EXCLUSIVE: Vivani Medical To Spin Off Cortigent Neurostimulation Business To Create Better Focus On Individual Entities And Shareholder Value

Core Viewpoint - Vivani Medical, Inc. plans to spin off Cortigent, Inc., a division focused on brain implant devices, into an independent publicly-traded company to enhance shareholder value [1][3]. Company Developments - The spin-off will enable Vivani to concentrate on developing GLP-1 implants for chronic weight management and type 2 diabetes, while Cortigent will focus on precision neurostimulation technology for artificial vision [4]. - Jonathan Adams will continue as CEO of Cortigent post-spin-off [4]. Industry Insights - There is a growing interest in neurostimulation technology, influenced by companies like Neuralink, with the global neurostimulation market expanding due to the rise in chronic diseases and technological advancements [2]. - Cortigent's Orion Cortical Visual Prosthesis System has received FDA Breakthrough Device designation and aims to treat blindness from various conditions [6][7]. - The spin-off is expected to be completed by Q3 2025 [7].