InterValve, a medical device company in Minnetonka, Minnesota, is looking to close its series A round of funding soon in order to advance its proprietary aortic valvuloplasty balloon to clinical trials later this year.CEO Mark Ungs said the company hopes to begin testing its transcatheter aortic valve device in humans this year and submit it [...]

Biolyst LLC is seeking $1.25 million from the sale of equity and warrants, according to documents filed with the Securities and Exchange Commission.

After surveying the chaos otherwise known as Fall elections, I can confidently conclude one thing: I don’t think Democrat gubernatorial candidate Mark Dayton is scoring a lot of votes from the business community, especially the important lifescience industry. So that leaves GOP nominee Tom Emmer and Independence Party favorite Tom Horner vying for lifescience votes.

It’s been a tough slog for early stage capital, lately. Affinity Capital Management and Triathlon Medical Ventures have suspended efforts to raise a $10 million seed fund in Minnesota. And the $1 billion fund biotech investor Steve Burill promised to raise for the Elk Run BioBusiness Park two years ago has yet to materialize. But there is some good news: the Minnesota Department of Employment and Economic Development has awarded $573,000 in tax credits during the first full month of the state’s shiny new angel investment tax program.

Forget “One Life to Live” or “As the World Turns.” If you want a real soap opera, look no farther than the University of Minnesota. One week after MedCity News first reported that University Enterprise Laboratories (UEL) and the school’s medical device fellowship program were close to a deal to establish MDC Launch Pad, an incubator for companies created by the fellows, the university’s top technology transfer official is opposing the project.

Minnesota’s angel tax credit program debuted last week, which means you can now regularly check who made the cut.Go to the state Department of Employment and Economic Development’s (DEED) angel website, scroll down to the bottom of page and click on the links under “Lists of Certified Businesses, Investors and Funds.”Investors (individuals or those belonging [...]

One of the more intriguing races in Minnesota this fall concerns state District 40B in Bloomington, outside of the Twin Cities. There, Republican newbie Sanu Patel-Zellinger is challenging longtime Democrat incumbent Rep. Ann Lenczewski.Patel-Zellinger is unlikely to unseat Lenczewski- you don’t get re-elected five straight times without knowing what you’re doing. But Patel-Zellinger’s campaign could [...]

Come August 1, Minnesota’s shiny, new $60 million angel tax credit will be open for business. Now if only Wall Street cooperated.Fueled by fears of an European debt meltdown, the Dow Jones Industrial Average Tuesday dropped more than 250 points to below 10,000 before recovering to close at 10,043. The index is down more than [...]

Battle-weary proponents of Minnesota’s historic $60 million angel tax credit had a simple message for the state’s entrepreneurial community:Now that we passed the darn thing, you better use it!“We’ve passed the baton onto you,” Sen. Kathy Saltzman (D-Woodbury) told the audience who gathered in Eden Prairie Monday to learn about the tax credit.var page_count = [...]

The Minnesota House and Senate Monday overwhelmingly approved a five-year, $50 million tax credit designed to spur early-stage investment in high tech start-ups, including biotechnology and medical devices.Minutes after the House passed a jobs bill, which included the angel credits, 112-20, the Senate followed suit, 58-3. The lopsided vote capped an epic, seven-year struggle to [...]