Core Insights - Vivani Medical, Inc. is spinning off its wholly-owned subsidiary Cortigent, which specializes in brain implant devices utilizing precision neurostimulation technology [1][3] - Cortigent has completed a 6-year Early Feasibility Study for its Orion® artificial vision system aimed at treating blindness [1][3] - The spin-off is expected to enhance strategic and operational flexibility for both Vivani and Cortigent, allowing each to focus on their respective business strategies [3][5] Company Overview - Cortigent is the only company with FDA approval for a device providing artificial vision for the profoundly blind [1] - The Orion® Visual Cortical Prosthesis System is designed to treat blindness from common conditions like glaucoma and diabetic retinopathy, and has received FDA Breakthrough Device designation [7] - Cortigent is also developing a medical device to improve arm and hand motion recovery in stroke patients [1][7] Spin-off Details - The record date for Vivani shareholders to receive common stock in Cortigent is set for October 8, 2025 [2] - Cortigent is expected to trade on the Nasdaq under the ticker symbol "CRGT" [2] - The spin-off is anticipated to be completed by late 2025, subject to regulatory approvals and other conditions [5] Management and Future Plans - Jonathan Adams, MBA, will continue as CEO of Cortigent post-spin-off [4] - The spin-off aims to position Cortigent among a select group of public companies focused on neuromodulation and brain-computer interface technologies [3][4] - Cortigent plans to advance its Orion pivotal clinical trial to seek FDA approval and conduct an Early Feasibility Study for its Stroke Recovery System [3]