Santé Ventures was the sole venture capital investor in Laminar, which aims to treat persistent atrial fibrillation (AFib) with an innovative solution for the left atrial appendage (LAA)
AUSTIN, Texas, Nov. 30, 2023 /PRNewswire/ — Santé Ventures (Santé), an early-stage healthcare and life sciences investment firm, has announced the acquisition of its Fund III portfolio company, Laminar, Inc., by Johnson & Johnson Medtech. The purchase was completed with an upfront payment of $400 million and additional clinical and regulatory milestone payments expected in 2024 and beyond. As Laminar’s sole venture capital investor, Santé played an essential role in helping develop the company’s novel approach to eliminating the left atrial appendage (LAA) in patients with non-valvular AFib. Laminar will join Johnson & Johnson MedTech as part of Biosense Webster, Inc. – a global leader in cardiac arrhythmia treatment.
More than 38 million people worldwide currently live with AFib, a condition that causes an irregular and often very rapid heart rhythm, making them five times more likely to suffer from a stroke. A key driver of this is the LAA (left atrial appendage) – a small pouch in the left atrium of the heart, where blood can stagnate and form clots that enter the bloodstream. Laminar pioneered a rotational motion device to address this issue by eliminating the LAA. The company was recently granted FDA approval for a U.S. pivotal study, which will begin in 2024.
“Santé invests to help catalyze companies creating innovative life-saving solutions which can deliver better health outcomes for people while also reducing the financial burden of care. Laminar’s CEO Randy Lashinski and the team developed an elegant solution with this LAA closure device. Our investment partnership is proud to have worked with them again in this company,” noted Kevin Lalande, Founding Managing Director & Chief Investment Officer of Santé. “With so many patients suffering from AFib, we are excited to see Johnson & Johnson advance the development of this LAA treatment and expand the company’s existing footprint.”
Santé led the initial financing for Laminar in 2019 as part of the company’s Series A fundraising and remained the only institutional investor in the company through subsequent investment rounds up to the time of its acquisition by Johnson & Johnson MedTech.