Vivani Medical, a clinical-stage biopharmaceutical company, sets record date for the approved spin-off of Cortigent, its subsidiary focused on neuromodulation technology.
Cortigent, a leading developer of brain implant devices, has obtained FDA approval for an artificial vision device for the blind.
Cortigent's new Orion® artificial vision system aims to treat common causes of blindness and has completed a successful 6-year Early Feasibility Study.
Strategic Spin-off
The spin-off aims to create two companies dedicated to driving value in their respective areas of expertise: Vivani focusing on GLP-1 implants for diabetes and weight loss, and Cortigent specializing in brain implant devices with cutting-edge technology.
Shareholder Involvement
Vivani shareholders as of the record date, October 8, 2025, will receive common stock in Cortigent, allowing direct participation in Cortigent's future developments.
Market Expansion
Cortigent's spin-off is set to position the company as a pioneer in neuromodulation technologies, focusing on brain-computer interface advancements to address critical patient needs.
Operational Benefits
The spin-off offers enhanced strategic flexibility, optimal capital structure adoption, and incentivized management for both Vivani and Cortigent post-separation.
- The spin-off enables Vivani and Cortigent to focus solely on their core businesses, driving growth and value creation in their respective specialties.
- Investors will have the opportunity to directly invest in Cortigent's innovative brain implant devices and precision neurostimulation technology platform.
The spin-off of Cortigent signifies a strategic move by Vivani Medical to nurture two specialized entities, promoting growth and innovation in the fields of biopharmaceuticals and neuromodulation technology.