Trending...
- California: Governor Newsom, Superintendent Thurmond announce over $618 million to support another 458 community schools
- $4.3 Million Patent Application Waiver Fee Granted by FDA on New Drug Application Fee for Treatment Addressing Suicidal Depression & PTSD: NRX Pharma
- xREnergy up as much as +3,094,634% on first day listed on the XRP Ledger. Ticker : $XRE
EMERYVILLE, Calif.--(BUSINESS WIRE)--Vivani Medical, Inc. (NASDAQ: VANI) (the "Company" or "Vivani"), an innovative, clinical-stage biopharmaceutical company that develops novel, long-term therapeutic implants, today announced the filing of a Registration Statement on Form S-1 with the U.S. Securities and Exchange Commission ("SEC") for the proposed initial public offering of Cortigent, Inc. ("Cortigent"). Cortigent, currently a wholly-owned subsidiary of Vivani, was formed for the purpose of advancing the business of Vivani's neuromodulation division and will continue to be controlled by Vivani following the initial public offering. Cortigent is led by its Chief Executive Officer, Jonathan Adams.
ThinkEquity is acting as sole book-running manager for the proposed initial public offering.
A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
About Cortigent, Inc.
Cortigent was formed to continue the business of Second Sight Medical Products, Inc. ("Second Sight"), a pioneer in developing targeted neurostimulation systems to help patients recover critical body functions. The company's technology combines neuroscience understanding with proprietary microelectronics, software, and data processing capabilities to provide artificial vision and potentially restore muscle movement in victims of stroke. An early feasibility clinical trial has been substantially completed to evaluate an advanced system for artificial vision called "Orion." This device has received FDA Breakthrough Device designation. Cortigent is also exploring the application of its core technology to accelerating the recovery of arm and hand function in patients who are partially paralyzed due to stroke and plans to explore additional applications of its platform in the future. For more information, please visit www.cortigent.com.
More on The Californer
About Vivani Medical, Inc.
Leveraging its proprietary NanoPortal™ platform, Vivani Medical develops biopharmaceutical implants designed to deliver drug molecules steadily over extended periods of time, with the goal of guaranteeing patients adherence to their medication. Vivani's lead program, NPM-119, is a miniature, 6-month GLP-1 implant under investigation for the treatment of patients with Type 2 diabetes. NPM-119 can provide patients the opportunity to realize the full potential benefit of their medication while avoiding the hassles associated with the daily or weekly administration of oral and injectable products. Medication non-adherence occurs when patients do not take their medication as prescribed. This non-adherence affects approximately 50% of patients, including those taking daily pills. Medication non-adherence is a primary reason why Type 2 diabetes treatments face significant challenges in achieving positive real-world effectiveness.
Vivani represents the August 2022 merger of Second Sight and Nano Precision Medical, Inc. NPM-119 is being developed within Vivani's Biopharm Division (formerly Nano Precision Medical, Inc.). An IND for NPM-119 remains on track for filing in mid-2023 to support initiation of a Phase 2 clinical study called LIBERATE-1. Vivani is also developing a portfolio of innovative, highly differentiated, new drug product candidates leveraging its proprietary NanoPortal implant technology, which has potential application across a broad range of therapeutic compounds. For more information, please visit www.vivani.com.
