Wednesday, December 16, 2009

Savara Gets $1.4M

Austin-based Savara, a developer of drug delivery technology, said today that it has closed a second tranche of Series A financing. The firm said it exceeded the targeted total raise amount of $1.4M. Source of the new funding was not disclosed. Savara is developing inhalation drug delivery technology, targeted at improving the effectiveness of both existing and new drugs by delivering smaller, aerosol-like particles in the 1-3 micron range. Savara said the funding will go towards continued development of its technology. More information »