The agreement also gives St Jude Medical the exclusive option to acquire the company.
Nanostim’s leadless pacemakers are implanted via a percutaneous, catheter-based procedure.
The devices are placed directly into the heart and are designed without the requirement for a lead or surgical pocket.
They are also inherently MRI-compatible.
Nanostim CEO Drew Hoffmann said their leadless pacemakers are designed to be less invasive, safer devices that will simplify the implantation procedure and can improve the lives of patients.
"These catheter-based devices also have the potential to drive increased market penetration in developing markets because of the greater number of trained interventional cardiologists than device implanters. This technology represents a solution for an unmet need in the Cardiac Rhythm Management (CRM) category," Hoffmann said.
"As we move forward with the completion of our next set of milestones, we are excited to have the support of St. Jude Medical, a proven global leader in the care of CRM patients, with the capabilities and expertise to help us expand into existing and new markets."