Forward-Looking Statements
This press release contains certain "forward-looking statements" of Vivani within the meaning of the "safe harbor" provisions of the US Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: "target," "believe," "expect," "will," "may," "anticipate," "estimate," "would," "positioned," "future," and other similar expressions that in this press release, including statements regarding our business, product candidates, including the therapeutic potential thereof and the planned development therefor, technology, strategy and the proposed initial public offering of Cortigent. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations, and assumptions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Actual results and outcomes may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause actual results and outcomes to differ materially from those indicated in the forward-looking statements include, among others, risks related to the development and commercialization of our product candidates, including NPM-119; delays and changes in applicable laws, regulations and guidelines including potential delays in submitting required regulatory applications to the U.S. Food and Drug Administration ("FDA"); risks related to the initiation, enrollment and conduct of our planned clinical trials and the results therefrom; our history of losses and our ability to achieve or sustain profitability in the future; the impact of COVID-19 on our business; and the proposed initial public offering of Cortigent, including whether such an offering can be completed and the terms and timing thereof. There may be additional risks that the Company considers immaterial, or which are unknown. A further list and description of risks and uncertainties can be found in the Company's final proxy statement/prospectus on Form 424B3 filed with the Securities and Exchange Commission (the "Commission") on June 24, 2022, and any subsequent annual and quarterly filings on Form 10-K and Form 10-Q filed with the Commission. Any forward-looking statement made by us in this press release is based only on information currently available to the Company and speaks only as of the date on which it is made. The Company undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of added information, future developments or otherwise, except as required by law.
More on The Californer
Contacts
Investor Contact:
Vivani Investor Relations
investors@vivani.com
T: 818-833-5000
Media Contact:
Sean Leous
Sean.Leous@westwicke.com
T: 646-866-4012
ThinkEquity is acting as sole book-running manager for the proposed initial public offering.
A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
About Cortigent, Inc.
Cortigent was formed to continue the business of Second Sight Medical Products, Inc. ("Second Sight"), a pioneer in developing targeted neurostimulation systems to help patients recover critical body functions. The company's technology combines neuroscience understanding with proprietary microelectronics, software, and data processing capabilities to provide artificial vision and potentially restore muscle movement in victims of stroke. An early feasibility clinical trial has been substantially completed to evaluate an advanced system for artificial vision called "Orion." This device has received FDA Breakthrough Device designation. Cortigent is also exploring the application of its core technology to accelerating the recovery of arm and hand function in patients who are partially paralyzed due to stroke and plans to explore additional applications of its platform in the future. For more information, please visit www.cortigent.com.
More on The Californer
- Bennett Awards Designs Two Cohesive Custom Awards for 2025 Sci-Tech Academy Awards
- Poll Finds Overwhelming Opposition to Keeping Big Cats as Pets
- SM Telecom Expands AT&T Partnership to Deliver Cutting-Edge 5G+ Wireless Solutions New Collab Brings AT&T's Advanced 5G+ Technology to Cellphone
- Governor Newsom proclaims Older Californians Month
- Groundbreaking Launches 154-Acre Los Cerritos Wetlands Restoration in Long Beach – Single Largest Increase in Open Space in Long Beach in Decades
About Vivani Medical, Inc.
Leveraging its proprietary NanoPortal™ platform, Vivani Medical develops biopharmaceutical implants designed to deliver drug molecules steadily over extended periods of time, with the goal of guaranteeing patients adherence to their medication. Vivani's lead program, NPM-119, is a miniature, 6-month GLP-1 implant under investigation for the treatment of patients with Type 2 diabetes. NPM-119 can provide patients the opportunity to realize the full potential benefit of their medication while avoiding the hassles associated with the daily or weekly administration of oral and injectable products. Medication non-adherence occurs when patients do not take their medication as prescribed. This non-adherence affects approximately 50% of patients, including those taking daily pills. Medication non-adherence is a primary reason why Type 2 diabetes treatments face significant challenges in achieving positive real-world effectiveness.
Vivani represents the August 2022 merger of Second Sight and Nano Precision Medical, Inc. NPM-119 is being developed within Vivani's Biopharm Division (formerly Nano Precision Medical, Inc.). An IND for NPM-119 remains on track for filing in mid-2023 to support initiation of a Phase 2 clinical study called LIBERATE-1. Vivani is also developing a portfolio of innovative, highly differentiated, new drug product candidates leveraging its proprietary NanoPortal implant technology, which has potential application across a broad range of therapeutic compounds. For more information, please visit www.vivani.com.
