Core Viewpoint - Vivani Medical, Inc. plans to spin off its subsidiary Cortigent, Inc. into an independent publicly traded company on Nasdaq by the third quarter of 2025, aiming to enhance value for both Vivani and Cortigent stockholders [1][3][6] Company Developments - Cortigent is developing the Orion Visual Cortical Prosthesis System to provide visual perception for the blind and a Stroke Recovery System to aid recovery of arm and hand movement post-stroke [1][8] - The Orion system has received FDA Breakthrough Device designation and completed a six-year Early Feasibility Study with promising results [2][8] - Cortigent's previous product, the Argus II, was the first FDA-authorized artificial vision device, successfully implanted in hundreds of patients [2][8] Strategic Focus - The spin-off will allow Vivani to concentrate on its proprietary NanoPortal drug implant technology, specifically for chronic weight management and type 2 diabetes [1][2][3] - Vivani's lead program includes a six-month subdermal GLP-1 implant for chronic weight management, with additional products in development for type 2 diabetes [9][11] Financial and Operational Structure - The spin-off is expected to provide clearer visibility into the financial and operational structures of both companies, enhancing understanding of their respective strategies and risks [5][10] - The transaction is subject to various conditions, including board approval and SEC and Nasdaq compliance [6] Management and Leadership - Cortigent's CEO, Jonathan Adams, has extensive experience in the biopharmaceutical field and aims to accelerate the development of Cortigent's technologies post-spin-off [2][8]

Core Insights - Vivani Medical, Inc. is developing miniature, ultra long-acting GLP-1 implants for chronic weight management and type 2 diabetes, with topline data from the LIBERATE-1 clinical trial expected in mid-2025 [1][2][3] Company Overview - Vivani Medical utilizes its proprietary NanoPortal platform to create therapeutic implants that deliver drug molecules steadily over extended periods, aiming to improve medication adherence and patient tolerance [3] - The company's lead programs include NPM-139 (semaglutide implant) and NPM-115 (exenatide implant), designed for once or twice-yearly administration for chronic weight management [3] - Vivani is also developing NPM-119, a six-month subdermal GLP-1 implant for type 2 diabetes treatment, and is considering a semaglutide implant for the same condition [3] Industry Context - Medication non-adherence affects approximately 50% of patients, contributing to over $500 billion in annual avoidable healthcare costs and 125,000 preventable deaths in the U.S. [4] - The current GLP-1 landscape includes over 50 new molecular entities in clinical development, but Vivani's differentiated portfolio of miniature, ultra long-acting GLP-1 implants is positioned as a promising therapeutic option [4]

Core Insights - Vivani Medical, Inc. is developing miniature, ultra long-acting GLP-1 implants for chronic weight management and type 2 diabetes, with topline data from the LIBERATE-1 clinical trial expected in mid-2025 [1][2][3] Company Overview - Vivani Medical utilizes its proprietary NanoPortal platform to create therapeutic implants that deliver drug molecules steadily over extended periods, aiming to improve patient adherence and tolerance [3] - The company's lead programs include NPM-139 (semaglutide implant) and NPM-115 (exenatide implant), designed for once or twice-yearly administration for chronic weight management [3] - Vivani is also developing NPM-119, a six-month subdermal GLP-1 implant for type 2 diabetes treatment, and is considering a semaglutide implant for the same condition [3] Clinical Trial Information - The LIBERATE-1 trial is a first-in-human study of the NPM-115 implant, with results anticipated in mid-2025 [2][3] - The company is actively engaging with investors and stakeholders through events such as a virtual fireside chat scheduled for April 24, 2025 [2] Industry Context - Medication non-adherence affects approximately 50% of patients, contributing to over $500 billion in annual avoidable healthcare costs and 125,000 preventable deaths in the U.S. [4] - Vivani's differentiated portfolio of GLP-1 implants aims to address the challenges of medication adherence faced by patients with obesity and type 2 diabetes [4]