Minneapolis-based InterValve Inc. has raised $2.6 million of a $3.5 million financing round, according to company regulatory filings.
The report didn’t offer many details of the fundraising, but noted 23 buyers in a round expected to last less than a year.
The funding round, comprised of sales of debt and options, warrants or other rights to acquire securities, began late last month.
"Proceeds are for working capital," according to the report. "The number above excludes use of proceeds for normal salary and bonus to executive officers."
The early-stage company earlier this year won FDA clearance for its V8 aortic valvuloplasty balloon catheter, indicated for stand-alone balloon aortic valvuloplasty as well as for pre-dilation during transcatheter aortic valve implantation procedures.
The company indicated in the filing that its revenues are in the range of $1-$1 million.