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Johnson & Johnson MedTech Acquires Laminar, Inc.
Innovative investigational device designed for Left Atrial Appendage Elimination (LAAX) to reduce the risk of stroke in patients with non-valvular atrial fibrillation
Innovative investigational device designed for Left Atrial Appendage Elimination (LAAX) to reduce the risk of stroke in patients with non-valvular atrial fibrillation
NEW BRUNSWICK, N.J.--Johnson & Johnson MedTech1 announced the completion of the acquisition2 of Laminar, Inc., a privately-held medical device company focused on eliminating the left atrial appendage (LAA) in patients with non-valvular atrial fibrillation (AFib). Johnson & Johnson MedTech acquired Laminar for an upfront payment of $400 million, subject to customary adjustments, with additional potential clinical and regulatory milestone payments in 2024 and beyond. Laminar joins Johnson & Johnson MedTech as part of Biosense Webster, Inc.
Today, approximately 38 million patients around the world are living with AFib, which causes them to be more than five times as likely to have a stroke3. The LAA is a small pouch in the left atrium of the heart and can be a source of clots that can enter the blood stream, potentially causing a stroke. The LAA is a major contributor to thromboembolic stroke in patients with non-valvular atrial fibrillation.
Unlike current commercial catheter-based procedure devices that use plugs to occlude the LAA, Laminar's novel approach uses rotational motion to eliminate the LAA. Laminar recently received FDA approval for the U.S. pivotal study, which will begin enrollment in early 2024.
LAA closure is an FDA-approved therapy for reducing the risk of thromboembolism in atrial fibrillation patients who are recommended for chronic oral anticoagulation therapy but have an appropriate rationale to seek a non-pharmacologic alternative to chronic oral anticoagulants4. This is particularly important for the nearly 40% of AFib patients who cannot tolerate long-term blood thinners5,6.
“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,” said Randy Lashinski, President & CEO, Laminar. “We are looking forward to advancing this vision as part of Johnson & Johnson MedTech.”
“We are excited to welcome Laminar to Johnson & Johnson MedTech,” said Jasmina Brooks, President, Biosense Webster. “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. Fueled 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.”
As a result of the acquisition of Laminar, Inc., Johnson & Johnson will be adjusting its expected Adjusted EPS for fiscal year 2023. The asset acquisition will require an in-process research and development charge which will reduce operational and reported Adjusted EPS by approximately $0.17 from guidance previously issued. The new expected operational and reported Adjusted EPS ranges for 2023 are now $9.85 to $9.91 and $9.90 to $9.96, respectively. Additionally, the asset acquisition is expected to have an approximate negative $0.15 EPS impact in fiscal year 2024.
About Johnson & Johnson MedTech
At Johnson & Johnson MedTech, we unleash diverse healthcare expertise, purposeful technology, and a passion for people to transform the future of medical intervention and empower everyone to live their best life possible. For more than a century, we have driven breakthrough scientific innovation to address unmet needs and reimagine health. In surgery, orthopaedics, vision, and interventional solutions, we continue to help save lives and create a future where healthcare solutions are smarter, less invasive, and more personalized. For more information, visit https://thenext.jnjmedtech.com/.
About Biosense Webster
Biosense Webster is the global leader in the science and technology behind the diagnosis and treatment of cardiac arrhythmias. Part of Johnson & Johnson MedTech, the specialized medical-technology company is headquartered in Irvine, California, and works across the world to advance the tools and solutions that help electrophysiologists identify, treat, and deliver care. Learn more at www.biosensewebster.com and connect on LinkedIn and Twitter.
1 Comprising the surgery, orthopaedics, vision and interventional solutions businesses within Johnson & Johnson’s MedTech segment.
2 The acquisition was made jointly by Johnson & Johnson and Ethicon, Inc.
3 Holmes, DR. et al. Seminars in Neurology, 2010; 30:528-536.
4 Wolfe Research, company reports, Society for Cardiovascular Angiography Intervention (SCAI), Europace, JAAC, and ScienceDirect
5 Marzecet al. JACC 2017: 69(20): 2478484
6 Baker, C.L., Dhamane, A.D., Mardekian, J. et al. Comparison of Drug Switching and Discontinuation Rates in Patients with Nonvalvular Atrial Fibrillation Treated with Direct Oral Anticoagulants in the United States. Adv Ther 36, 162–174 (2019). https://doi.org/10.1007/s12325-018-0840-8
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