{"id":10734,"date":"2021-06-25T05:13:00","date_gmt":"2021-06-25T05:13:00","guid":{"rendered":"https:\/\/g-medtech.com\/news\/?p=10734"},"modified":"2025-08-20T03:54:06","modified_gmt":"2025-08-20T03:54:06","slug":"indago-completes-10-million-financing-and-renamed-to-lazurite","status":"publish","type":"post","link":"https:\/\/g-medtech.com\/news\/indago-completes-10-million-financing-and-renamed-to-lazurite\/","title":{"rendered":"Indago Completes $10 Million Financing and Renamed to Lazurite"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Indago announces the successful close of its $10 million convertible note round of financing. The funds will be used to complete pre-submission testing of the ArthroFree\u2122 \u2013 the company\u2019s transformative wireless camera system &#8212; and to submit the device for FDA clearance, as well as continuing to develop a diverse pipeline of additional products and expand the company\u2019s intellectual property portfolio. The company plans to submit its 510(k) premarket notification in late 2021 and expects to receive FDA approval to launch the product in the first half of 2022.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The company also announced that it is changing its name to <a href=\"https:\/\/g-medtech.com\/database\/medtech-players\/index\/lazurite\/\" target=\"_blank\" rel=\"noreferrer noopener\">Lazurite Holdings<\/a>, effective immediately.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cWe are excited to have closed the financing round and look forward to using the funds to help move ArthroFree through the FDA and continuing the development of our suite of follow-on products,\u201d said Eugene Malinskiy, Chief Executive Officer and founder. \u201cWith the close of the financing round, we also are excited to announce the company\u2019s new name and to welcome Michael Salerno to our Board. Michael\u2019s depth of knowledge and experience in capital raising in the health care company space will be invaluable to us as we continue to grow Lazurite and expand our product base.\u201d<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large\"><img decoding=\"async\" width=\"800\" height=\"445\" data-src=\"https:\/\/g-medtech.com\/news\/wp-content\/uploads\/2021\/06\/20210625a.jpg\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/yH5BAEAAAAALAAAAAABAAEAAAIBRAA7\" alt=\"\" class=\"wp-image-10735 lazyload\"\/><noscript><img decoding=\"async\" width=\"800\" height=\"445\" src=\"https:\/\/g-medtech.com\/news\/wp-content\/uploads\/2021\/06\/20210625a.jpg\" alt=\"\" class=\"wp-image-10735\" srcset=\"https:\/\/g-medtech.com\/news\/wp-content\/uploads\/2021\/06\/20210625a.jpg 800w, https:\/\/g-medtech.com\/news\/wp-content\/uploads\/2021\/06\/20210625a-300x167.jpg 300w, https:\/\/g-medtech.com\/news\/wp-content\/uploads\/2021\/06\/20210625a-768x427.jpg 768w, https:\/\/g-medtech.com\/news\/wp-content\/uploads\/2021\/06\/20210625a-600x334.jpg 600w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/noscript><figcaption class=\"wp-element-caption\">Eugene Malinskiy, Chief Executive Officer and founder of Lazurite Holdings<\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">He continued, \u201cOur novel and patented Meridiem\u2122 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. When people see or hear the name Lazurite\u2122 &#8212; which references the color of the light emitted from the laser diode in our low-heat, high power light engine technology \u2013 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.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Salerno is a co-founder of AUA Capital Management and is formerly the managing director of QFS Asset Management, a premier global alternative asset manager specializing in quantitative investment strategies. He also is a former general partner of Select Capital Ventures, a fund focused on providing growth capital to health care-oriented companies. AUA Capital Management is the lead investor in the latest round of financing.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cI am delighted to join both the Board of Managers of Lazurite and the group of investors backing the company,\u201d Salerno said. \u201cI have been impressed to see how excited physicians are about ArthroFree and am impressed that more than 50 physicians are invested in Lazurite.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Mark Froimson, MD, Chair of the Board of Managers of Lazurite, said, \u201cWe are very pleased to have completed another successful capital raise and to welcome Michael Salerno to our Board. His experience leading a venture cap fund focused on health care-oriented companies will be particularly valuable. We are looking forward to showcasing our products and the upcoming FDA submission.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The funds will be used to complete pre-submission testing of the ArthroFree\u2122 \u2013 the company\u2019s transformative wireless camera system &#8212; and to submit the device for FDA clearance<\/p>\n","protected":false},"author":2,"featured_media":10738,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","footnotes":""},"categories":[10],"tags":[594],"class_list":["post-10734","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-strategic-development","tag-financing"],"_links":{"self":[{"href":"https:\/\/g-medtech.com\/news\/wp-json\/wp\/v2\/posts\/10734","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/g-medtech.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/g-medtech.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/g-medtech.com\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/g-medtech.com\/news\/wp-json\/wp\/v2\/comments?post=10734"}],"version-history":[{"count":5,"href":"https:\/\/g-medtech.com\/news\/wp-json\/wp\/v2\/posts\/10734\/revisions"}],"predecessor-version":[{"id":34690,"href":"https:\/\/g-medtech.com\/news\/wp-json\/wp\/v2\/posts\/10734\/revisions\/34690"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/g-medtech.com\/news\/wp-json\/wp\/v2\/media\/10738"}],"wp:attachment":[{"href":"https:\/\/g-medtech.com\/news\/wp-json\/wp\/v2\/media?parent=10734"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/g-medtech.com\/news\/wp-json\/wp\/v2\/categories?post=10734"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/g-medtech.com\/news\/wp-json\/wp\/v2\/tags?post=10734"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}