InterValve, Inc., a privately held, medical device company developing a next generation aortic valvuloplasty balloon announced today the completion of a Series A financing.
 

A strategic investor led the $4.7 million round of financing joined by prominent local Minneapolis businessmen. The round includes the conversion of $680,000 of convertible notes.
 

"The Company is developing a proprietary aortic valvuloplasty balloon for the most exciting new market in cardiac device procedures. The capital raised will allow InterValve to advance its device into human evaluation," stated Mark Ungs, CEO of InterValve.
 

The Company also announced the appointment of Dr. Glen Nelson and Mr. Michael Berman to serve on the Company's Board of Directors.
 

"We are extremely excited and honored to welcome Glen and Mike to the Company's Board," stated Dr. Robert Van Tassel InterValve co-founder and member of the Board of Directors. "These two individuals combined bring over fifty years of medical device experience. Their operational expertise and industry relationships will be a tremendous asset for us," said Dr. Van Tassel.
 

Dr. Glen Nelson, is chairman of GDN Holdings, LLC (Aviation, Medical Products and Services).  Prior to GDN Holdings, he was a director of Medtronic Inc. from 1980-2002 and was employed as Executive Vice President from 1986-1988 and subsequently Vice Chairman from 1988-2002; practiced surgery from 1969-1986 at Park Nicollet; was chairman, president and chief executive officer of the Park Nicollet Medical Center, a large multi-specialty group practice in Minneapolis from 1975-1986; also chairman of the board and chief executive officer of American MedCenters, Inc., from 1984-1986.  Dr. Nelson is an Emeritus Clinical Professor of Surgery at the University of Minnesota.
 

Mr. Michael Berman is a medical device investor/entrepreneur who has co-founded 7 Medical Device companies and currently serves on the boards of 11 emerging medical device companies. From 1995-2000 Mr. Berman was the President of the Cardiology business of Boston Scientific.
 

Dr. Robert Van Tassel is a retired board certified cardiologist and served as a Senior Consultant in Cardiology at the Minneapolis Heart Institute at Abbott Northwestern Hospital in Minneapolis and a Clinical Professor of Medicine at the University of Minnesota. He is a founder of the Minneapolis Heart Institute and past President of the Minneapolis Heart Institute Foundation. Dr Van Tassel currently serves on the board of directors of the Minneapolis Heart Institute Foundation and is on the board of directors of numerous emerging medical device companies. He is a Principal in TriCardia Ventures and has been a founder of three medical device companies that have been successfully acquired.