Cleveland, Ohio-based Indago has successfully closed a $10 million financing round. In conjunction with the financing, the medical device company also announced that it has changed its name to Lazurite Holdings and added Michael Salerno to its board of directors.
Founded in 2015, Lazurite is focused on developing light and camera technologies for the operating room. Just a year after its founding, the company created its wireless surgical camera system prototype, ArthroFree™.
OTW spoke with Lazurite CEO and Co-Founder Eugene Malinskiy about ArthroFree. Malinskiy told OTW, “ArthroFree, is expected to be the first wireless surgical camera system to receive FDA approval for use in minimally invasive surgery.”
Malinskiy continued, “Today, the state-of-the-art surgical cameras used in endoscopic surgeries require long and cumbersome light and power cables. ArthroFree is designed to replace current surgical cameras while being drop-in compatible with current operating room equipment.”
According to the company, Lazurite will use the funds to complete pre-submission testing of ArthroFree and submit the device for FDA clearance. The company will also use the funds to continue to develop its intellectual property portfolio. Pending FDA approval, Lazurite anticipates that it will be able to launch ArthroFree in 2022.
In the press release, Malinskiy also discussed the company’s name change. Malinskiy stated, “Our novel and patented Meridiem™ light engine technology is one of our core assets. It is the basis for our ArthroFree wireless arthroscopic camera system as well as a number of other products in our pipeline.”
Malinskiy continued, “When people see or hear the name Lazurite™—which references the color of the light emitted from the laser diode in our low-heat, high power light engine technology—we would like them to think of us as the medical device and innovations company known for its transformative surgical wireless platform, laser-based lighting and other advanced technologies.”
