Does 1 Timothy 2:5 debunk intercession of the saints?

1 Timothy 2:5 says: > For there is one God, and one mediator between God and men, the man > Christ Jesus; Does this mean that intercessions of the saints is not possible since Jesus Christ is the only meditator? I know Protestants cosnistently point to this verse to prove that intercession of the saints is biblical, but i want to know if this is true or not.