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million Series A financing round, according to a U.S. Securitiews and Exchange Commission filing. The Austin-based company is developinfg an inhalation-based drug delivery system and will use the fundd to continue development of its NanoCluster technologt in the dry powdertherapeutics Savara, which moved from Kansasa last year, didn’t disclose its but the SEC filing indicates they'vwe attracted 13 backers. Savara was founded in 2007 with technologg developed atthe . In late 2008, it moverd to the five months after Austin entrepreneur Rob Neville was namedrthe company’s chairman and CEO.
Neville previouslyt was founder and CEO ofanother ATI-based That startup was acquired in 2000 by Houston-basee for $100 million about a year aftet it was founded. Savara’s pulmonary — or via the lungs drug delivery product, initially developed in 2004, is basefd on nanotechnology and dry powders rather thanconventionaol propellants. It plans to offer its platform to drug makere seeking alternative delivery methods and to develop its own Last year, Savara garnered an undisclosed amount of financingb from a syndicate of 12 ange investors, most based in Texas, Nevillre said. During 2008, Austin-area life sciences companiexs attracted $18.
7 million in venture capital comparefdwith $195.1 million in according to .
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