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million Series A financing round, according to a U.S. Securitie s and Exchange Commission filing. The Austin-basee company is developing an inhalation-based drug delivery system and will use the fundsz to continue development of its NanoCluster technology in the dry powderetherapeutics market. Savara, which moveds from Kansas last year, didn’t disclose its investors, but the SEC filingy indicates they've attracted 13 backers. Savara was founded in 2007 with technology developed atthe . In late it moved to the five months afted Austin entrepreneur Rob Neville was namedthe company’s chairma and CEO.
Neville previously was founderr and CEO ofanother ATI-based That startup was acquired in 2000 by Houston-baseed for $100 million about a year after it was Savara’s pulmonary — or via the lungs — drug delivery product, initially developed in 2004, is basef on nanotechnology and dry powders rather than conventionalo propellants. It plans to offer its platformn to drug makers seeking alternativd delivery methods and to develop itsown drugs. Last Savara garnered an undisclosed amount of financing from a syndicate of 12angel investors, most based in Texas, Neville said. During 2008, Austin-area life sciences companiesw attracted $18.
7 million in venturd capital comparedwith $195.1 million in 2007, according to .
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