J&J MedTech buys medical device firm Laminar for $400m
01 Dec 2023
Acquisition
Laminar's rotational motion device is designed to eliminate the left atrial appendage by rotational motion in contrast to the catheter-based procedure devices that utilise plugs to occlude it
J&J MedTech has acquired Laminar. (Credit: Rock Staar on Unsplash)
Johnson & Johnson (J&J) MedTech has acquired Laminar, a medical device firm focused on the removal of the left atrial appendage (LAA) in patients with non-valvular atrial fibrillation (AFib), for an upfront payment of $400m.
The deal, subject to customary adjustments, includes further potential clinical, regulatory milestone payments in 2024 and beyond.
Laminar was healthcare and life sciences investment firm Santé Ventures’ Fund 3 portfolio company.
It will join J&J MedTech’s cardiac arrhythmia treatment and diagnosis company, Biosense Webster.
Laminar president and CEO Randy Lashinski said: “For the millions of people living with AFib, stroke risk is a major concern. The team at Laminar is driven by our vision to develop and deliver an innovative solution to help patients live without the fear of stroke, or the need for long-term use of blood thinners.
“We are looking forward to advancing this vision as part of Johnson & Johnson MedTech.”
Laminar’s rotational motion device is designed to eliminate the LAA by rotational motion in contrast to the catheter-based procedure devices that utilise plugs to occlude it.
The US Food and Drug Administration (FDA) has granted approval to Laminar’s study of its investigational device in the US, with enrolment set to start in early 2024.
Santé Ventures led the company’s initial financing in 2019 as part of its Series A fundraising and was its only institutional investor through all subsequent investment rounds.
Biosense Webster president Jasmina Brooks said: “Laminar’s innovative approach will provide Biosense Webster the opportunity to expand our portfolio in this high growth market, complement our electrophysiology and Intracardiac Echo strengths, and deepen our presence with interventional cardiologists and electrophysiologists.
“Fuelled by the global scale and commercial and clinical strength of Biosense Webster, we are excited to explore the possibilities ahead to reach even more patients with critical unmet need.”
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