St. Jude Medical Inc. (NYSE:STJ) invested in a startup developing leadless pacemakers.

The St. Paul, Minn.-based cardiac device maker entered a financing deal with Nanostim Inc. through which it intends to make staged investments based on the company’s achievement of certain development and clinical milestones, according to a statement from Nanotism.

The agreement between the two companies also gives St. Jude the exclusive option to acquire the Milpitas, Calif.-based company.