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Vivani Medical Announces Filing of Form 10 Registration Statement for Planned Spin-Off of Cortigent Neurostimulation Business to Vivani Shareholders
Globenewswire· 2025-05-29 12:30
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]
Inspire Medical Systems, Inc. to Present at the BofA Securities 2025 Health Care Conference
Globenewswire· 2025-04-29 12:00
Core Insights - Inspire Medical Systems, Inc. is a medical technology company specializing in minimally invasive solutions for obstructive sleep apnea [3] - The company will present at the BofA Securities 2025 Health Care Conference on May 13, 2025, at 2:20 p.m. Eastern Time [2] - Inspire's proprietary therapy is the first and only FDA, EU MDR, and PDMA-approved neurostimulation technology for treating moderate to severe obstructive sleep apnea [3] Company Information - Inspire focuses on the development and commercialization of innovative solutions for obstructive sleep apnea [3] - The company’s Inspire therapy is recognized for its safety and effectiveness in treating the condition [3] - Additional information about Inspire can be found on their official website [3]