Forward-Looking Statements
This press release contains certain "forward-looking statements" of Vivani within the meaning of the "safe harbor" provisions of the US Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: "target," "believe," "expect," "will," "may," "anticipate," "estimate," "would," "positioned," "future," and other similar expressions that in this press release, including statements regarding our business, product candidates, including the therapeutic potential thereof and the planned development therefor, technology, strategy and the proposed initial public offering of Cortigent. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations, and assumptions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Actual results and outcomes may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause actual results and outcomes to differ materially from those indicated in the forward-looking statements include, among others, risks related to the development and commercialization of our product candidates, including NPM-119; delays and changes in applicable laws, regulations and guidelines including potential delays in submitting required regulatory applications to the U.S. Food and Drug Administration ("FDA"); risks related to the initiation, enrollment and conduct of our planned clinical trials and the results therefrom; our history of losses and our ability to achieve or sustain profitability in the future; the impact of COVID-19 on our business; and the proposed initial public offering of Cortigent, including whether such an offering can be completed and the terms and timing thereof. There may be additional risks that the Company considers immaterial, or which are unknown. A further list and description of risks and uncertainties can be found in the Company's final proxy statement/prospectus on Form 424B3 filed with the Securities and Exchange Commission (the "Commission") on June 24, 2022, and any subsequent annual and quarterly filings on Form 10-K and Form 10-Q filed with the Commission. Any forward-looking statement made by us in this press release is based only on information currently available to the Company and speaks only as of the date on which it is made. The Company undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of added information, future developments or otherwise, except as required by law.
More on The Californer
- Don Barnhart Drops Unapologetically Hilarious Comedy Special "You Do You," On Open Bar Network
- Cygnet Theatre Announces The Cast and Creative Team of Rodgers and Hammerstein's Oklahoma!
- Shon Garage Door Repair Expands Trusted Services to San Diego, CA
- Nicky Dare Honors Indonesian Heritage at VAPI–Valley Asian and Pacific Islanders Cultural Festival
- California launches new AI-powered chatbot that provides wildfire resources in 70 languages
Contacts
Investor Contact:
Vivani Investor Relations
investors@vivani.com
T: 818-833-5000
Media Contact:
Sean Leous
Sean.Leous@westwicke.com
T: 646-866-4012
Filed Under: Business
0 Comments
Latest on The Californer
- Gravity to Bring 5-Minute EV Charging to 8 Sites Across Greater LA
- California: Governor Newsom issues statement on Pope Leo XIV, the first American Pope
- New poll shows high rates of employee burnout amid concerns over politics and personal finances
- Tessellations Appoints Luthern Williams as Head of School
- Aureli Construction Sets the Standard for Seamless Home Additions in Greater Boston
- Psychological Thriller "Killing Off Connor" To Open 34th IFS Film Fest After 12-years In Post
- Harvest Properties Acquires Two San Francisco Bay Area Self Storage Facilities for $44.2 Million
- California businesses in near-universal compliance with prohibition of intoxicating hemp products harmful to youth
- California: Governor Newsom announces upgrades to 21 state fish hatcheries to boost salmon populations
- Solaris Energy Infrastructure, Inc. (SEI) Investors Who Lost Money Have Opportunity to Lead Securities Fraud Lawsuit
- Risk Rater, Threat Assessment App, gives Users the Same Threat Evaluation as the Rich and Powerful
- Is it Really True That Tariffs Will Raise Car Insurance Rates?
- ScreenPoints Puts Film Investors in the Credits—and in the Money With New FinTech Platform
- Coastal Business Systems Wraps Up Successful 2025 Tech Show in Redding
- AdOcto Turns AirBnBs Into High-Impact Advertising Channels
- Zefr Announces Launch of Pre-Screen Brand Safety Solution for Google's Search Partner Network (SPN)
- Pathways to Adulthood Conference May 17 at Melville Marriott Honoring NYS Assembly Member Jodi Giglio, Suffolk County Legislator Nick Caracappa
- Adster Techologies awarded US Patent for breakthrough innovation in reducing latency in Ad Serving
- Flexi-View Lending Closes $5.05 Million Residential Acquisition Loan in Billings, Montana
- Robert Fabbio Inducted into the Austin Technology Council Hall of Fame