Business
Vivani Medical Announces Filing of Form 10 Registration Statement for Planned Spin-Off of Cortigent Neurostimulation Business to Vivani Shareholders
Transaction is anticipated to be completed in third quarter 2025 Planned Cortigent Nasdaq listing intended to drive value for Vivani and Cortigent stockholders Cortigent is developing the Orion® Visual Cortical Prosthesis System to provide meaningful visual perception to people who are blind Cortigent is developing the Stroke Recovery System to improve the recovery of arm and hand movement in people who have suffered paralysis due to stroke Spin-off will allow Vivani to focus on its continued de
About this update from Vivani Medical, Inc.
[{"type":"image","alt":"Vivani Medical, Inc.","displaySize":"","headline":null,"caption":"Vivani Medical, Inc.","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":300,"url":"https://media.zenfs.com/en/globenewswire.com/c23870f4ae46a8fd33cfe7a0a48ef637"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/aU1HV9H8XgPgL8OdypT.mA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTQyMDtjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/c23870f4ae46a8fd33cfe7a0a48ef637","width":300,"height":300}},"lazy":false},{"type":"text","content":"Transaction is anticipated to be completed in third quarter 2025","length":64,"tagName":"p"},{"type":"text","content":"Planned Cortigent Nasdaq listing intended to drive value for Vivani and Cortigent stockholders","length":94,"tagName":"p"},{"type":"text","content":"Cortigent is developing the Orion® Visual Cortical Prosthesis System to provide meaningful visual perception to people who are blind","length":132,"tagName":"p"},{"type":"text","content":"Cortigent is developing the Stroke Recovery System to improve the recovery of arm and hand movement in people who have suffered paralysis due to stroke","length":151,"tagName":"p"},{"type":"text","content":"Spin-off will allow Vivani to focus on its continued development of miniature, ultra long-acting GLP-1 implants for chronic weight management and type 2 diabetes with annual or bi-annual dosing ","length":193,"tagName":"p"},{"type":"text","content":"ALAMEDA, Calif., May 29, 2025 (GLOBE NEWSWIRE) -- Vivani Medical, Inc. (NASDAQ: VANI) (“Vivani” or the “Company”), a clinical-stage biopharmaceutical company developing miniature, ultra long-acting drug implants, today announced that Cortigent, Inc. (“Cortigent”), a wholly owned subsidiary of the Company that develops brain implant devices to help patients recover critical body functions, has filed a Form 10 registration statement with the U.S. Securities and Exchange Commission (“SEC”) to spin off Cortigent as an independent, publicly traded Nasdaq company in third quarter 2025. The strategic goal of this transaction is to create two focused companies dedicated to driving current and future value in their respective therapeutic areas of expertise.","length":758,"tagName":"p"},{"type":"text","content":"“Filing the Form 10 registration statement is an important milestone in our journey to establish Cortigent as a...