March 24, 2018 6:31 AM ET

Healthcare Equipment and Supplies

Company Overview of Saphena Medical, Inc.

Company Overview

Saphena Medical, Inc., a medical device company, develops Endoscopic Vein Harvesting technologies. The company was founded in 2013 and is based in West Bridgewater, Massachusetts.

West Bridgewater, MA 

United States

Founded in 2013

Key Executives for Saphena Medical, Inc.

Age: 51
Director and President of Std Med
Age: 54
Compensation as of Fiscal Year 2017.

Saphena Medical, Inc. Key Developments

Maquet Cardiovascular, LLC Expands Patent Infringement Lawsuit against Saphena Medical, Inc. and Dr. Albert Chin

Maquet Cardiovascular, LLC filed an amended complaint against Saphena Medical, Inc. and Dr. Albert Chin on February 6, 2017. Maquet's amended complaint expands its patent infringement lawsuit, originally filed on December 16, 2016 in the United States District Court for the Northern District of California, by adding two claims relating to specific actions taken by Dr. Albert Chin and Saphena Medical, Inc. The amended complaint addresses Dr. Chin's improper application for, and, as a result, Saphena improperly being assigned, U.S. Patent No. 9,119,900, covering an invention that originated with Maquet. Maquet's amended complaint alleges that, while employed by Maquet, Dr. Chin had access to confidential work done by other Maquet employees on endoscopic vessel harvesting devices and techniques. The amended complaint further alleges that after leaving Maquet, Dr. Chin filed a patent application on one such confidential endoscopic vein harvesting prototype. As a result, Maquet asserts that inventorship should be corrected and the patent should be assigned to Maquet. In addition, the amended complaint accuses Saphena of false advertising in marketing its Venapax System, including Saphena's false and misleading comparisons of the Venapax System to Maquet's endoscopic vein harvesting solutions. Among these statements are Saphena's depictions of how bipolar RF energy — energy used to heat and coagulate tissue — is used in the Venapax System as compared to Maquet's endoscopic vein harvesting devices. Additionally, as the amended complaint asserts, although Saphena has sponsored speakers who state that Saphena's device does not result in charring of tissue, videos of the Saphena Venapax System show it produces charring, as well as blanching, of veins. The amended complaint seeks an injunction, Saphena's profits, and costs of suit to remedy the alleged false advertising.

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Recent Private Companies Transactions

Private Placement
May 17, 2017

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