WEST BRIDGEWATER, Mass., Feb. 11, 2013 /PRNewswire/ -- Pavilion Medical Innovations L.L.C. of Norwell, MA and STD Med, Inc. of Stoughton, MA are pleased to announce a joint investment to launch Saphena Medical, Inc., a new cutting edge medical device company focused on Endoscopic Vein Harvesting technologies. Its OnePass™ platform delivers single-step, minimally-invasive harvesting of veins used for coronary artery bypass grafting. The company recently raised $3 million in Series A funding to take the OnePass™ platform through regulatory clearance.
Saphena Medical, located at the STD Med Innovation Center in West Bridgewater, MA is the fifth start-up technology company for OEM STD Med, Inc. and also the fifth for Pavilion founders, who most recently sold Vortex Medical to AngioDynamics.
Pavilion founder Michael Glennon, who will serve as the President of Saphena Medical says, "This funding and our close working relationship with the experts at STD Med will enable Saphena Medical to rapidly move our game changing platform technology through all the processes required for commercialization". Andrea Patisteas, Senior Executive VP at STD Med said, "We are excited to join with Pavilion and share resources and expertise to successfully bring Saphena Medical's technology to market." "We both bring a lot to the table," said Steven Tallarida, President of STD Med. "Medical device incubators need to get their products to market faster and more cost effectively and that's how Mike Glennon's model works."
About Pavilion Medical Innovations (PMI) LLC:
PMI brings to life the inventions and ideas of physicians, scientists, engineers and entrepreneurs. From incubation to commercialization, PMI offers unsurpassed know-how to expedite medical technology development. We create products and companies from basic inventions, ideas and intellectual property that can improve patient outcomes and affect lives. Our deep understanding of the development process - from whiteboard to boardroom - enables us to accelerate the development of medical technology concepts in a capital-efficient manner that produces superb results for all.
About STD Med, Inc.:
STD Med, Inc. is a rapidly growing and emerging leader in the development and manufacture of medical devices and precision machined components. Established in 1953, STD Med, Inc. is a privately held company with 3 facilities in Massachusetts which are ISO 13485:2003, ISO 9001:2008, JPAL and FDA approved. Over the past several years STD Med, Inc. has incubated and invested in several new technologies including Angiolink Corporation (acquired by Medtronic), Arthrosurface Inc., Spirus Medical, Inc.(acquired by Olympus) and Cardiosolutions, Inc. and it is our intention to continue to pursue disruptive innovation in the medical device marketplace.
SOURCE Saphena Medical, Inc.