Lazzaro Medical Receives $1M from Northwell Health

Lazzaro Medical, a Boulder, CO-based medical device company, received a $1M in strategic investment.

Northwell Health made the investment.

The company intends to use the funds to prepare its 510K FDA submission and support its forthcoming commercial launch.

Founded by Dr. Richard Lazzaro and  Rob Israel, Lazzaro Medical is a medical device company on a mission to restore healthy breathing in millions of people suffering from tracheal and bronchial maladies with a platform of non-invasive, robotic procedures, devices, and diagnostics. The company intends to help people breathe easily again by bringing awareness to TBM as a largely under or misdiagnosed disease and offer a less invasive and risky repair option to those suffering from this degenerative condition that causes the collapse of the airway due to the softening of cartilage in the trachea.

With Northwell’s strategic investment, Lazzaro Medical has raised a total of $2 million from investors, including a $250,000 grant from the Global Business Development division of the Colorado Office of Economic Development and International Trade (OEDIT) Advanced Industries Accelerator Grant Program. Bolstering Lazzaro Medical’s remaining $3.5 million convertible note offering is an investment commitment from another strategic partner. These strategic partner investments help further validate Lazzaro Medical’s mission of helping people breathe better again. Subsequent rounds will support the company’s platform expansion, which includes a diagnostic endoscope, comprehensive training programs for thoracic surgeons and additional devices to further simplify the procedure.

FinSMEs

31/10/2022