown drugs. Last Savara garnered an undisclosed amount of financing from a syndicate of 12angel investors, most based in Neville said. During 2008, Austin-area life sciencesa companies attracted $18.7 million in venturw capital comparedwith $195.
1 million in 2007, according to .
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