Alameda, California-based Vivani, which develops implantable drug delivery devices, inked the deal to sell the wholly owned subsidiary, setting it up to become a wholly owned subsidiary of ClearOne upon consummation. In connection with the transaction, ClearOne agreed to raise a minimum of $10 million and a maximum of $15 million.
Once combined, ClearOne will be renamed “Cortigent Holdings, Inc.” and trade under Nasdaq ticker “CRGT.” The combined company will be majority-owned by Vivani and operate independently under the oversight of a reconstituted board of directors.
The boards of both Vivani and ClearOne unanimously approved the deal. They expect it to close in the third quarter of 2026.
This marks a potential conclusion to Vivani’s efforts to separate the Cortigent unit. In May 2025, it announced plans to spin off Cortigent. However, the company withdrew its plan in October
Vivani looks to create two focused companies dedicated to driving current and future value in their respective therapeutic areas. It aims to continue advancing its miniature GLP-1 therapeutic implants. Cortigent, meanwhile, develops the Orion visual cortical prosthesis system.
Orion is under development to deliver meaningful visual perception to blind people through advanced neurostimulation technology. The company reported positive six-year findings for the technology earlier this year.
Commentary from Vivani and Cortigent officials
Adam Mendelsohn, Vivani CEO, said:
“We are excited to announce the planned merger and financing of Cortigent, which represents the culmination of years of work to establish the neurostimulation technology acquired from Second Sight Medical Products as a separate publicly listed company. We continue to have high confidence in our subsidiary’s cutting-edge neurostimulation technology. In addition to providing meaningful funding for Cortigent to pursue development of its product portfolio, this transaction is expected to provide additional benefits, including: 1) reducing Vivani’s direct expenditures relating to Cortigent; 2) enabling our team to fully focus on advancing our portfolio of miniature, ultra long-acting drug implants; and 3) achieving Nasdaq-listing of Cortigent.”
Cortigent CEO Jonathan Adams added:
“The planned financing will enable accelerated development of our innovative technology, including the Orion artificial vision device, which completed a successful early feasibility study last year and a new device intended to speed recovery of arm and hand mobility following partial paralysis due to stroke.”
