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CorNova Completes Financing



2/7/2007 10:43:55 AM

BURLINGTON, Mass., Feb. 6 /PRNewswire/ -- CorNova, Inc., a privately held developer of advanced endovascular devices and catheters, reported that it completed a private financing through the sale of 950,000 shares of Series A Preferred Convertible Stock at $2.50 per share with total gross proceeds of $2,375,000.

(Logo: http://www.newscom.com/cgi-bin/prnh/20070206/CLTU213LOGO )

About CorNova, Inc.:

CorNova, Inc., founded in 2003, is focused on the development and marketing of innovative endovascular diagnostics and treatments. CorNova is a business venture with an experienced international team of business, medical, and engineering professionals within the field of interventional cardiology. CardioTech International, Inc. and Implant Sciences Corporation , each of which own 1.5 million shares of common stock of CorNova, have licensed certain technologies to CorNova. CorNova's relationship with all of its strategic partners allows us to build value and opportunity through the utilization of the vast technologies, expertise, resources of these partners, in addition to our talented internal team, to develop and sell innovative interventional devices.

CorNova believes that this press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties. Such statements are based on management's current expectations and are subject to facts that could cause results to differ materially from the forward-looking statements.

Photo: http://www.newscom.com/cgi-bin/prnh/20070206/CLTU213LOGOAP Archive: http://photoarchive.ap.orgPRN Photo Desk, photodesk@prnewswire.comCorNova, Inc.

CONTACT: Timothy Looney of CorNova, Inc., +1-781-270-0055 x115, ortlooney@cornova.com


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