Saphena Medical raises $3m

Saphena Medical said raised $2.7 million in a new round of equity financing, according to an SEC filing posted today.

The company offered Series C preferred stock during the round, according to the SEC filing, with the 1st sale recorded on May 17.

A total of 38 unnamed investors have joined the round, with Saphena looking to raise an additional $800,376 before closing it, according to the SEC filing.

In February, Saphena and Dr. Albert Chin filed counterclaims against Getinge‘s (PINK:GETI B) medical subsidiary Maquet Cardiovascular in response to a suit alleging patent infringement and breaches of contract.

The counterclaim, filed on Feb. 22, is in response to an ongoing spat between the companies related to patents and intellectual property pertaining to endoscopic vessel harvesting devices, specifically Saphena’s Venapax system.

The post Saphena Medical raises $3m appeared first on MassDevice.

from MassDevice http://ift.tt/2qBu8YS